National

GM to invest US$650 million in Lithium Americas

Darpan News Desk The Canadian Press, 31 Jan, 2023 10:57 AM

VANCOUVER - General Motors Co. has signed a deal to invest US$650 million in Lithium Americas Corp. which is developing the Thacker Pass lithium project in Nevada.

Under the agreement, GM will receive exclusive access to Phase 1 production from the mine through a binding supply agreement and a right of first offer on Phase 2 production.

Lithium is a key component in batteries used by electric vehicles.

In the first tranche of the investment deal, GM spend US$320 million for 15 million shares or a 9.999 per cent stake in Lithium Americas.

The automaker will make a second investment worth US$330 million in the company’s U.S. business following a separation of its U.S. and Argentine businesses.

Phase 1 production at Thacker Pass is expected to start in the second half of 2026.

Prev Next

MORE National ARTICLES

Surrey residence riddled with bullet holes after Sunday morning shooting

At approximately 4:30pm, on Sunday, Surrey RCMP responded to a report of shots fired in the 12300 block of 68thavenue. Responding officers attended and found shots fired into a residence and confirmed there were no injuries.

Surrey residence riddled with bullet holes after Sunday morning shooting

B.C. school support staff have tentative deal

The Finance Ministry says the deal is between the Public School Employers' Association and school presidents' councils representing 57 locals of the Canadian Union of Public Employees.

B.C. school support staff have tentative deal

VPD seizes cache of weapons from Hastings Street tent encampment

VPD patrol officers launched a criminal investigation earlier this week after receiving information illicit drugs and weapons were being stored inside a tent near Main and Hastings. 5 people were arrested. The investigation remains ongoing.

VPD seizes cache of weapons from Hastings Street tent encampment

Parole extended for Victoria killer 25 years later

A Parole Board of Canada decision says 40-year-old Kerry Sim, who was formerly known as Kelly Ellard, has been authorized to remain on day parole but with numerous conditions. Sim was 15 years old when she and a group of teenagers swarmed and beat Virk, and her trial heard she and a co-accused later followed the 14-year-old girl to continue the beating and drown her in the Gorge waterway.

Parole extended for Victoria killer 25 years later

B.C. premier stresses more collaboration in speech

Horgan told local elected leaders at the Union of B.C. Municipalities convention that he wasn't there to make splashy funding announcements, which he called lolly, but rather to start or continue collaborative initiatives aimed at bringing results.

B.C. premier stresses more collaboration in speech

Altercation between youth groups results in youth being stabbed in Newton

Police say they are working to identify two suspects, they are described as South Asian youths believed to be between 15 and 17 years old, who left the area before police arrived. They say one of the suspects may have sustained superficial injures during the altercation.