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XOM-EXXON MOBIL CORP

Exxon Mobil Partners with LG Chem to Supply Lithium Carbonate for U.S. Electric Vehicle Batteries Amid Push for Domestic Mineral Production

Friday

22 November, 2024

Exxon Mobil is taking a bold step into the lithium market with a partnership with LG Chem, aiming to secure a sustainable supply of lithium carbonate for electric vehicle batteries. As the demand for EVs skyrockets, can this innovative approach reshape the future of domestic mineral production?

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Key Takeaways
  • Exxon is entering the critical minerals sector by partnering with LG Chem for lithium carbonate supply.
  • The company is adopting Direct Lithium Extraction technology to improve environmental sustainability.
  • This initiative supports U.S. efforts to decrease dependence on foreign lithium, especially from China.
  • Exxon has invested over $100 million in its Arkansas lithium project, promising job creation.
  • The collaboration with LG Chem positions Exxon as a strong investment as renewable energy demand increases.
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