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General Motors leads US$50million investment in lithium extraction startup

Automaker General Motors has announced it is expanding deeper into the mining sectors for critical minerals for electric batteries with its latest investment in privately-owned EnergyX. The company promises a new technology “Direct Lithium Extraction” for more efficient lithium mining.

The collaboration is focused on unlocking the North American supply of lithium, a critical material for EV batteries, by using EnergyX’s innovative process to maximize efficiency while improving sustainability for GM’s rapidly scaling EV production.

It’s not known how much of the US$50million Series B round it was funding.

“We are committed to securing EV-critical minerals that are sustainable and cost competitive”
— Jeff Morrison, GM’s vice president of global purchasing and supply

The move is part of a much bigger trend across the mining and electric vehicle sector with more partnerships and investments to secure reliable sources of critical minerals, as highlighted by our recent report from PDAC:

PDAC key takeaways: mining goes long on optimism

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