Lithium Americas Corp. announced on October 15, 2024, that it entered into an Investment Agreement with General Motors Holdings LLC to establish a joint venture for the Thacker Pass project. General Motors will contribute a combined $625 million in cash and letters of credit to this new joint venture.
Under the terms, GM will acquire a 38% asset-level ownership stake in Thacker Pass, with $430 million in direct cash funding for Phase 1 construction and a $195 million letter of credit facility. This investment replaces GM's previous $330 million Tranche 2 common equity commitment.
The partnership also includes an extension of GM's existing offtake agreement for up to 100% of Phase 1 production volumes to 20 years, providing long-term revenue certainty. GM will also secure a 20-year offtake agreement for up to 38% of Phase 2 production volumes, further solidifying demand for future output.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.