Reported Monday October 28, 2024, Lithium Americas Closes $2.26B U.S. DOE Advanced Technology Vehicles Manufacturing Loan For Financing The Construction Of The Processing Facilities At Thacker Pass, Located In Humboldt County, Nevada
Portfolio Pulse from Benzinga Newsdesk
Lithium Americas Corp. has secured a $2.26 billion loan from the U.S. Department of Energy to finance the construction of processing facilities at Thacker Pass, Nevada. This project aims to produce 40,000 tonnes of lithium carbonate annually and is supported by a joint venture with General Motors.
October 29, 2024 | 3:41 pm
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POSITIVE IMPACT
General Motors has entered into a joint venture with Lithium Americas, acquiring a 38% stake in the Thacker Pass project for $625 million. This move supports GM's strategy to secure a domestic supply of critical minerals.
GM's investment in Thacker Pass aligns with its strategy to secure critical minerals for EV production. This partnership with Lithium Americas is likely to be viewed positively by investors, potentially boosting GM's stock.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 80
POSITIVE IMPACT
Lithium Americas has closed a $2.26 billion loan from the U.S. DOE to finance the Thacker Pass lithium project, with GM acquiring a 38% stake. This positions LAC as a key player in the U.S. lithium supply chain.
The $2.26 billion DOE loan significantly enhances Lithium Americas' financial position to develop Thacker Pass, a major lithium project. The partnership with GM further solidifies its strategic importance, likely boosting investor confidence and stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100