Exxon Plows Ahead With Foray Into Lithium Despite Price Slump
- Customers still need more lithium than they have today: exec
- Oil driller has the ‘balance sheet to weather price cycles’
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Exxon Mobil Corp. is pushing ahead with its expansion into lithium, undeterred by a collapse in prices and a growing backlash against electric vehicles in some markets.
The oil giant plans to bring its first project online in 2027 and says potential customers still see a surge in demand for the metal key to powering EVs toward the end of the decade.