GM, Lithium Americas Joint Venture
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robust domestic lithium supply chainCNBC
•GM to invest $625 million in joint venture to mine EV battery raw materials in U.S.
83% Informative
The deal is centered on the development, construction and operation of a lithium carbonate mining operation in Nevada .
Lithium is a key component for batteries that power electric vehicles.
Securing raw materials such as lithium from the U.S. is crucial to GM 's plans to profitably grow its all-electric vehicle business.
The announcement sent shares of Lithium Americas surging by more than 20% during premarket trading Wednesday .
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