Major oil extractor and refiner ExxonMobil will start producing lithium from a well in Arkansas. The U.S. company aims to be a leading supplier of the strategic mineral for EVs by 2030.
Lithium is an essential component of lithium-ion batteries and is used in electric vehicles, as well as consumer electronics. Demand for lithium is expected to quadruple by 2030. Virtually all lithium today is produced outside of North America.
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