Trump Administration Aims for 10% Stake in U.S. Lithium Mining Company Supplying GM

Although the Trump administration has branded the energy transition as the “green new scam,” it is concurrently investing significantly in what is poised to be the largest lithium mine in the Western Hemisphere.

In exchange for renegotiating the repayment terms of a $2.26 billion loan from the Department of Energy, the Trump administration is aiming for up to a 10% equity stake in Lithium Americas, a company where GM holds a considerable investment.

This information was reported by Reuters on Tuesday. A White House official mentioned, “President Trump supports this project. He wants it to succeed while being fair to taxpayers. However, there’s no such thing as free money.”

This initiative represents another episode in ongoing negotiations that have aligned U.S. government interests with both Intel and MP Materials.

Lithium Americas is progressing with the Thacker Pass mine in Nevada, with its initial phase projected to produce enough lithium for around 800,000 electric vehicles annually. President Trump authorized the permit for this project at the end of his first term, while the loan was granted by the DOE’s Loan Program Office under President Biden.

Last year, GM purchased a 38% stake in Lithium Americas for $625 million, which also provided the automaker the right to buy the full output of the first phase and secure 20 years of the second phase. Altogether, this agreement would enable the production of 1.6 million EVs over the next two decades.

The Trump administration is reportedly encouraging GM to ensure those purchases, even as it endeavors to impede automakers’ transition to electric vehicles.