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Now we’re adding a new one Exxon in early 2023 acquired the rights to 120,000 gross acres of the smackover formation in arkansas, considered one of the most prolific lithium resources of its type in north america. Exxon mobil is drilling for lithium in arkansas and expects to begin production of the critical material for electric vehicles by 2027.

Exxon Mobil’s innovative approach to becoming a leading lithium player

Exxonmobil defeats occidental to secure arkansas lithium rights, poised to dominate us battery mineral production using direct extraction technology. The product offer will be branded as mobil™ lithium, building on. This venture into the lithium space by the country’s biggest oil major shows just how essential companies like exxonmobil, with all the technical, scientific, engineering, and project execution.

The arkansas oil and gas commission's approval grants exxon's (nyse

Xom) today announced plans to become a leading producer of lithium, a key component of electric vehicle (ev) batteries Work has begun for the company’s first phase of north america lithium production in southwest arkansas, an area known to hold significant lithium deposits