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General Motors is investing $625 million in the electric vehicle supply chain. The funds will help Lithium Americas Corp develop and operate a major lithium mine in Nevada.

General Motors has outperformed the market in 2024, unlike most automakers, due to strong earnings and effective cost-reduction strategies. GM's Q3 earnings and FY2025 prospects look promising, driven by a $2B reduction in fixed costs and growing market share, especially in EVs. GM's Q3 earnings are also particularly delicate because they will have to prove whether the company can keep moving counter to the industry trend.

General Motors is working with Forge Nano, a materials science startup, to find new ways to enhance the performance and lifetime of electric vehicle battery cells.

General Motors Company (NYSE:GM) will invest $625 million into a joint venture with Lithium Americas Corp (TSX:LAC, NYSE:LAC) to advance the Thacker Pass lithium carbonate mine in Humboldt County, Nevada. GM will acquire a 38% interest in the project by committing $625 million in cash and letters of credit while Lithium Americas will contribute $387 million in funding for 62% ownership in the project.

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GM has agreed to establish a joint venture with Lithium Americas Corp. that includes the automaker supplying $625 million in cash and credit to the company. The deal is centered on the development, construction and operation of a lithium carbonate mining operation called Thacker Pass in Humboldt County, Nevada.

Canada's Lithium Americas said General Motors will boost investment in the miner's Thacker Pass project, which produces the critical ingredient for electric-vehicle batteries.

DENVER, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Forge Nano, Inc., a materials science company that uses its Atomic Armor™ Atomic Layer Deposition technology to optimize material performance to enable better products, today announced a $10M investment from GM Ventures, the venture arm of General Motors (NYSE: GM). The investment adds to its previous $50 million Series C with participation from Hanwha (KRX: 000880), Orion Infrastructure Capital (NYSE: ORN), Catalus Capital and Ascent Funds. The company has raised more than $100 million to date with additional investments from Volkswagen (OTC: VWAGY), Mitsui Kinzoku (OTC: MMSMY), LG Technology Ventures (KRX: 003550), Sumitomo Corporation of Americas (OTC: SSUMF), Air Liquide (OTC: AIQUY) and SBI Investment (OTC: SBHGF).

Canadian miner Lithium Americas said on Wednesday General Motors will contribute $625 million to their new joint venture for developing the Thacker Pass project in Nevada.