GM to invest $650 million in the lithium company Lithium Americas to support its EV business, which CEO Mary Barra says will have 'a breakout year' in 2023.
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 Chair and CEO Mary Barra said in a statement announcing the investment.
In exchange for its investment, GM will get exclusive access to the first phase of lithium production and the right of first offer on the second phase of lithium production that will come out of, which is the largest source of lithium that has been identified in the United States, according to GM and Lithium Americas.
"It's an exciting milestone, and we couldn't ask for a better organization than General Motors to become our largest investor," Lithium Americas President and CEO Jonathan Evans told CNBC. "GM shares our commitment to meaningfully advancing the energy transition, and I'm confident that together we can make Thacker Pass a major player in a secure, integrated North American supply chain from critical battery materials to EVs.
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