GM invests in U.S.-based lithium mining company for EV battery materials

General Motors has invested an undisclosed amount into CTR, the first lithium mining company in the United States.

This is important because as electric vehicles become more mainstream, the world will need more lithium mines to keep up with the huge battery demand that will come along with electric vehicles (EVs).

CTR isn’t expected to actually start extracting lithium until 2024, but GM now has first dibs on the product, according to The Verge. It’s also important to mention that the method GTR uses to extract lithium is reportedly more environmentally conscious than its competitors’

Beyond CTR, the bulk of the world’s lithium comes from Australia and South America. That said, it’s expected that more North American mines will start extracting battery materials like lithium in the coming years to prepare for EVs to become more popular.

Source: The Verge