Trump’s administration may be a fan to call on the energy transition to the “green new fraud”, but this does not prevent it from looking for a significant share in what it promises to be the largest lithium mine in the western hemisphere.
In return for renegotiation of the repayment period of an energy loan section of $ 2.26 billion, Trump’s management is seeking up to 10% share capital in Lithium Americas, a company in which GM is an important investor.
Reuters first mentioned The news on Tuesday. “President Trump supports this project, wants to succeed and also be fair for taxpayers,” a White House official told the news organization. “But there is nothing like free money.”
The move would be the last in a series of negotiations given by US government shares in Intel and MP materials.
Lithium Americas is developing my own Thacker Pass in Nevada. The first phase will produce enough lithium to make 800,000 electric vehicles per year. President Trump approved permission for the project at the end of his first term and the loan was awarded by the office of DOE’s loan program under President Biden.
GM bought 38% last year at Lithium Americas for $ 625 million, a deal that also gave the automotive industry the right to buy the entire first phase of production and 20 years of the second phase. Overall, this would be enough for 1.6 million EVs for the next two decades.
Trump’s administration asks GM to guarantee these markets, even when working to prevent automakers from moving to EVs.
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Correction: A previous version of the title was reported to Lithium Americas as an American company. It is based in Canada.
