Lithium Americas Corp. announced on December 20, 2024, the closing of its previously announced joint venture with General Motors Holdings LLC for the Thacker Pass project in Nevada. Lithium Americas now holds a 62% interest in Thacker Pass and will manage the project.
General Motors acquired a 38% interest in Thacker Pass for $625 million in total cash and letters of credit. As part of the closing, GM funded $330 million of cash into the joint venture, alongside $138 million from Lithium Americas.
The remaining $100 million cash contribution from GM and Lithium Americas' $181 million contribution are slated for the final investment decision (FID) for Phase 1. This closing also included an amendment of the DOE Loan documents to accommodate the JV formation, with principal terms remaining unchanged.
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