The future of lithium production in the U.S. is gaining momentum in Arkansas, as companies like ExxonMobil, Albemarle, and Standard Lithium make significant investments in the state.
This comes at a time when global demand for lithium, driven by electric vehicles and energy-storage needs, continues to grow. In 2023, global lithium consumption reached 180,000 metric tons, up from 142,000 metric tons in 2022, according to the United States Geological Survey. But the U.S. produces less than 1% of the world’s supply.
While most of the world’s lithium still comes from countries like Australia, Chile and China, Arkansas could change that.
The state is home to the Smackover Formation, a geological formation rich in lithium brine.
“Lithium resource quality is really what makes this a great region,” said Wesley Hamilton, CTO and vice president of research and technology at Albemarle, the world’s top lithium producer. “It comes down to two things: the concentration of lithium and the ability to extract it efficiently from the brine.”
Arkansas has long been a producer of bromine, which is extracted from the same brines now being tapped for lithium. The formation holds over 4 million metric tons of lithium, which is enough to power millions of EVs and devices, according to Galvanic Energy. That has attracted a rush of interest from companies looking to capitalize on the formation’s potential.
Exxon Mobil, for example, acquired 120,000 acres in the Smackover Formation in 2023 and aims to start producing battery-grade lithium by 2027. The company said it will produce enough lithium to supply the manufacturing more than 1 million EVs per year by 2030. Standard Lithium, which has operated in Arkansas since 2020, is also expanding its Direct Lithium Extraction (DLE) facility in El Dorado, thanks to a $100 million investment from Koch Strategic Platforms. DLE is touted as a more eco-friendly extraction method, using advanced filters to reduce energy and water usage.
However, the road ahead isn’t without challenges.
DLE technology, while promising, has yet to be proven on a large scale, and lithium prices have dropped sharply from over $80,000 per metric ton in 2022 to around $10,600 today. That’s due to oversupply, slower-than-expected EV growth and new battery technologies, according to Benchmark.
“Lithium prices are falling precipitously, and many standalone lithium companies are not generating the revenues they need,” said Shon Hiatt, director of the Business of Energy Transition Initiative at the University of Southern California. “That volatility is a big challenge for companies trying to scale up.”
Additionally, China controls 80% of global battery cell production, according to the Atlantic Council, raising concerns about U.S. supply chain risks.
Still, companies like Albemarle and Standard Lithium told CNBC they remain optimistic about Arkansas’ potential to become a key player in the global lithium market.
“The United States has to step up,” said Robert Mintak, CEO of Standard Lithium. “We’ve targeted the Smackover formation in Arkansas because we believe it’s the best resource to develop.”
Watch the video to learn more about how Arkansas is positioning itself at the forefront of U.S. lithium production and what it means for the future of the energy market.
The 2025 Hyundai IONIQ 5 got a major glow up with extra driving range, a sleek interior and exterior facelift, and even Tesla Supercharger access with an added NACS port. With leases starting at just $179 per month, the Hyundai IONIQ 5 might be your best bet to get into an EV right now.
How much does the 2025 Hyundai IONIQ 5 cost to lease?
Hyundai upgraded its best-selling electric SUV in every way possible for the 2025 model year. The 2025 IONIQ 5 can drive up to 318 miles on a single charge, recharge from 10% to 80% in under 20 minutes, and is available starting at just $42,500.
After cutting lease prices last month, the 2025 Hyundai IONIQ 5 was available to lease for as low as $179 per month.
The offer was set to end on July 7, but Hyundai extended it through its new “Hyundai Getaway Sales Event.” The 2025 Hyundai IONIQ 5 SE Standard Range model is still available for lease, starting at just $179 per month.
Advertisement – scroll for more content
That’s for the base version, which has a range of up to 245 miles. The offer is for a 24-month lease with $3,999 due at signing.
2025 Hyundai IONIQ 5 Limited (Source: Hyundai)
The long-range SE RWD variant, with a driving range of up to 318 miles, can be leased for as little as $199 per month. Upgrading to the AWD model will cost $249 per month. You can even snag the off-road XRT variant for $299 a month right now.
Hyundai upgraded the IONIQ 5 with a sleek facelift, adding to its already bold design. Inside, the 2025 IONIQ 5 features a redesigned center console, steering wheel, and HVAC control system based on driver feedback.
It also features a more powerful, next-gen infotainment system. The setup includes dual 12.3″ driver display and infotainment screens with standard wireless Apple CarPlay and Android Auto, voice-recognition, and more.
If you’re looking for something a little bigger, Hyundai’s three-row electric SUV, the IONIQ 9 (Check out our review), is listed for lease starting at just $419 per month.
