Exxon Mobil on Monday announced it’s drilling for lithium in southern Arkansas, with the oil giant expected to begin production of the critical material for electric vehicles by 2027.
Exxon in early 2023 acquired the rights to 120000 gross acres (48562 gross hectares) of the Smackover formation in southern Arkansas, considered one of the most prolific lithium resources of its type in North America. Exxon said that by 2030 it aims to produce enough lithium to supply the manufacturing needs more than 1 million electric vehicles.
