12:21 PM EDT, 09/12/2025 (MT Newswires) -- Exxon Mobil ( XOM ) said it has invented a new form of graphite that can potentially increase the life of electric vehicle batteries by 30%, Bloomberg reported Friday, citing the company chief executive.

Used on the anode side of the battery, the synthetic graphite will allow for faster charging, a longer lifespan and a longer range for EVs, according to the report.

The new invention is being tested by several EV manufacturers, Chief Executive Officer Darren Woods said at the Austin Energy Symposium at the University of Texas, Bloomberg reported.

The news follows Exxon Mobil's ( XOM ) recent acquisition of several production assets of Chicago-based Superior Graphite, allowing the oil company to scale-up manufacturing with a goal of commercial production by 2029, the report said.

Exxon Mobil ( XOM ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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