ExxonMobil, the US mineral oil company, has unveiled its ambition to play a significant role in the electric vehicle (EV) market by producing enough lithium for over one million electric cars per year by 2030. The announcement follows earlier reports of ExxonMobil acquiring drilling rights in southern Arkansas and engaging in discussions with major automakers and battery manufacturers.
The company has initiated preparations for the first phase of lithium production in southwest Arkansas, with production slated to commence in 2027. ExxonMobil emphasizes that this move builds on its longstanding technical partnership with the automotive industry and positions it to become a leading lithium producer.
ExxonMobil’s strategic location choice in southwest Arkansas, known for its historical ties to the oil and gas industry, provides the company with insights into the geological landscape. The 48.5-hectare land acquisition for lithium extraction further underscores ExxonMobil’s commitment to the emerging lithium industry in Arkansas. The company is collaborating with local and state authorities to facilitate the successful development of lithium extraction.
The extraction process involves conventional oil and gas drilling methods to access lithium-rich saltwater deposits at a depth of approximately 3,000 meters. Subsequently, direct lithium extraction (DLE) techniques will be employed to filter lithium from the saltwater. ExxonMobil plans to process the raw material on-site, converting it into a suitable state for battery production.
Dan Ammann, President of ExxonMobil Low Carbon Solutions, underscores the importance of lithium in the energy transition and asserts ExxonMobil’s role in enabling electrification. The project aims to unlock vast North American lithium supplies with reduced environmental impacts compared to traditional mining operations.
ExxonMobil’s foray into lithium production signals its commitment to supporting the global shift towards electric mobility and underscores the company’s strategic positioning in the evolving landscape of energy and raw material supply for electric vehicles.
