General Motors (GM) is ramping up its efforts to secure North American investments in lithium and other essential minerals for electric vehicle production after significantly increasing its stake in a Nevada lithium mine. Earlier this week, the automaker announced a joint venture with Lithium Americas to develop the Thacker Pass lithium mine, which is the largest source of lithium in North America.
This partnership enhances GM’s investment in the Thacker Pass project by an additional USD 325 million, bringing the total investment to nearly USD 1 billion. The deal not only grants GM partial ownership of the mine but also extends its access to lithium production for at least 20 years.
While the Thacker Pass venture is expected to provide a substantial supply of lithium, GM is also exploring additional partnerships for other critical minerals across North America. Jeff Morrison, GM’s senior vice president of global purchasing and supply chain, noted in an interview that the company remains open to various arrangements, not limited to joint ventures.
“We don’t want to become a mining company,” Morrison emphasised. “Our main goal is to build out a North American-based, Western-allied, reliable supply chain.” He highlighted the importance of selecting the right partners and assets to help industrialise and succeed in the mineral supply sector.
In addition to its lithium endeavors, GM has established agreements to procure cobalt from Glencore and has invested in nickel and cobalt miner Queensland Pacific Metals. The automaker also has a lithium supply deal with Arcadium Lithium. Furthermore, GM invested in the Controlled Thermal Resources Hell’s Kitchen geothermal brine project in California, although this initiative has faced delays.
Morrison reassured stakeholders that GM is actively engaged with Controlled Thermal Resources and remains committed to collaborating closely with them as they work through challenges. As GM seeks to strengthen its supply chain, the focus on securing domestic mineral sources reflects a broader strategy to enhance the sustainability and reliability of its electric vehicle production.