Exxon's Lithium Investment for Future EV Demand
【Summary】Exxon Mobil is drilling for lithium in Arkansas to become a major U.S. supplier for electric-vehicle batteries by 2030. This move is aimed at repositioning the company for the growing demand for EVs, as lithium is a crucial component in battery production. The U.S. is trying to reduce its reliance on China, the global leader in lithium processing.
China, known for its leadership in processing lithium, is taking significant and risky steps to secure raw lithium from Latin America and Africa. In response to this, the United States is now working on developing its own lithium supply to reduce its dependence on China. A photo illustration by Jamie Leventhal accompanies this news article.
Exxon Mobil, a Texas-based oil company, announced on Monday that it has begun drilling for lithium in Arkansas. The company aims to become a major supplier of lithium for electric-vehicle battery manufacturers by the year 2030. This move by Exxon Mobil is a strategic decision to position itself for the long-term future of electric vehicles and the electrification of the transportation sector. For decades, Exxon Mobil has been a dominant player in the fuel industry. Lithium is a crucial component in the production of batteries for electric vehicles, cellphones, and laptops.
-
Subaru's Neglected Sumo Microvan Rediscovered
-
Tesla Cybertruck reservations release date delay
-
Fusion of Camaro Body on BMW 540i V8 Touring
-
QX60 Speed Causes Significant Dip at 81 MPH
-
Ford Mondeo ST200 Spotted
-
2024 Hyundai Tucson facelift in N Line trim - images
-
Chevrolet Bolt EV 2025: Upgraded with LFP Battery
-
Ducati Bentley Diavel Limited-Edition Bike
- Suttie's Week with a Honda ZR-V Hybrid SUV
- Used Jaguar Land Rover models experience price drop due to insurance concerns
- Toyota Unveils Impressive Supra Concept
- BMW iX Achieves Impressive 978 Km Range on Single Charge
- MG's 2024 Plans: Flagship SUV and ICE Line-Up Refresh
- Nissan Qashqai to receive bold redesign and electric power
- Sixt Ends Partnership with Tesla Over High Repair Expenses
- Toyota unveils compact electric SUV for European market; could it be headed to the US?
- BMW iX Achieves 978 Km Range on Single Charge
- Toyota's electric SUV for Europe may head to the US.