GM and a company called Lithium Americas are investing in a lithium mine located in Nevada. The Thacker Pass mine is supposedly the largest known source of lithium in the United States and the third largest known site in the world. GM will invest $650 million and in return get exclusive access to the mine’s first phase of production. The lithium will be used in GM’s Ultium batteries which will power vehicles like the 2024 Chevrolet Silverado EV.
Lithium is a Key Component in EV Batteries
Lithium Americas estimates that it will be able to mine enough lithium every year to supply batteries for up to a million vehicles. Lithium is a key material in lithium-ion batteries and stands up well to repeated charging and discharging. Lithium also enables fast charging, which is becoming more and more important as companies compete to extend range and cut the down time necessary for…
GM Makes Huge Investment to Guarantee up to One Million Batteries for EVs Like 2024 Chevrolet Silverado EV
