ExxonMobil and U.S. electric car maker SK On form partnership

SK On announced today that it has signed a non-binding memorandum of understanding with ExxonMobil to purchase up to 100,000 tons of lithium resources from it for use in the production of electric vehicle batteries in the United States. ExxonMobil revealed that this agreement will pave the way for a multi-year purchase agreement of up to 100,000 tons of Mobil lithium for the first project in Arkansas. SK On plans to use these lithium resources in its electric vehicle battery manufacturing business in the United States.