ExxonMobil (XOM) has signed a memorandum of understanding with SK On, a leader in electric vehicle battery production. This agreement aims to establish a multiyear supply of up to 100,000 metric tons of Mobil Lithium for SK On’s U.S.-based EV battery manufacturing. This milestone reflects growing demand for U.S. sourced lithium, supporting energy security and reducing carbon emissions.

Mobil Lithium: Enhancing the U.S. EV Supply Chain

The partnership between ExxonMobil and SK On marks a significant step in building a robust U.S. EV supply chain. By planning lithium extraction from Arkansas saltwater deposits, the process promises efficiency and lower environmental impact compared to traditional mining techniques.

ExxonMobil’s Role in Lower-Carbon Solutions

ExxonMobil will leverage its expertise in subsurface exploration, drilling, and chemical processing for Mobil Lithium production. This collaboration offers U.S. battery manufacturers a reliable and sustainable lithium supply option.

Accelerating U.S. Manufacturing with SK On

SK On is ramping up its U.S. presence with existing plants in Georgia and new projects in partnership with major automakers. The expanded production capacity aims to lead EV electrification efforts in the country, supported by this pivotal agreement with ExxonMobil.

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