ExxonMobil to supply U.S. produced Lithium to SK On

ExxonMobil, an international energy and petrochemical company, has signed a non-binding MoU with SK On, an EV battery developer, to potentially supply up to 100,000 metric tons of Mobil™ Lithium from its upcoming Arkansas project. This collaboration aims to support U.S.-based EV battery manufacturing, aligning with ExxonMobil’s goal to provide lithium for approximately 1 million EV batteries annually by 2030 and bolster the American EV supply chain.

Lithium demand is increasing due to its importance in EVs, electronics, and energy storage systems. ExxonMobil plans to extract lithium from underground saltwater deposits in Arkansas using Direct Lithium Extraction (DLE) technology, aiming for more efficient and environmentally sensitive production methods compared to traditional hard rock mining. ExxonMobil intends to utilize subsurface exploration, drilling, and chemical processing capabilities for MobilTM Lithium production, offering U.S. EV battery manufacturers a secure, lower-carbon lithium supply option. They have successfully produced lithium carbonate from the Smackover formation in southern Arkansas through an appraisal drilling program and technology pilot with DLE.

“The world needs more lithium to support its emissions goals, and we’re doing our part to drive solutions forward in the United States,” said Dan Ammann, President of ExxonMobil Low Carbon Solutions. “This collaboration with SK On demonstrates the leading role we play in the growing market for domestically sourced lithium, a market that’s advancing energy security and climate objectives, as well as supporting American manufacturing.”

In the U.S., SK On operates two battery plants in Commerce, Georgia, and plans to build four additional plants through joint ventures with Ford Motor Co. and Hyundai Motor Group. By 2025, SK On’s annual production capacity in the U.S. is projected to exceed 180 GWh, capable of powering approximately 1.7 million EVs annually, as claimed by the official statement.

“SK On has been working with global partners to secure key battery raw materials in a move to support our growing U.S. manufacturing base and lead electrification in the region,” said Park Jong-jin, Executive Vice President of Strategic Procurement at SK On. “Through this partnership with ExxonMobil, we will continue strengthening battery supply chains in the U.S.” 

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