Shift: A podcast about mobility
Energy Department’s Chelsea Sexton finances transportation’s future
Mar 17, 2024
Exploring the controversial Thacker Pass project in Nevada, evolving landscape of electric vehicles, strategic loans supporting clean energy projects, importance of domestic supply chains in transportation, impact of Biden administration's bills on the industry.
37:47
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Quick takeaways
- DOE's Loans Program Office supports clean-energy economy through conditional loan awards.
- EV market evolution requires ongoing efforts to meet consumer needs and sustain growth.
Deep dives
Department of Energy's Loans Program Office and Lithium Mining Project
The Department of Energy's Loans Program Office announced a conditional loan award to Lithium Americas for a lithium mine project at Thacker Pass in Nevada. The $2.26 billion loan covers 77% of the project costs, providing a significant vote of confidence in the project. While the company still needs to raise around $700 million, the loan greatly de-risks the project, facilitating its progress. The DOE loan is crucial for the company's financial needs, adding positivity to Lithium Americas' journey with some financial hurdles still ahead.
