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US Lithium and EV Battery Market Charged by Oil Industry Investments

ExxonMobil expects its first lithium production in 2027. By 2030, it aims to produce enough to meet the manufacturing needs of well over a million EVs annually.
US Lithium and EV Battery Market Charged by Oil Industry Investments
The Mobil logo is displayed at a Mobil gas station in Los Angeles, Calif., on Oct. 28, 2022. Mario Tama/Getty Images
Wesley Brown
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As lithium producers deal with setbacks that could delay full-scale production of electric vehicle (EV) batteries in the United States over the next five years, industry experts say key oil industry investments could recharge that emerging sector in 2025.

ExxonMobil and Saudi Aramco, two of the world’s largest oil producers, have recently announced significant long-term investments in the EV supply chain despite President Donald Trump’s rollback of the previous administration’s EV mandate on Jan. 20.
Wesley Brown
Wesley Brown
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Wesley Brown is a long-time business and public policy reporter based in Arkansas. He has written for many print and digital publications across the country.