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Exxon Mobil in talks with Tesla, Ford to supply lithium – Bloomberg Law
Exxon Mobil in talks with Tesla, Ford to supply lithium – Bloomberg Law By Reuters
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Published Jul 31, 2023 02:17PM ET
(C) Reuters. FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes/File Photo
(Reuters) – Oil major Exxon Mobil (NYSE:XOM) is in talks with Tesla (NASDAQ:TSLA), Ford Motor (NYSE:F), Volkswagen (ETR:VOWG_p) and other automakers to supply lithium, Bloomberg Law reported on Monday citing people familiar with the matter.
The talks are in early stages and also include the likes of Samsung (KS:005930) and SK On Co, the report added.
Tesla, Ford, Volkswagen and Exxon did not immediately respond to Reuters’ requests for comment.
Exxon Mobil had agreed last month to develop more than 6,100 lithium-rich acres in Arkansas with Tetra Technologies (NYSE:TTI) Inc, the second move this year by the oil giant for control of assets needed to produce the electric-vehicle battery metal.
Its rapid expansion into the lithium sector comes amid growing interest from traditional energy companies and others into emerging technologies that aim to boost global supply of the ultralight metal.
Exxon Mobil in talks with Tesla, Ford to supply lithium – Bloomberg Law
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