Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) has announced an update regarding its collaboration with General Motors Holdings LLC (GM). They have agreed to extend the outside date for the second tranche of their subscription agreement until the end of the year.

Lithium Americas and GM Partnership

Lithium Americas and GM have a shared vision to develop a strong domestic lithium supply chain. GM remains committed to its plan to invest an additional $330 million in the Thacker Pass project, the largest known lithium resource in North America.

Thacker Pass Development

The Thacker Pass project, located in northern Nevada, is progressing with plans to enhance Phase 1 production. The company is working with Bechtel and other stakeholders, aiming to create around 1,800 jobs over the three-year construction period.

Next Steps in the GM Investment

During this extension period, Lithium Americas and GM will explore alternative investment options. The company is also working to finalize a $2.26 billion loan agreement with the U.S. Department of Energy (DOE) to support this development.

Background on Previous Agreements

Originally, GM agreed to a $650 million equity investment in January 2023, divided into two tranches for constructing Thacker Pass. The first tranche of $320 million closed earlier, and the restructuring of the second tranche has been formalized.

About Lithium Americas
Lithium Americas focuses on responsibly advancing the Thacker Pass project. Its shares are listed on both the Toronto and New York Stock Exchanges under the symbol LAC.

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