Lithium Americas Corp. announced today that it has received its first $435 million drawdown from a $2.23 billion guaranteed loan from the U.S. Department of Energy’s Advanced Technology Vehicles Manufacturing (ATVM) Loan Program. The drawdown will finance construction of the processing facilities at the Thacker Pass lithium project in Nevada, moving the project closer to mechanical completion of Phase 1.
The loan’s principal is $1.97 billion with an estimated $256 million in capitalized interest during construction. Interest will be calculated at the applicable long‑dated Treasury rate with a 0% spread, and the loan has a 23‑year tenor, with scheduled repayments of principal and interest beginning in January 2029.
This first drawdown reduces the financing gap for Thacker Pass, demonstrates progress on the project’s construction schedule, and provides the capital needed to advance the development of a domestic lithium supply chain that is strategically important to U.S. electric‑vehicle manufacturers. The funding milestone is a key step toward achieving the company’s target of 40,000 metric‑tonne annual production by 2028.
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