GM doubles down on EV batteries, invests $625M in lithium project [Yahoo! Finance Canada]
Lithium Americas Corp. Common Shares (LAC)
Last lithium americas corp. common shares earnings: 11/12 07:00 am
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Source: Yahoo! Finance Canada
GM and miner Lithium Americas ( LAC ) announced the two companies will create a joint venture to develop and mine a site known as “Thacker Pass” in Humboldt County, Nev. GM will invest the $625 million in the form of a $430 million direct payment and $195 million in credit to support construction of the site. The inclusion of the $195 million in credit unlocks a critical Department of Energy loan worth $2.3 billion to support the project. "Sourcing critical EV raw materials, like lithium, from suppliers in the US, is expected to help us manage battery cell costs, deliver value to our customers and investors, and create jobs," said Jeff Morrison, GM senior vice president of global purchasing and supply chain, in a statement. Added Lithium Americas CEO Jonathan Evans, "Today's joint venture announcement is a win-win for GM and Lithium Americas. GM's JV Investment demonstrates their continued support and helps us to unlock the previously announced $2.3 billion DOE Loan.” The clay
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News
- Auto Roundup: HMC-NSANY Merger Plans, GM's Thacker Pass JV Deal & More [Yahoo! Finance]Yahoo! Finance
- LAC & GM Close Thacker Pass JV: Is Lithium Americas a Buy Now? [Yahoo! Finance]Yahoo! Finance
- Lithium Americas Announces Closing of Thacker Pass Joint Venture with General MotorsBusiness Wire
- Lithium Americas Corp. (NYSE: LAC) is now covered by analysts at Wedbush. They set a "neutral" rating and a $5.00 price target on the stock.MarketBeat
- Lithium Americas Corp.'s (TSE:LAC) market cap dropped CA$388m last week; individual investors who hold 56% were hit as were institutions [Yahoo! Finance]Yahoo! Finance
LAC
Earnings
- 5/13/24 - Beat
LAC
Sec Filings
- 12/23/24 - Form SCHEDULE
- 12/23/24 - Form 6-K
- 11/7/24 - Form 6-K
- LAC's page on the SEC website