DETROIT, July 2, 2021 /PRNewswire/ -- General Motors
has agreed to form a strategic investment and commercial
collaboration with Controlled Thermal Resources to secure local and
low-cost lithium. This lithium will be produced through a
closed-loop, direct extraction process that results in a smaller
physical footprint, no production tailing and lower carbon dioxide
emissions when compared to traditional processes like pit mining or
evaporation ponds.
Lithium is a metal crucial to GM's plans to make more
affordable, higher mileage electric vehicles.
The relationship between GM and CTR is expected to accelerate
the adoption of lithium extraction methods that cause less impact
to the environment. A significant amount of GM's future
battery-grade lithium hydroxide and carbonate could come from CTR's
Hell's Kitchen Lithium and Power development in the Salton Sea
Geothermal Field, located in Imperial,
California. With the help of GM's investment, CTR's
closed-loop, direct extraction process will recover lithium from
geothermal brine.
As an anticipated part of its $35
billion global commitment to EVs and autonomous vehicles ,
GM will be the first company to make a multi-million dollar
investment in CTR's Hell's Kitchen project. As the first investor,
GM will have first rights on lithium produced by the first stage of
the Hell's Kitchen project, including an option for a multi-year
relationship.
"Lithium is critical to battery production today and will only
become more important as consumer adoption of EVs increases, and we
accelerate towards our all-electric future," said Doug Parks, GM executive vice president, Global
Product Development, Purchasing and Supply Chain. "By securing and
localizing the lithium supply chain in the U.S., we're helping
ensure our ability to make powerful, affordable, high mileage EVs
while also helping to mitigate environmental impact and bring more
low-cost lithium to the market as a whole. GM looks forward to
working with CTR, in addition to state and local leaders, in
achieving these goals."
Batteries are and will remain one of the largest cost drivers of
EVs. Lithium is a key battery material used in the cathodes and
electrolytes of GM EVs like the Chevrolet Bolt EV and Bolt EUV.
Lithium will become even more important in battery use as GM
explores lithium metal batteries with a protected anode.
Most lithium used in lithium-ion batteries is currently mined
and processed outside of the U.S.
The first stage of the Hell's Kitchen project is expected to
begin yielding lithium in 2024, helping GM to meet its aspiration
of eliminating tailpipe emissions from light-duty vehicles by
2035.
General Motors (NYSE:GM) is a global company focused
on advancing an all-electric future that is inclusive and
accessible to all. At the heart of this strategy is the Ultium
battery platform, which will power everything from mass-market to
high-performance vehicles. General Motors, its subsidiaries and its
joint venture entities sell vehicles under the
Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands.
More information on the company and its subsidiaries,
including OnStar, a global leader in vehicle safety and
security services, can be found
at https://www.gm.com.
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content:https://www.prnewswire.com/news-releases/gm-to-source-us-based-lithium-for-next-generation-ev-batteries-through-closed-loop-process-with-low-carbon-emissions-301324868.html
SOURCE General Motors Co.