The Biden administration has announced a significant move to bolster the U.S. electric vehicle (EV) sector by providing a conditional $2.26 billion loan to Lithium Americas ($LAC) for the development of the Thacker Pass mine in Nevada. This initiative is part of the government's efforts under the Bipartisan Infrastructure Law and Inflation Reduction Act to establish a U.S. supply chain for critical minerals essential for the EV transition. The loan, conditionally approved by the U.S. Department of Energy (DOE), aims to enhance domestic production of lithium, a key component in EV batteries, under stringent U.S. environmental laws. The project is expected to have a positive impact on the domestic supply chain, with emphasis on environmental compliance and community benefits.
Options traders buzzing on $LAC after the lithium company reported that the U.S. Department of Energy will lend it $2.26B for Nevada's Thacker Pass project. @michael_khouw breaks down the @optionsaction : https://t.co/nOJgciZP5j
Very excited to see Lithium Processing ramping up here in the United States. From the environmental compliance and community benefits requirements to the projected impact on the domestic supply chain, some of the fast facts about the Thacker Pass project https://t.co/mad90ujNgU https://t.co/phlQnmZIye
The Biden Admin is making good on the intent of the Bipartisan Infrastructure Law & Inflation Reduction Act to build a US supply chain for critical minerals needed for the EV transition. We need these minerals. Supplying more of them in the US under US environmental law is good. https://t.co/SsmB2NEGrc
Thacker Pass Receives Conditional $2.26 Billion Loan Commitment From US DOE $LAC #ThackerPass #lithium #mining #DOE https://t.co/44s04tN2fD via @TheDeepDive_ca
EXCLUSIVE: Biden admin jumpstarts U.S. EVs with $2.26B loan to Lithium Americas for Thacker Pass mine https://t.co/lbRCsXFxTJ