Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
U.S. Condemns China's Dominance in Global Shipbuilding and Maritime Sectors 
UK Markets Face Rising Volatility as Hedge Funds Target Pound and Gilts 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
How the UK’s rollback of banking regulations could risk another financial crisis 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
U.S. Stock Futures Rise as Trump Takes Office, Corporate Earnings Awaited 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Thailand Inflation Remains Negative for 10th Straight Month in January 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Exxon Mobil, an oil industry leader, is reportedly discussing with automakers Tesla, Ford, and Volkswagen to supply lithium for electric vehicle batteries. The talks, still in preliminary stages, reveal Exxon's swift push into the lithium sector amid rising global demand. The discussions also involve Samsung and SK On Co, per the report.
Tesla, Ford, and Volkswagen have not responded to Reuters' requests for comment, while Exxon has declined to comment. However, it should be noted that any conversations between Exxon and the automakers are still very early, as Exxon cannot currently produce the battery metal.
Last month, Reuters reported that Exxon had partnered with Tetra Technologies Inc to explore utilizing over 6,100 acres of lithium-rich brine in Arkansas. Earlier this year, Exxon acquired more than 100,000 acres in Arkansas from Galvanic Energy.
Lithium extraction from these will require Exxon to adopt a direct lithium extraction (DLE) technology, a decision that has not been made yet. It is worth noting that no DLE technology has been successfully implemented commercially, despite multiple companies competing to be the first.
In addition to these efforts, Reuters reported last month that Exxon has engaged in discussions with International Battery Metals regarding the potential licensing of DLE technology. Exxon's rapid expansion into the lithium sector reflects the increasing interest from traditional energy companies and others in emerging technologies that enhance the global supply of this lightweight metal.
Furthermore, Exxon Mobil's discussions extend beyond automakers. The company is reportedly in talks with lithium producers, including Albemarle, a chemical company. Albemarle stated that it frequently engages in conversations with various stakeholders in the market.
With the International Energy Agency projecting a peak in global oil demand before the decade's end, Exxon Mobil is actively shifting focus to produce 100,000 tons of lithium annually. In June, the company partnered with Tetra Technologies to mine 6,100 acres of lithium-rich land in Arkansas.
Whether Exxon Mobil will produce the metal in a partnership or independently has not been determined yet, the company is also exploring the potential for lithium extraction from underground saltwater, which could offer a cost-effective and environmentally friendly process.
Photo: Exxon Mobil Newsroom
