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: