Matt chats with The Korelin Economics Report about ExxonMobil and the move into the lithium sector. This major oil producer has now stated its intention to develop a Direct Lithium Extraction (DLE) process and technology. This is a potential major stepping stone for the lithium sector and will have impacts across the sector.
The significance of ExxonMobil entering the lithium space especially on all the junior stocks that are developing their own DLE technology. Assuming any DLE process is developed there will be impacts on the lithium price, carried over to the cost of batteries and electric vehicles. While it’s still fairly early for the development of DLE the sector is moving fast and having major oil companies starting up dedicated divisions will surly speed everything up
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