Mazdak
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- The company aims to provide supplies of lithium for electric-car batteries and advanced electronics
- Exxon will extract lithium from briny waters in Arkansas using conventional oil and gas drilling methods
- The company’s Canadian affiliate, Imperial Oil, has also invested in a lithium-extraction pilot project
- Exxon will partner with Tetra Technologies for production and sell the metal under the brand name Mobil Lithium
- The company aims to meet the growing demand for lithium in EVs, consumer electronics, and energy storage systems
- Exxon does not plan to invest in charging stations, instead focusing on lithium production
- The US oil firm sees the global market for lithium as a significant opportunity for growth
- There is still a large potential for EV adoption in the United States, with less than 1% of vehicles currently being EVs.