Electric Vehicles Exxon Mobil Aims to Become Leading Lithium Producer

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Exxon Mobil is currently drilling its first lithium well in Arkansas, USA. The company aims to become one of the leading producers of lithium and this project will play a crucial role in helping the firm to achieve this goal.

Texas/USA – Exxon Mobil Corporation has 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. The product offer will be branded as Mobil Lithium, building on the rich history of deep technical partnership between Mobil and the automotive industry.

“Lithium is essential to the energy transition, and Exxon Mobil has a leading role to play in paving the way for electrification,” said Dan Ammann, president of Exxon Mobil Low Carbon Solutions. “This landmark project applies decades of Exxon Mobil expertise to unlock vast supplies of North American lithium with far fewer environmental impacts than traditional mining operations.”

In early 2023, Exxon Mobil acquired the rights to 120,000 gross acres of the Smackover formation in southern Arkansas – considered one of the most prolific lithium resources of its type in North America.

Southwest Arkansas has a history as an oil and natural gas producer, and the region’s geology is well understood. Exxon Mobil is working with local and state officials to enable the successful scale-up of Arkansas’ emerging lithium industry.

After using conventional oil and gas drilling methods to access lithium-rich saltwater from reservoirs about 10,000 feet underground, Exxon Mobil will utilize direct lithium extraction (DLE) technology to separate lithium from the saltwater. The lithium will then be converted onsite to battery-grade material. The remaining saltwater will be re-injected into the underground reservoirs. The DLE process produces fewer carbon emissions than hard rock mining and requires significantly less land.

“This project is a win-win-win,” Ammann added. “It’s a perfect example of how Exxon Mobil can enhance North American energy security, expand supplies of a critical industrial material, and enable the continued reduction of emissions associated with transportation, which is essential to meeting society’s net-zero goals.”

Lithium is essential to the production of lithium-ion batteries, which are used in electric vehicles, consumer electronics, energy storage systems and other clean energy technologies. Demand for lithium is expected to quadruple by 2030, and virtually all lithium today is produced outside of North America.

The company is targeting its first lithium production for 2027 and is evaluating growth opportunities globally. By 2030, Exxon Mobil aims to be producing enough lithium to supply the manufacturing needs of well over a million EVs per year. Discussions with potential customers, including EV and battery manufacturers, are ongoing.

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