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Government takes minority state in Nevada’s Thacker Pass lithium project
['Reid Stone', 'Reid Stone Is A Contributing Reporter For The San Joaquin Valley Sun. Email Him At Reid.Stone Sjvsun.Com.', 'The San Joaquin Valley Sun', 'Bruce Clayton']
The San Joaquin Valley Sun
The U.S. government is acquiring a 5% equity stake in Lithium Americas, the company developing the large-scale Thacker Pass lithium mine in northern Nevada.
This investment also includes a 5% stake specifically in the Thacker Pass lithium mining project, a joint venture between Lithium Americas and General Motors (GM).
Both Republican and Democratic leaders support increasing domestic lithium production to narrow the supply gap with foreign competitors.
Go deeper: The first phase of Thacker Pass is expected to produce 40,000 metric tons of battery-grade lithium carbonate annually, enough to power approximately 800,000 EVs.
GM has pledged more than $900 million toward the development of Thacker Pass, which holds enough lithium reserves to support the production of 1 million EVs each year.