Let’s spend more time with something we only grazed yesterday: GM’s $650 million equity investment in Lithium Americas Corp. to support development of the Thacker Pass mine in Nevada, Ben writes.

Driving the news: Lithium America’s share price jumped nearly 15% on the news of what the companies call the “largest-ever investment by an automaker to produce battery raw materials.”

Why it matters: Automakers are competing intensely to secure raw materials needed for EV expansion plans.

  • In the U.S., they’re also looking to meet sourcing requirements for vehicles eligible for consumer tax subsidies.

What we’re watching: Auto giants are already working with mining companies to secure supplies, and we’ll also be watching for more equity investments.

  • Simon Moores, CEO of Benchmark Mineral Intelligence, tells CNBC that automakers are realizing the need for ownership or controlling stakes in raw materials sources.
  • “It’s the only way you’re going to have the edge and guarantee you can make EVs over the next 20 years,” the analyst said.

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