ExxonMobil Signs MOU with SK On for up to 100,000 Tons of Lithium Supply for EV Battery Production in the US

Published: Jul 3, 2024 20:33

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[ExxonMobil Signs Agreement with Battery Cell Factory] On June 25, SK On announced that it had signed a non-binding memorandum of understanding with ExxonMobil, seeking up to 100,000 tons of lithium supply from the latter for electric vehicle battery production in the United States. ExxonMobil introduced that the agreement paved the way for a multi-year procurement agreement of up to 100,000 tons of Mobil lithium for its first project in Arkansas. SK On plans to use it in its electric vehicle battery manufacturing business in the United States. According to the introduction, the project plans to extract lithium from underground brine deposits in Arkansas and convert it into battery-grade lithium materials on-site. This method can produce lithium more efficiently than traditional hard rock lithium mining while reducing environmental impact.

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