Lithium Americas (LAC) Forecasts $1.3B to $1.6B 2026 Capex as Thacker Pass Peak Nears

Lithium Americas Corp. (NYSE:LAC) is one of the hot EV stocks to buy now. On February 12, Lithium Americas Corp. reported progress on its Thacker Pass lithium project in Nevada throughout 2025, marking a pivotal year for development. Construction remains on schedule, with Phase 1 engineering design now 93% complete and procurement at 60%. As of late 2025, ~950 personnel were on-site, a figure the company expects to grow to 1,800 workers during the 2026 peak construction phase. The company maintained a strong safety record, completing over 1.6 million workhours in 2025 without a lost-time incident.

For 2026, Lithium Americas issued capital expenditure guidance between $1.3 billion and $1.6 billion to support continued development. This investment covers construction costs, capitalized development expenses, and interest on its Department of Energy loan. The company is actively monitoring potential tariff exposure on international construction materials, but notes that ~75% of total project costs (primarily labor and services) are insulated from direct tariff impacts. Meanwhile, the Operations and Business Readiness team continues to ramp up hiring and training in anticipation of site commissioning.

Looking ahead, Lithium Americas Corp. (NYSE:LAC) remains on track for mechanical completion of the Phase 1 processing plant in late 2027, followed by a production ramp-up in 2028. Key development milestones for 2026 include the delivery of major long-lead equipment, the continuation of cable pulls, and the energizing of regional substations. Early commissioning of individual plant facilities is scheduled for Q4 2026. These efforts are part of a broader strategy to establish a secure, domestic lithium supply chain as global market conditions continue to strengthen.

Lithium Americas Corp. (NYSE:LAC) develops, builds, and operates lithium deposits and chemical processing facilities in the US and Canada.

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