Exxon Mobil announced plans to establish a lithium production facility in Arkansas, marking the company’s entry into the production of a crucial component for electric vehicle (EV) batteries. This move is part of Exxon’s strategy to diversify its energy portfolio, reflecting an acknowledgment of the growing competition between battery-powered vehicles and traditional fossil fuel-based transportation. The project aims to start lithium production by 2027, targeting enough output to supply over a million EVs annually by 2030. Despite the focus on conventional fossil fuels, this initiative signals Exxon’s recognition of the importance of cleaner energy forms to combat climate change and the potential for southern Arkansas to become a significant lithium source. This venture into lithium production also indicates a strategic shift towards investing in resources critical for the future of energy and transportation.

https://www.nytimes.com/2023/11/13/business/energy-environment/exxon-mobil-lithium-arkansas.html