2025 Hyundai IONIQ 5 Trim
EV Powertrain
Driving Range (miles)
Starting Price*
Monthly lease price July 2025
IONIQ 5 SE RWD Standard Range
168-horsepower rear motor
245
$42,500
$179
IONIQ 5 SE RWD
225-horsepower rear motor
318
$46,550
$199
IONIQ 5 SEL RWD
225-horsepower rear motor
318
$49,500
$209
IONIQ 5 Limited RWD
225-horsepower rear motor
318
$54,200
$309
IONIQ 5 SE Dual Motor AWD
320-horsepower dual motor
290
$50,050
$249
IONIQ 5 SEL Dual Motor AWD
320-horsepower dual motor
290
$53,000
$259
IONIQ 5 XRT Dual Motor AWD
320 horsepower dual motor
259
$55,400
$359
IONIQ 5 Limited Dual Motor AWD
320-horsepower dual motor
269
$58,100
$299
2025 Hyundai IONIQ 5 prices and range by trim (*includes $1,475 destination fee)
Both the 2025 IONIQ 5 and 2026 IONIQ 9 are built at Hyundai’s new EV plant in Georgia. The current lease offers include the $7,500 federal EV tax credit, which is set to expire at the end of September. Hyundai’s new deals are available through September 2, 2025.
Ready to test one out for yourself? We can help you get started. You can use our links below to find deals on the Hyundai IONIQ 5 and IONIQ 9 near you.
FTC: We use income earning auto affiliate links.More.
The Tesla Semi, Tesla’s electric Class 8 semi-truck, saw its efficiency improve in a new real-world trucking test covering 4,494 miles over three weeks.
The Tesla Semi underwent significant changes over the years of delays.
Tesla officially unveiled the “production version” in 2022, but the vehicle never entered volume production. It is expected to finally happen at the end of the year at a new factory in Nevada.
Now, Tesla Semi appears to have improved quite a bit in a new real-world test by logistics company ArcBest.
The company claims to have put Tesla Semi through regular operations, varying from lane dispatch to regional runs over three weeks:
Over a three-week period, ABF operated a Tesla Semi across typical dispatch lanes, including over-the-road routes between service centers in Reno, Nevada and Sacramento, California. The pilot also included regional runs in the Bay Area and rail shuttle operations.
ArcBest claims that Tesla Semi averaged 1.55 kWh per mile during the three weeks:
The electric Semi logged 4,494 miles, averaging 321 miles per day with an overall energy efficiency of 1.55 kWh per mile.
Efficiency in the trucking business varies considerably based on several factors, including the load, but it is nonetheless an impressive performance.
Dennis Anderson, ArcBest chief innovation officer, commented on the test program:
“Freight transportation is a vital part of the global economy, and we know it also plays a significant role in overall greenhouse gas emissions. While the path to decarbonization presents complex challenges — such as infrastructure needs and alternative fuel development — it also opens the door to innovation. Vehicles like the Tesla Semi highlight the progress being made and expand the boundaries of what’s possible as we work toward a more sustainable future for freight.”
Tesla says that the truck should enter volume production toward the end of the year and customer deliveries are expected to start next year.
Range Rover now has its own logo for the first time. The luxury automaker is unveiling a sleek new look as it gears up to launch its first electric SUV later this year.
Range Rover introduces its first logo
Since it launched its first vehicle in 1970, the Range Rover badge has become an iconic status symbol. You can’t miss the classic Range Rover look.
With its first EV due out later this year, the luxury automaker is preparing for a new era. JLR revealed the new Range Rover logo, a first for the luxury automaker, during an investor presentation.
The new logo is a stark contrast to the “Range Rover” badge we are accustomed to seeing, featuring a minimalist design similar to the Rolls-Royce emblem.
Advertisement – scroll for more content
JLR told Autocar that the new logo won’t replace the signature Range Rover badge at the front or rear. Instead, it will be used to complement it.
“The Range Rover Motif has been developed as a smaller symbol for where our familiar Range Rover device mark does not fit, such as on a label or as part of a repeating pattern, and within event spaces where an emblem is more appropriate,” the company said.
With Range Rover’s first electric SUV set to hit showrooms later this year, will we see it featured on the new EV? JLR confirmed in May that the Range Rover Electric now has over 61,000 clients on the waitlist.
The company claims the new EV is undergoing “the most intensive testing any Range Rover vehicle has ever endured” ahead of its big debut later this year.
According to Thomas Müller, Range Rover’s executive director of product engineering, the electric SUV is already outperforming some of its top gas-powered models.
JLR has already begun testing new EV production lines at its Solihull, UK, plant in preparation for the new Range Rover model. Next year, the luxury brand is expected to introduce the smaller Sport and Velar EV models.
FTC: We use income earning auto affiliate links.More.