GM shakes up lithium industry with California geothermal project
July 2 (Reuters) - General Motors Co (GM.N) is investing in a U.S. 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.
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.
Detroit-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.
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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 company expects to obtain federal environmental permits by the end of next year.
https://www.reuters.com/business/autos-transportation/gm-shakes-up-lithium-industry-with-california-geothermal-project-2021-07-02/
Environmental permits in California? I'll believe it when it happens.
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