General Motors (GM) has announced its leadership role in a $50 million Series B financing round for US lithium mining group EnergyX. As part of the agreement, GM will also be collaborating with EnergyX to develop the company’s lithium extraction and refinery technology. This partnership aims to unlock North America’s supply of lithium by using EnergyX’s direct lithium extraction (DLE) technology portfolio to increase efficiency while improving sustainability for GM’s rapidly expanding electric vehicle (EV) production.
EnergyX’s innovative DLE technology allows lithium metal to be made directly from brine, potentially in an anode-ready form for EV batteries. This process enables more cost-effective and sustainable lithium extraction, unlocking a vast lithium supply chain in North America that may have otherwise been unviable.
The financing round, funded by GM and other investors, will allow EnergyX to broaden its research and development efforts for pure lithium metal anodes and its solid-state lithium metal battery program. GM’s investment in every stage of the battery supply chain in North America, from raw materials to cell components and full battery cell production, demonstrates the company’s commitment to securing sustainable and cost-competitive EV critical minerals.
According to Jeff Morrison, GM vice president of Global Purchasing and Supply Chain, “The investment in EnergyX is a further proof point of GM’s leadership position. EnergyX is developing a novel direct lithium extraction process that’s not only cost-competitive but also will reduce energy, land and water usage as compared to the current extraction and processing process for brine-based lithium. We are excited to be partnered with EnergyX on their efforts.”
EnergyX CEO Teague Egan adds, “This single bottleneck (a massive lithium shortage) is the biggest challenge to scaling EV production. We will unlock lithium supply in the U.S., a pivotal move in expanding the EV industry. There are many ways of gauging success, but few are more rewarding than the support of leaders like GM. We’re energized by GM’s investment and will keep a ‘Day 1’ attitude as we pursue our goal of making EnergyX the biggest lithium company in the world.”
GM and its subsidiaries sell vehicles under several brands, including Chevrolet, Buick, GMC, Cadillac Baojun, and Wuling. By investing in the North American battery supply chain, GM is positioning itself to lead the way in sustainable and cost-competitive EV production.
