Exxon Mobil in discussions with Tesla, Ford to supply lithium: Report

Oil conglomerate Exxon Mobil is in discussions with Tesla, Volkswagen and Ford Motor Company among others to supply lithium for electric vehicle batteries, Bloomberg Law reported, citing sources.

The report said that the dialogues also include companies such as Samsung and SK ON Co.

The mentioned auto companies did not respond to the newswire’s requests for a comment, whereas Exxon refused to offer a statement on the issue.

The newswire further reported that any dialogue would be at the nascent stages, since Exxon has no means of producing the metal at the moment.

Reuters had noted the previous month, that Exxon had agreed to study an area in Arkansas that had brine (rich in lithium), alongside Tetra Technologies. Earlier this year, the company had also purchased over 100,000 acres in Arkansas from Galvanic Energy.

Exxon's 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, Reuters noted.