General Motors (GM), one of the Big Three automakers, has made a historic move in securing a $650 million investment in lithium development. GM will be working with Lithium Americas to develop the Thacker Pass mine in Nevada, which is the largest source of lithium in the US and the third largest globally. As the automotive industry shifts towards electric vehicles (EVs), the demand for battery materials will continue to rise, and the development of lithium mines will become critical for automakers.
This massive investment by GM makes it the largest investor in Lithium Americas and positions the automaker as a major player in the lithium market. With this investment, GM will have a stable source of lithium for its growing portfolio of EVs, and these vehicles will likely be eligible for the full $7,500 US federal EV tax credit since the materials will be mined domestically.
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In conclusion, GM’s investment in lithium development is a strategic move as the automaker aims to surpass its rivals, including Tesla, in the transition to EVs. The deal with Lithium Americas ensures that GM has access to lithium and will play a critical role in the automaker’s journey towards a greener future.
Lithium Americas and General Motors have teamed up with a common goal in mind – to tap into the growing demand for lithium. They have decided to work on developing the Thacker Pass mine to extract lithium carbonate, a key component in the production of electric vehicle batteries. The Thacker Pass mine is expected to produce enough lithium to supply the needs of one million electric cars annually.
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This partnership is part of General Motors’ plan to power its electric vehicles with its own Ultium battery cells, which will be sourced from the Thacker Pass mine. This venture is a significant step towards a sustainable future and will play a crucial role in meeting the growing demand for electric vehicles.
“GM has secured all the battery material we need to build more than 1 million EVs annually in North America in 2025 and our future production will increasingly draw from domestic resources like the site in Nevada we’re developing with Lithium Americas.” said GM CEO Mary Barra
This move is aimed at ensuring the security of the supply chain and complying with new EV tax credit rules set by the US government. The company’s goal is to become the world’s leading EV maker by 2025 and to achieve this, it plans to offer a range of affordable electric vehicles, including the electric versions of the Equinox and Blazer, catering to the diverse needs of vehicle buyers.
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In addition to the Chevrolet Bolt EV and Bolt EUV, GM has recently launched the high-priced GMC Hummer EV pickup truck and Cadillac Lyriq electric crossover. The production of battery materials is set to begin at the Thacker Pass mine in H2 2026, with GM exclusively accessing all Phase 1 production and having the first opportunity to secure Phase 2 production. The project is expected to create 1,500 job opportunities, including construction and operations positions.
