First production expected in 2027
Lithium Americas closed a US$2.26 billion loan from the US Department of Energy for the development of its Thacker Pass project in Nevada.The loan, which was first announced in March and is funded through the Advanced Technology Vehicles Manufacturing Loan Program, can be used by Lithium Americas to finance the construction of processing facilities at Thacker Pass.
In addition to the US government loan, Lithium Americas has an investment agreement with General Motors to establish a joint venture for Thacker Pass. Under the agreement, General Motors will acquire a 38% stake in the project for $625 million."We have substantially de-risked project financing for Phase 1 and continue to work closely with General Motors following our announcement of the asset-level joint venture," Evans said.
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