Trump administration wants 10% stake in American lithium miner that sells to GM

The Trump administration is taking bold steps towards securing a stake in what is poised to become the largest lithium mine in the Western Hemisphere. Despite its past skepticism about the energy transition, the administration is negotiating for up to a 10% equity share in Lithium Americas, a key player in the lithium market, particularly as it relates to electric vehicles. This move comes in exchange for extending the repayment period of a substantial $2.26 billion loan from the Department of Energy. A White House official emphasized President Trump’s support for the project, stating, "He wants it to succeed and also be fair to taxpayers. But there’s no such thing as free money." Lithium Americas is in the process of developing the Thacker Pass mine located in Nevada. Once operational, the initial phase of this project is expected to yield enough lithium to power approximately 800,000 electric vehicles annually. Notably, President Trump approved the necessary permits for the mine during the latter part of his first term, while the loan was sanctioned by the Department of Energy under President Biden's administration. General Motors (GM) has already made significant investments in Lithium Americas, acquiring a 38% stake for $625 million. This deal not only allows GM to purchase all of the initial production output but also secures rights for the subsequent phase over the next 20 years, potentially supplying lithium for 1.6 million electric vehicles. As the negotiations unfold, the Trump administration is reportedly urging GM to commit to these purchases, even as it continues to face challenges in facilitating the automotive industry's shift towards electric vehicles.