US government may buy 10% stake in Nevada lithium mine
The Trump administration is negotiating for a 10% stake in Lithium Americas, the company building the Thacker Pass lithium mine in Nevada.
This move follows a review of a $2.26 billion Department of Energy loan signed last year.
With over 600 contractors on-site, Thacker Pass is set to become the largest lithium source in the Western Hemisphere by 2028.
Why the sudden interest in Thacker Pass?
Lithium from Thacker Pass could power up to 800,000 electric vehicles each year—huge for anyone who cares about EVs and clean tech.
General Motors already owns a 38% stake in the Thacker Pass project and has dibs on the first batch of lithium.
The government's push for more control and stricter deals comes as cheap Chinese lithium threatens US prices.
Basically, this project is about securing homegrown battery materials and making sure America stays competitive in the EV race.