General Motors has formed a joint venture with Lithium Americas Corp. to develop and operate the Thacker Pass lithium mine in Nevada. GM is investing $625 million into the venture, including $330 million in cash and a $195 million letter of credit facility. The mine will produce lithium carbonate, a crucial component for electric vehicle batteries, helping GM secure U.S. raw materials for its EV expansion. Lithium Americas shares surged over 20% following the news. GM will hold a 38% stake in the project, with the venture expected to strengthen GM’s EV supply chain.
