Exxon Mobil plans to start producing lithium from subsurface wells by 2027

  • 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.