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Stock impact report

GM to invest $625 million in joint venture to mine EV battery raw materials in U.S. [MSNBC.com]

Lithium Americas Corp. Common Shares (LAC) 
Last lithium americas corp. common shares earnings: 11/12 07:00 am Check Earnings Report
Company Research Source: MSNBC.com
DETROIT —General MotorsLithium Americas Corp.The deal is centered on the development, construction and operation of a lithium carbonate mining operation called Thacker Pass in Humboldt County, Nevada. Lithium is a key component for batteries that power electric vehicles.Securing raw materials such as lithium from the U.S. is crucial to GM’s plans toprofitably grow its all-electric vehicle“We’re pleased with the significant progress Lithium Americas is making to help GM achieve our goal to develop a resilient EV material supply chain,” Jeff Morrison, GM senior vice president of global purchasing and supply chain,said in a releaseThe announcement sent shares of Lithium Americas roughly 10% higher in early trading Wednesday to around $3. The stock had jumped more than 20% during premarket trading on the agreement, which hadpreviously been announcedGM will have a 38% interest in Thacker Pass, according to the release. The joint venture investment is expected to include $330 million cash t Show less Read more
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