Shulou(Shulou.com)11/24 Report--

CTOnews.com, Nov. 13 (Reuters)-ExxonMobil, the world's largest oil and gas producer, will unveil its lithium strategy and announce plans to start producing electric vehicle battery metal in Arkansas by 2026, producing at least 10,000 tons of lithium a year.

The initial capacity is about the same as the number needed to produce 100000 electric vehicle batteries, and the project is called the Evergreen Program (Project Evergreen). It is understood that ExxonMobil invented lithium-ion batteries in the 1970s, but later abandoned the technology.

CTOnews.com had previously reported that ExxonMobil was in early talks with automakers such as Tesla, Ford and Volkswagen to provide lithium for electric vehicles.

ExxonMobil is looking for buyers to support its push into lithium mining and has set a target of 100000 tons of lithium a year. Arbor is said to be one of the lithium producers ExxonMobil is negotiating.

Meanwhile, ExxonMobil has agreed to work with Tesla to develop more than 6100 acres of lithium-rich land in Arkansas to produce chemicals for water treatment and recycling.

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