GM will co-develop a Nevada lithium mine as it speeds up EV production

GM will co-develop a Nevada lithium mine as it speeds up EV production

General Motors (GM) is investing heavily in battery raw material production as it prepares to scale up electric vehicle (EV) production in the coming years. The business stated that it would invest $650 million in Lithium Americas Corp. and collaborate with it to develop Nevada’s Thacker Pass lithium mine. This mine has the capacity to generate enough lithium to power up to 1 million electric vehicles each year. The lithium carbonate generated by this mine will be used in GM’s Ultium battery cells.

This investment is part of GM’s long-term plan to secure its requirements and drive investment in the United States and across North America. The manufacturer has inked supply agreements to secure all of the raw battery materials required to construct one million EVs in North America by 2025, and it is now working on supply deals for 2026 and beyond. The Thacker Pass mine is planned to begin production in the second half of 2026.

GM’s investment will be paid in two instalments, the first of which will be kept in escrow until certain requirements are completed, which is anticipated by the end of this year. The rest will come once Lithium Americas separates its activities in the United States from those in Argentina.

The deal with GM represents a major step forward in the development of the Thacker Pass mine and lays the groundwork for the separation of Lithium Americas’ US and Argentine operations. The partnership between GM and Lithium Americas demonstrates the company’s commitment to building a sustainable domestic lithium supply chain for EVs and accelerating the energy transition while producing employment and economic development in the United States.

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