Lithium: Us takes 5% stake in Lithium Americas, Move to Reduce Dependence on China – Amar Ujala Hindi News Live

Lithium US shares increased by more than 30 percent in early trade on Wednesday.

Dependence on foreign rivals will be reduced

The DOE has also decided to take a 5 percent stake in the ongoing Thacker Pass Lithium Project with Lithium US and General Motors. The thacker pass project will play an important role in the supply of high quality battery lithium used in electric vehicles, mobile phones and renewable energy. US Energy Secretary Chris Wright said that this agreement will reduce our dependence on foreign rivals and ensure better management of American taxpayers’ money.

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40,000 metric tons of battery-grade lithium carbonate production

In the first phase, the thacker pass project is expected to produce 40,000 metric tons of battery-grade lithium carbonate annually, which is sufficient to operate about 8 lakh electric vehicles. With the move, the US government has continued its strategy of direct investment in private companies. Earlier, the government also won the Intel, MP Material and NVDia/AMD.

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Lithium US has planned to take the first part of the $ 435 million federal loan in advance under a non-comprehensive agreement with DOE. General Motors has promised to invest more than $ 900 million in the Thacker Pass project. Analyst Dan Iaves described it as a huge opportunity for the US and said that this would reduce the dependence in the case of lithium supply on China and other foreign countries.