Exxon Enters Battery Market With Kentucky Factory Deal (Correct)

Exxon Mobil Corp. is buying a battery materials factory in southern Kentucky as the oil major pushes further into the growing market for energy storage.

The manufacturing facility in Hopkinsville, about an hour north of Nashville, is one of several assets Exxon is acquiring from Chicago-based Superior Graphite, Dave Andrew, Exxon’s vice president for new market development, said in an interview. It plans to begin producing synthetic graphite at commercial levels in 2029.

Exxon did not disclose the price of the acquisition.

The Texas oil giant is making several forays into low-carbon energy even as it expands fossil fuel ...