![]() ![]() "There's a great window of opportunity here to develop more lithium in the United States," Colwell said. producer of the white metal, with production roughly twice as much planned by a rival Nevada project from Lithium Americas Corp (LAC.TO). ![]() That output would make CTR's Hell's Kitchen the largest U.S. The company expects to obtain federal environmental permits by the end of next year. The Hell's Kitchen project could be producing 60,000 tonnes of lithium - enough to make roughly 6 million EVs, depending on design - by mid-2024 if all goes as planned, said Rod Colwell, CTR's chief executive. The move could spark other automakers to follow suit with similar partnerships, especially as demand for the metal is expected to outstrip supply by 20% within four years, according to industry consultant Benchmark Mineral Intelligence. While other automakers, including China's Great Wall Motor Co (601633.SS) and BYD (002594.SZ), have invested in lithium producers before, none appear to have taken such an aggressive step to be part of the production process, as GM is taking with CTR. The company declined to be more specific on its investment amount, but said the project's lithium will be used to build EVs in the United States and that GM engineers and scientists will visit the site once pandemic-related travel restrictions end. "This will supply a sizeable amount of our lithium needs," said Tim Grewe, GM's director of electrification strategy. The deal, announced on Friday, comes as automakers around the world scramble for access to lithium and other electric vehicle (EV) metals as internal combustion engines are phased out.ĭetroit-based GM said it will make a "multimillion-dollar investment" in and help develop Controlled Thermal Resources (CTR) Ltd's Hell's Kitchen geothermal brine project near California's Salton Sea, roughly 160 miles (258 km) southeast of Los Angeles. lithium project that could become the country's largest by 2024, making the automaker one of the first to develop its own source of a battery metal crucial for the electrification of cars and trucks. July 2 (Reuters) - General Motors Co (GM.N) is investing in a U.S. ![]()
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