Lithium Americas has closed a $2.26 billion DOE loan under the ATVM program for its Thacker Pass project, including $1.97 billion in principal and $290 million in capitalized interest. The 24-year loan features interest rates fixed at U.S. Treasury rates with no additional spread. Additionally, the company entered into a joint venture agreement with GM, who will acquire a 38% stake in Thacker Pass for $625 million in cash and letters of credit.Construction at Thacker Pass Phase 1 continues to progress, with detailed engineering approximately 40% complete and major earthworks underway. The project is expected to create 1,800 construction jobs and 360 operational positions. The company has awarded procurement packages for key equipment and construction materials, with mechanical completion targeted for 2027.As of September 30, 2024, Lithium Americas had $341.2 million in cash and cash equivalents. The DOE loan, GM's JV investment, and existing cash are expected to substantially fund Phase 1 construction. The company is evaluating additional financing alternatives to fund corporate working capital prior to the first DOE loan drawdown, anticipated in mid-2025.

Lithium Americas has closed a $2.26 billion DOE loan under the ATVM program for its Thacker Pass project, including $1.97 billion in principal and $290 million in capitalized interest. The 24-year loan features interest rates fixed at U.S. Treasury rates with no additional spread. Additionally, the company entered into a joint venture agreement with GM, who will acquire a 38% stake in Thacker Pass for $625 million in cash and letters of credit.Construction at Thacker Pass Phase 1 continues to progress, with detailed engineering approximately 40% complete and major earthworks underway. The project is expected to create 1,800 construction jobs and 360 operational positions. The company has awarded procurement packages for key equipment and construction materials, with mechanical completion targeted for 2027.As of September 30, 2024, Lithium Americas had $341.2 million in cash and cash equivalents. The DOE loan, GM's JV investment, and existing cash are expected to substantially fund Phase 1 construction. The company is evaluating additional financing alternatives to fund corporate working capital prior to the first DOE loan drawdown, anticipated in mid-2025.