GM has invested $50M in lithium extraction company EnergyX.
GM will now have exclusive access to a percentage of the lithium EnergyX extracts.
- EnergyX claims to have patented an innovative method of extraction that enables it to offer a highly competitive price.
- The investment was made from GM's venture arm, GM Ventures.
- EnergyX
aims to use the funding to develop at least five new plants and hire at
least 50 new employees. The plants will be located in Arkansas,
California, Utah, Argentina, Bolivia, and Chile.
- The company has previously expressed its goal of becoming publicly traded by 2024.
- EnergyX is based in Austin and has an additional office in San Juan, Puerto Rico.
