GM to invest $625 million in joint venture to mine EV battery raw materials in U.S.
The deal is centered on the development, construction and operation of a lithium carbonite mining operation called Thacker Pass in Humboldt County, Nevada.
GM doubles down on EV batteries, invests $625M in lithium project
Previously, GM invested $320 million into Lithium Americas in exchange for 15 million shares back in February of last year. In total, GM has now invested $750 million into Lithium Americas and the joint venture, not including the $195 million line of credit.
GM Invests $625M in EV Battery Material Mining Operation
GM is aiming to source more of its raw materials for electric vehicles from the U.S, to manage battery cell costs and decrease its reliance on imported materials.
GM makes a $625 million lithium-battery move to shore up its EV supply chain
General Motors is investing $625 million in the domestic EV supply chain, partnering with Lithium Americas Corp to develop a lithium mine in Nevada.
GM Backs Biggest US Lithium Project With $625 Million Investment
General Motors Inc will commit $625 million toward what’s likely to be one of the biggest US lithium mines, reinforcing the automaker’s efforts to secure domestic supply of the battery metal critical for electric vehicles.
GM is investing almost $1 billion to ensure its access to a key mineral for EV batteries
General Motors (GM) is increasing its investment in a Nevada lithium mine and its operator to almost $1 billion as it looks to secure a long-term supply of a critical mineral for electric vehicle batteries.
GM agrees to $625 million joint venture to mine EV battery raw materials in U.S.
The deal is centered on the development, construction and operation of a lithium carbonite mining operation called Thacker Pass in Humboldt County, Nevada.
Unlocking Thacker Pass: General Motors to Contribute Combined $625 Million in Cash and Letters of Credit to New Joint Venture with Lithium Americas
Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas" or the "Company") announced the Company and General Motors ...
cbtnews1h
GM Partners with Lithium Americas for $625 million joint venture
GM has entered into a $625 million joint venture with Lithium Americas to develop and operate a lithium carbonate mining ...
electrive2h
General Motors founds joint venture for lithium production
Lithium producer Lithium Americas has entered into a new investment agreement with automotive company General Motors to form ...
Yahoo Finance2h
General Motors to Invest $625M in JV to Source Lithium for EV Battery
GM will hold a 38% stake in Thacker Pass. The investment includes an initial $330 million cash contribution at closing, ...
Mine Deal With GM Sends Lithium Americas Stock Flying
Key Takeaways Lithium Americas and General Motors have formed a joint venture to extract lithium from the Thacker Pass site ...
Mining1d
Lithium Americas revamps Thacker Pass deal with GM in new $625 million JV
For its 62% ownership of Thacker Pass, Lithium Americas will contribute $387 million to the JV and act as manager of the ...
Nevada lithium mine gets $625M boost from auto manufacturer
The Thacker Pass mine, which will provide lithium needed to make electric vehicle batteries, is expected to be operational by ...
Canadian Mining Journal21h
Lithium Americas revamps Thacker Pass deal with GM in new US$625M JV
Shares in Lithium Americas (TSX: LAC; NYSE: LAC) jumped by 20.2% on Wednesday after it announced anew, US$625-million joint ...
Lithium Americas: Aggressive Lithium Call Option
Lithium Americas is a high-risk, high-reward investment, akin to a call option on lithium demand. Read why I remain very ...