SKOn, ExxonMobil Ink MOU for Lithium Supply in US

TapTechNews June 25th news, SKOn today announced that it has signed a non-binding Memorandum of Understanding (MOU) with ExxonMobil, with the former seeking up to 100,000 tons of lithium supply from the latter for electric vehicle battery production in the United States.

ExxonMobil said that the agreement paves the way for a multi-year procurement agreement of up to 100,000 tons of Mobil lithium for its first project in Arkansas. SKOn plans to use it in its electric vehicle battery manufacturing business in the United States.

According to the introduction, the project plans to extract lithium from underground brine deposits in Arkansas and convert it on-site to battery-grade lithium materials. This method can produce lithium more efficiently than traditional hard rock lithium mining while reducing the impact on the environment.

The world needs more lithium to support its emission reduction goals, and we are working hard to promote the development of American solutions, said Dan Ammann, president of ExxonMobil Low Carbon Solutions, This cooperation with SKOn demonstrates our leadership role in this growing market of domestic lithium in the United States, which is promoting energy security and climate goals and supporting American manufacturing.

As TapTechNews knows, SKOn currently operates two battery factories in Conyers, Georgia, and jointly operates another four factories with Ford and Hyundai, and it is expected that the annual production capacity in the single US market will exceed 180 GWh by 2025, enough to meet the demand of about 1.7 million electric vehicles for a year.