Shares of Lithium Americas Corp. (LAC) surged 6.47% on Monday after the company announced two major developments that significantly boosted investor confidence.

First, Lithium Americas secured a $2.26 billion loan from the U.S. Department of Energy to fund the construction of its Thacker Pass lithium project in Nevada. This critical financing from the U.S. government highlights the strategic importance of the project in boosting domestic lithium production for electric vehicle batteries.

Second, Lithium Americas also revealed a strategic partnership with General Motors (GM) to develop the Thacker Pass project. Under the agreement, GM will become a co-owner and provide a multi-billion dollar investment to secure lithium supply for its rapidly growing EV lineup.