Lithium Americas reaches final investment decision for Thacker Pass lithium mine

The project not only strengthens the U.S. battery supply chain but also aligns with the government’s clean energy goals and GM’s commitment to an all-electric future.

Lithium Americas Corp. announced on Tuesday that it has made the Final Investment Decision (FID) to begin construction on Phase 1 of the Thacker Pass lithium mine, located in Nevada. This milestone marks a major step forward in establishing a domestic supply of lithium—a critical mineral used in electric vehicle (EV) batteries.

The Thacker Pass project is a strategic joint venture between Lithium Americas and General Motors (GM). Phase 1 is expected to be completed by late 2027, significantly boosting the U.S. supply chain for battery-grade lithium carbonate.

“Together, we will develop a U.S.-produced lithium supply chain to reduce American dependence on foreign suppliers for critical minerals,” said Jonathan Evans, CEO of Lithium Americas.

To fully fund the development of the first phase, Lithium Americas and GM have contributed an additional $192 million and $100 million, respectively. This injection of capital brings the joint venture to a fully funded status for Phase 1 construction.

The project also benefits from a $2.26 billion loan finalized by the U.S. Department of Energy (DOE) last year, alongside $650 million in financial support from GM, underlining the national importance of domestic lithium production.

Once operational, Thacker Pass is projected to produce 40,000 metric tons of battery-quality lithium carbonate annually, which is enough to power up to 800,000 electric vehicles. This production capacity will position the U.S. as a key player in the clean energy transition and EV market.

The project not only strengthens the U.S. battery supply chain but also aligns with the government’s clean energy goals and GM’s commitment to an all-electric future.