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The US Department of Energy is taking a 5% stake in Lithium Americas and Thacker Pass, a key lithium project in Nevada, to reduce reliance on China. The deal involves a $435 million federal loan, with GM investing heavily. This aims to support domestic EV battery supply chains and strengthen US independence in critical minerals.
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As of early October 2025, the US Department of Energy has acquired a 5% equity stake in Lithium Americas and its Thacker Pass lithium mining project, a joint venture with General Motors. This move aims to reduce US reliance on China for lithium, a critical mineral for electric vehicle batteries. The project is expected to produce enough lithium carbonate annually to power 800,000 EVs, with commercial operations targeted for 2026-2028.
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As of October 2025, OpenAI's valuation surged to $500 billion following a $6.6 billion secondary share sale by current and former employees to investors including SoftBank, Thrive Capital, and MGX. Despite not yet turning a profit, OpenAI has secured massive AI infrastructure deals with Oracle, Nvidia, and AMD, fueling rapid growth and complex partnerships across Silicon Valley's AI ecosystem.
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Tesla reported a record 497,099 vehicle deliveries in Q3 2025, a 7.4% increase year-over-year and a 29% jump from Q2, driven by a rush to claim the expiring $7,500 US federal EV tax credit. Rivian also saw quarterly delivery growth but lowered its 2025 forecast. Tesla's European sales fell 22.5%, while China deliveries included a new Model Y variant. Munro EV in Scotland plans to create 300 jobs to scale production of its all-terrain electric vehicle.
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President Trump has approved the long-delayed Ambler Road project in Alaska, reversing the Biden administration's rejection. The project aims to unlock critical minerals like copper and cobalt, vital for energy and defense, with the US taking a 10% stake in Trilogy Metals. The decision emphasizes domestic resource development amid global supply concerns.