General Motors has delayed its second $330 million investment in lithium miner Lithium Americas until the end of this year, according to foreign media reports.Lithium Americas is seeking alternative financing options and has extended the deadline for closing the deal to December 20th. If the deal doesn't close on time, Lithium Americas may have to cede more rights to GM. GM said in a statement that Lithium Americas is making good progress in scaling up production, and that the investment will help the Thacker Pass lithium project in Nevada, which produces enough lithium to supply 1 million electric vehicles annually.

GM announced last year that it would invest $650 million in Lithium Americas in two tranches to support its lithium project. The first investment was completed last February. The successful execution of the second investment is contingent on a $2.26 billion loan agreement between Lithium Americas and the U.S. Department of Energy. GM was eager to finalize the agreement by the end of the year due to the uncertainty of the U.S. presidential election. Shares of Lithium Americas fell 6.3 percent in Toronto after the report was released.