GM And Lithium Americas Announce Joint Investment To Source Lithium In Nevada14
GM and Lithium Americas have just announced a new joint investment to develop the Tracker Pass mine in Nevada for lithium extraction.
Under this new joint venture, General Motors will invest $650 million into Lithium Americas, which represents the largest-ever investment by an automaker to produce raw battery materials. It’s worth noting that the Tracker Pass mine is the largest known source of lithium in the U.S., and the third largest in the world.
“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 Chair and CEO Mary Barra. “Direct sourcing critical EV raw materials and components from suppliers in North America and free-trade-agreement countries helps make our supply chain more secure, helps us manage cell costs, and creates jobs.”
Extraction at the Tracker Pass mine is expected to begin in the second half of 2026. GM is to receive exclusive access to Phase 1 production through a binding agreement, and will be the first to be offered Phase 2 production. Following this investment, Lithium Americas forecasts that this project will create 1,500 jobs in total – 1,000 jobs in constriction and 500 in operations.
“The agreement with GM is a major milestone in moving Thacker Pass toward production, while setting a foundation for the separation of our U.S. and Argentine businesses,” said Lithium Americas President and CEO Jonathan Evans. “This relationship underscores our commitment to develop a sustainable domestic lithium supply chain for electric vehicles. We are pleased to have GM as our largest investor, and we look forward to working together to accelerate the energy transition while spurring job creation and economic growth in America.”
This recent investment is the latest in a long line of ventures General Motors has been making as of late. As a reminder, the Detroit-based automaker has a goal of offering 30 EVs by 2025, and to qualify for Federal tax credits, is establishing production of battery components domestically.
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HUGE SHOCK TO SOME ELECTRIC CAR OWNERS TO FIND IN THE COLD WEATHER, A FULLY CHARGED CARWOULD ONLY DRIVE FOR 30 MINUTES, THEN THEY WOULD HAVE TO RECHARGE FOR 1 1/2 HOURS TO DRIVE FOR JUST ANOTHER 30 MINUTES. GM HAS MADE A HUGE MISTAKE.
Mary, that’s a very untrue and an exaggerated view of propulsive battery capabilities and limitations. Keep things in proper perspective.
Total nonsense. Do you have one? Did you ever drive one? Research before commenting.
That’s weird, Marky Mark. I just drove my electric car to and from work yesterday (2 hours), and I have plenty of charge left “in the tank”. I am in Ontario
This is certainly better news than hearing about deepening relationships with China; however, my understanding is that substantial funding is coming from a US Gov’t loan (so lots of US taxpayer dollars), and Lithium Americas is a Canadian company…again, that’s way better than helping a Chinese company. So US taxpayers are substantially funding an effort that helps create only 1500 jobs, with some of the profitability (if any) ultimately flowing to Canada (which is at least a friendly partner & ally).
GM’s key benefit and motivation is apparently future tax credits…which we can only hope provides an indirect benefit to US ultimately…and this all to facilitate a product (EVs) the majority of people don’t want to buy currently. So overall positive news…I guess…but just not that exciting to me…
Well I’ll be damned!! Queen maryb isn’t going all in on Communist China for raw materials??? Wasn’t she just over in Davos kabitzing with the woke globalists beholden to the CCP?? Did she finally have a massive therapy (detox) session to convince her to ditch the woke globalism & deal in her home country?? WOW.
whatva nonsensical goobledeegook
Actually, it’s the Thacker Pass Lithium Mine. And it’s not yet a mine, just vacant land. The proposed operation is being opposed by several Tribes in the area along with local ranchers so it’s not quite a done deal yet.
As an open pit mine, the envoirnmental impacts could be significant. I found this data in Wiki for what it’s worth: “CO2 emissions from the mine would amount to over 152,000 tons annually, (equal to a small city). The mine would consume 1.7 billion gallons of water annually (500,000 gallons per ton of lithium produced). . .The mine overlaps with 2,866 acres of big sagebrush habitat and known golden eagle breeding sites. The project may be disruptive to the habitat of Endangered Species Act-listed animals. . . .”
Man, that’s a lot of pollution and green house gasses for the sake of being GREEN. The mine may be held up for awhile but I have no doubt that it will come to pass when the appropriate palms are greased. At least no minors will be hurt in the process only miners.
… great post, VV! as a very small owner of penny stock with The Pebble Project,
the EPA again voted down the project yesterday. Gold, Copper, Molindenum in
record amounts. Vetoed. Again and again. But, that’s Alaska. Maybe the EPA
won’t care as much about Nevada? A lot can happen after ’24.
Well, “The DOE began studying Yucca Mountain in 1978 to determine whether it would be suitable for the nation’s first long-term geologic repository”. Since that time, the government has drilled one huge hole in the side of Yucca Mountain and several miles of tunnel (as a demonstration project – wink, wink).
Total amount of spent nuclear fuel deposited so far: 0 pounds, 0 ounces. I’m thinking that GM may want to hedge it’s bet.
Nevada has an ocean of Lithium near Winnemucca in Northern Nevada.