ExxonMobil's Lithium Drilling in Arkansas Sets Sights on EV Supply Leadership

ExxonMobil has begun drilling for lithium in the US with the goal of becoming a leading supplier of the material crucial for electric vehicle (EV) batteries by 2030. The company aims to use its expertise in oil drilling to extract lithium from brine reservoirs using direct lithium extraction (DLE) technology, which produces fewer carbon emissions and requires less land compared to traditional mining methods. ExxonMobil plans to start lithium production in 2027 and hopes to supply enough lithium for over one million EVs per year by 2030. While the move is seen as a positive step for the EV supply chain, critics argue that ExxonMobil's motivation is purely profit-driven rather than a genuine commitment to sustainability.