Exxon Mobil is preparing to unveil its long-awaited lithium strategy on Monday, November 13, 2023, by announcing its intention to start producing metal for electric vehicle (EV) batteries in Arkansas by 2026.

Emerging technologies aim to boost global production of this ultralight metal by filtering it from salty brine deposits found around the world and providing battery manufacturers eager with new sources of supply, as Exxon's expansion in the sector takes place. Exxon plans to start producing at least 10,000 metric tons per year of lithium in Arkansas by 2026 with its partner Tetra Technologies. For Exxon and other oil companies, lithium production offers the prospect of selling a new product at a relatively low additional cost