General Motors Chair and CEO Mary Barra is shown on screen via livestream as she introduces her digitally delivered keynote address at CES 2022 at The Venetian Las Vegas on January 5, 2022 in Las Vegas, Nevada.
DETROIT — General Motors has agreed to establish a joint venture with Lithium Americas Corp. that includes the automaker supplying $625 million in cash and credit to the Canadian mining business, the companies announced Wednesday.
The deal is centered on the development, construction and operation of a lithium carbonate mining operation called Thacker Pass in Humboldt County, Nevada.
Securing raw materials such as lithium from the U.S. is crucial to GM's plans to profitably grow its all-electric vehicle business to meet tightening federal requirements of the vehicles and the large batteries needed to power them.
"Sourcing critical EV raw materials, like lithium, from suppliers in the U.S., is expected to help us manage battery cell costs, deliver value to our customers and investors, and create jobs."
Persons:
Mary Barra, Motors, We're, Jeff Morrison
Organizations:
DETROIT —, Lithium Americas Corp, GM
Locations:
Vegas, Las Vegas , Nevada, DETROIT, Humboldt County , Nevada, U.S