GM to Invest in Lithium Americas; to Jointly Develop Lithium Mine in Nevada

GM is to make a $650 million equity investment in Lithium Americas, which represents the largest-ever investment by an automaker to produce battery raw materials. As part of ther agreement, the two companies will jointly invest to develop the Thacker Pass mine in Nevada, which is the largest known source of lithium in the US, and the third largest in the world.

The lithium carbonate from Thacker Pass will be used in GM’s proprietary Ultium battery cells. 

Production at Thacker Pass is projected to begin in the second half of 2026, and is expected to create 1,000 jobs in construction and 500 in operations.

Lithium Americas estimates the lithium extracted and processed from the project can support production of up to 1 million EVs per year.

The company is focused on advancing lithium projects in Argentina and the US to production.

GM Chair and CEO, Mary Barra, says: “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. 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.”

“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,” adds 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.”

GM is launching a broad portfolio of trucks, SUVs, luxury vehicles and light commercial vehicles using the Ultium Platform, including the GMC HUMMER EV Pickup and SUV, GMC Sierra EV, Cadillac LYRIQ, Cadillac CELESTIQ, Chevrolet Silverado EV, Chevrolet Blazer EV, Chevrolet Equinox EV, BrightDrop Zevo 400 and BrightDrop Zevo 600.