In a significant development for the electric vehicle (EV) industry, Vancouver-based Lithium Americas Corp. announced on January 31, 2023, a partnership with U.S. automaker General Motors Co. General Motors committed to investing $867 million (US$650 million) in a joint venture aimed at developing the Thacker Pass mine, the largest known source of lithium in the United States. The investment marks the largest ever by an automaker into the production of battery raw materials.

This collaboration, detailed in a press release, highlights that lithium carbonate extracted from Thacker Pass will be crucial for GM's proprietary Ultium battery cells. GM Chair and CEO Mary Barra emphasized the strategic importance of this deal, stating it secures the materials needed to produce over 1 million EVs annually in North America by 2025. Barra underscored the advantages of sourcing critical EV materials domestically, noting benefits such as supply chain security, cost management, job creation, and economic growth.

Jonathan Evans, President and CEO of Lithium Americas, recognized the agreement as a pivotal step in advancing Thacker Pass towards production. He noted the deal's role in separating Lithium Americas' U.S. and Argentine operations. Evans expressed enthusiasm about GM becoming their largest investor, emphasizing the commitment to establishing a sustainable domestic lithium supply chain for EVs.