The venture will involve two tranches, with the first to be held until there is a ruling on the appeal made to the US District Court, due by the end of this year. The second tranche will go towards Lithium Americas' US division. Extraction of lithium is scheduled to begin in 2026.
GM CEO Mary Barra commented that "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." GM’s current factories for producing electric vehicles are located across four locations: Michigan, Tennessee, Ontario and Quebec.
The Thacker Pass Mine is estimated to be the largest known source of lithium in the United States and third largest in the world. It is hoped that production from it will support GM's EVs such as the Chevrolet Silverado EV and Cadillac Celestiq models due out later this year.
Source: GM