General Motors to invest $625 million in lithium mining

As per a collaborative announcement, the joint venture will concentrate on extracting lithium carbonate at the Thacker Pass project in Nevada. GM will acquire a 38% ownership interest in the project. Lithium plays a vital role in manufacturing batteries for electric cars.

Last February, GM had already put $320 million into Lithium Americas, acquiring approximately 15 million shares of the company.

Lithium Americas saw a 15% increase in their shares on Wednesday during trading. The stock price of GM has increased by 2.1%.

source: bloomberg.com