GM conditionally OKs $650M Nevada lithium mine investment

By SCOTT SONNER
Associated Press

RENO, Nev. (AP) — General Motors has conditionally agreed to invest $650 million in Lithium Americas in a deal that will give GM exclusive access to the first phase of a mine planned near the Nevada-Oregon line with the largest known source of lithium in the U.S. The equity investment the companies announced jointly Tuesday is contingent on the project clearing the final environmental and legal challenges it faces in federal court in Reno, where conservationists and tribes are suing to block it. GM said Tuesday’s announcement marks the largest-ever investment by an automaker to produce battery raw materials. The mine could support production of up to 1 million electric vehicles annually.