Exxon Mobil to buy Superior Graphite assets for EV battery push, NYT reports

Exxon Mobil (XOM) is purchasing a production facility, research center and other assets from privately-held Superior Graphite to expand further into the electric vehicle business, the New York Times’ Rebecca Elliott reports, citing Dave Andrew, VP of new market development. The company expects the assets to help it produce graphite by the end of the decade and terms of the deal were not disclosed. “Like in any market, there are fluctuations in the near term,” Andrew said. “But we fundamentally see the demand for batteries and electric vehicles and, increasingly, in large-scale energy storage solutions, increasing over the longer term.”