ExxonMobil has signed an MOU with LG Chem to supply up to 100,000 metric tons of lithium carbonate, strengthening the domestic lithium supply chain. LG Chem’s Tennessee cathode plant, under construction since December 2023, will have an annual production capacity of 60,000 tons, making it the largest in the U.S. Its strategic location ensures efficient customer deliveries and raw material imports.

This partnership addresses the critical shortage of lithium, essential for electric vehicle batteries, while boosting U.S. energy security and economic growth. Dan Ammann, president of ExxonMobil Low Carbon Solutions, highlighted the importance of a secure domestic lithium supply, and Shin Hak-cheol, CEO of LG Chem, emphasized its impact on strengthening the global supply chain for critical minerals. With the final investment decision pending, this collaboration sets the stage for a more sustainable future. ⚡