In 2023, oil majors saw the writing on the wall & began...

In 2023, oil majors saw the writing on the wall & began investing in to the lithium and the #EV supply chain, with supply expected by 2026-27. ExxonMobil, BP, Shell, Equinor, & TotalEnergies are diversifying into renewable energy to secure their future.$PFE.ax #EnergyTransition
1- ExxonMobil:
Investment: ExxonMobil has entered into a memorandum of understanding (MOU) with SK On to secure up to 100,000 metric tons of lithium annually from SK On's Arkansas project. This lithium will be used in SK On's EV battery manufacturing operations in the U.S., aiming to supply lithium for 1 million EV batteries annually by 2030 (Offshore Technology).
2- BP:Investment:
BP has invested in StoreDot, an Israeli company known for its ultra-fast charging (UFC) battery technology. This investment is part of BP’s strategy to enhance its presence in the EV market and improve battery technology, which is crucial for the EV supply chain.
3 - Shell:
Investment: Shell has invested in various EV infrastructure projects and battery technology companies, including a stake in Ample, a company specializing in battery swapping technology. Shell aims to build an extensive EV charging network and support advancements in battery technology.
4 - Equinor:
Investment: Equinor has formed a partnership with Standard Lithium, investing up to $160 million to secure a 45% stake in lithium projects in Southwest Arkansas and East Texas. The collaboration leverages Standard Lithium’s DLE expertise and Equinor’s subsurface and project execution capabilities to advance sustainable lithium extraction.
5 - TotalEnergies:Investment:
TotalEnergies has been active in the EV sector, including investments in Saft, a battery manufacturing subsidiary. TotalEnergies is working on expanding its battery production capabilities and integrating into the EV supply chain. The company has also invested in NewMotion, one of Europe's largest EV charging networks.
These investments underscore the oil majors' strategic shift towards renewable energy sources and the growing importance of lithium in the global energy transition.