Lithium Americas (US:LAC) Xin Lang Cai Jing·2025-10-23 00:36Core Insights - Lithium Americas has drawn its first $435 million from the U.S. Department of Energy's Advanced Technology Vehicles Manufacturing loan program to advance the Thacker Pass lithium mine development in Nevada [1] - The Thacker Pass project is planned to produce 40,000 tons of battery-grade lithium carbonate annually, expected to commence production in 2028, potentially supplying materials for 800,000 electric vehicles and becoming the largest lithium source in the Western Hemisphere [1] Financial and Project Details - The funding is part of a $2.26 billion loan agreement with the DOE, specifically allocated for the first phase of construction [1] - In exchange for the loan, the DOE will hold a 5% equity stake in both Lithium Americas and the project through warrants, and the repayment term for the initial $182 million debt has been extended by five years [1] Strategic Partnerships - General Motors holds a 38% stake in the Thacker Pass project and has signed a 20-year priority procurement agreement for lithium materials [1] - The U.S. government's initiative aims to reduce dependence on Chinese lithium processing, as current domestic lithium production is less than 5,000 tons annually, with the project expected to significantly enhance self-sufficiency [1]