Lithium carbonate from Thacker Pass, the largest known lithium source in the US, will be used in GM’s proprietary Ultium battery cell.
“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 Chief Executive Mary Barra in a separate statement.
“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,” Lithium Americas President and CEO Jonathan Evans noted.
The investment will be split into two tranches. Funds for the first tranche will be held in escrow until certain conditions are met, including the outcome of the Record of Decision ruling currently pending in the US District Court.
The announcement comes on the heels of a US judge comments…
