Exxon Mobil Unveils Synthetic Graphite To Boost EV Battery Life By 30%

Exxon Mobil (NYSE:XOM) announced it has developed a new synthetic graphite that could extend the life of electric-vehicle batteries by up to 30%.

CEO Darren Woods said several EV makers are already testing the material, which, when used on the anode side of batteries, enables faster charging, longer driving ranges, and extended lifespans, Bloomberg reported on Friday from the University of Texas at Austin’s Energy Symposium.

Exxon recently acquired production assets from Chicago’s Superior Graphite to support large-scale manufacturing and aims to begin commercial output by 2029.

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Exxon intends to leverage its refineries, chemical plants, and labs to supply materials critical to the energy transition. The Texas oil major is also pursuing lithium extraction while continuing to explore opportunities in hydrogen and carbon-based technologies.

Exxon has a long history of battery innovation. In the 1970s, it helped invent the lithium-ion battery and later developed materials for rechargeable versions.

However, Woods flagged uncertainty around the company’s low-carbon hydrogen projects. Exxon may delay a planned Baytown, Texas, facility due to weak customer demand and tighter timelines to claim U.S. hydrogen tax credits under President Trump’s recently passed energy bill.

In June 2024, Exxon signed a memorandum of understanding (MOU) with SK On to supply up to 100,000 metric tons of Mobil Lithium from its Arkansas project. The deal supports Exxon’s goal of producing enough lithium for one million EV batteries annually by 2030, using lower-carbon extraction methods to boost U.S. energy security and EV supply chains.

Contemporary Amperex Technologies (CATL) led the global EV battery market from January to July 2025 with a 37.5% share, supplying 221.4 GWh of capacity and outpacing BYD’s 17.8% share. Together, the Chinese giants controlled more than half the market. LG Energy Solutions followed with 9.5%, while SK On held 4.2%, reflecting South Korea’s steady growth in the sector.

Price Action: XOM shares are up 0.11% at $112.27 at the last check on Friday.

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