10:23 AM EDT, 06/25/2024 (MT Newswires) -- Exxon Mobil ( XOM ) said Tuesday it signed a nonbinding memorandum of understanding with electric vehicle battery developer SK On, potentially paving the way to securing a multiyear offtake deal of up to 100,000 metric tons of Mobil Lithium from the company's first planned project in Arkansas.

SK On intends to use lithium in its EV battery manufacturing operations in the US, Exxon Mobil ( XOM ) said.

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