It looks like President Donald Trump doesn’t hate green energy after all. In exchange for renegotiating the repayment period of a $2.26 billion Department of Energy loan, the Trump administration is asking for as much as 10% equity in Lithium Americas, a company in which General Motors is a major investor.
Reuters first reported the news Tuesday. “President Trump supports this project. He wants it to succeed and also be fair to taxpayers,” a White House official told the news organization. “But there’s no such thing as free money.”
Lithium Americas Corp. is advancing the Thacker Pass project in Nevada, one of the largest known lithium deposits in the U.S. In 2025, the company reached Final Investment Decision (FID) on Phase 1, which is targeting 40,000 tonnes per year of battery-grade lithium carbonate with mechanical completion expected in late 2027. Lithium Americas holds a 62% stake and manages the project; General Motors owns 38%, following a $650 million investment.
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To fund construction, the project secured a $2.26 billion conditional loan from the U.S. Department of Energy and a $250 million strategic investment from Orion Resource Partners. As of mid-2025, major construction is underway, including initial concrete placements.
Thacker Pass has a projected mine life of over 85 years, and the company holds more than 14 million tonnes of proven and probable lithium reserves. The project is central to U.S. efforts to build a domestic EV battery supply chain.
The move would be the latest in a string of negotiations that have given the U.S. government stakes in Intel and MP Materials.
Lithium is a critical mineral essential for manufacturing lithium-ion batteries, which power electric vehicles (EVs), portable electronics, and energy storage systems. Global demand for lithium continues to rise sharply due to the accelerating transition to clean energy and electrification of transportation.
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Governments, including the U.S., classify lithium as a strategic resource and are investing heavily in domestic production to reduce reliance on imports. The U.S. Department of Energy supports lithium projects such as the Thacker Pass mine in Nevada through multi-billion-dollar loans.
Lithium’s high energy density and light weight make it ideal for EV batteries, enabling longer driving ranges and efficient energy storage. With global EV sales increasing and battery manufacturing expanding, lithium remains vital for achieving carbon reduction goals worldwide.
As construction progresses toward completion in 2027, Thacker Pass is poised to become a cornerstone of North America’s EV battery ecosystem, contributing to long-term energy sustainability and reducing reliance on foreign imports.