The Trump administration wants 10% stake in Canadian lithium miner that sells to GM, signaling a surprising shift in its approach to clean energy minerals. While the administration has often criticized the EV transition, it is now pushing for direct equity in Lithium Americas, the company developing the Thacker Pass mine in Nevada.
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The proposal comes as part of a renegotiation of a $2.26 billion Department of Energy loan. In exchange for extending the repayment terms, the U.S. government is seeking up to 10% equity in the company.
Why Lithium Americas Matters
Lithium Americas is building what could become the largest lithium mine in the Western Hemisphere. The Thacker Pass project’s first phase alone could produce enough lithium for 800,000 electric vehicles annually.
The mine has been at the center of U.S. policy shifts, with its permit approved by President Trump in his first term and its financing later secured under President Biden through the DOE’s Loan Program Office.
GM’s Billion-Dollar Bet
GM already plays a major role in this story. Last year, the automaker bought a 38% stake in Lithium Americas for $625 million. That deal gave GM exclusive rights to purchase all of the mine’s first-phase output and a large portion of its second-phase production—enough to support 1.6 million EVs over the next two decades.
The Trump administration is now pressing GM to guarantee these purchases, further tying automakers to the success of the Thacker Pass project.
A Pattern Of Strategic Stakes
This isn’t the first time the U.S. government has pursued equity in strategic industries. Similar deals have recently secured government stakes in Intel and MP Materials. Now, the Trump administration wants 10% stake in Canadian lithium miner that sells to GM, adding clean energy minerals to its list of national interests.
What’s At Stake
The push highlights how critical lithium has become in the global race for EV dominance. While the Trump administration continues to question the speed of the energy transition, securing a foothold in lithium supply ensures leverage over a key resource for automakers.
With global demand for EV batteries soaring, the stakes for GM, Lithium Americas, and the U.S. government are higher than ever.
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