I believe the process to secure loan from DOE will be faster.
Below is the timeline of Lithium America's DOE credit facility securing.
- April 2022: Lithium Americas Corp applied for the DOE ATVM Loan Program.
- Jan 2023, Lithium Americas entered into a binding supply agreement with General Motors.
- Feb 2023: GM provided the initial $320 million investment tranche.
- Feb 2023: Lithium Americas Corp. received a Letter of Substantial Completion from the U.S. DOE Loan Programs Office.
- Sep 2023: DOE proposed to issue a loan to Lithium America.
- Mar 2024: Lithium Americas secured a $2.26 billion loan for Thacker Pass.
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