Lithium Americas Corp. (LAC.TO,LAC) Wednesday announced that it has inked a new investment deal with General Motors Holdings LLC to establish a joint venture for the purpose of funding, developing, constructing and operating Thacker Pass in Humboldt County, Nevada.
The JV transaction will deliver $625 million of cash and letters of credit from GM to Thacker Pass alongside the conditional commitment for a $2.3 billion U.S. Department of Energy loan announced earlier this year.
Under the terms of the Investment Agreement, GM will acquire a 38% asset-level ownership stake in Thacker Pass for $625 million in total cash and letters of credit, including $430 million of direct cash funding to the JV to support the construction of Phase 11 and a $195 million letter of credit facility that can be used as collateral to support reserve account requirements2 under the DOE Loan.
The JV transaction replaces the $330 million Tranche 2 common equity investment commitment from GM under its original investment agreement with the company announced in January 2023.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.