General Motors Takes $1.6 Billion Charge to Right-Size EV Capacity
GM booked a $1.6B charge, reducing its EV production plans. Demand is slower than expected due to gov't ending tax credits and changing rules.
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US Government Secures Equity Stake in Thacker Pass to Fuel Domestic Lithium Independence
The U.S. Department of Energy (DOE) has secured a 5% equity stake in Lithium Americas and 5% in its Thacker Pass joint venture with GM, finalizing terms for a $435 million initial loan draw to boost domestic lithium supply and challenge China's market dominance.
GM Stock Gets a Significant UBS Upgrade!
UBS upgraded GM stock to Buy ($81 target). Analysts expect high profits (8-10% margins) in North America, beating current expectations.
Trump Administration Seeks Stake in Lithium Americas
The U.S. government wants up to 10% ownership in Lithium Americas' Thacker Pass mine, vital for U.S. electric vehicle (EV) batteries. This demand is tied to a $2.26B loan and aims to boost domestic supply to cut reliance on China.