GM to invest $650 million in a lithium company to support its electric vehicle business
Summary
US President Joe Biden, with General Motors CEO Mary Barra, looks at a Chevrolet Silverado EV as he tours the 2022 North American International Auto Show at Huntington Place Convention Center in Detroit, Michigan on September 14, 2022. Lithium production at Thacker Pass, which is located in Northern Nevada, is due to begin in the second half of 2026, the companies said, and will create 1,000 jobs as the mine is being constructed and 500 during operations. "Its an exciting milestone, and we couldnt ask for a better organization than General Motors to become our largest investor," Lithium Americas President and CEO Jonathan Evans told CNBC. "GM shares our commitment to meaningfully advancing the energy transition, and Im confident that together we can make Thacker Pass a major player in a secure, integrated North American supply chain from critical battery materials to EVs." On January 6, Lithium America said the court had confirmed there were no additional hearings or briefings required and that a final decision would be handed down "in the next couple months."