A proposed flat-rate tax on lithium produced in California's Salton Sea region will shelve the electric vehicle battery metal deliveries to General Motors Company (NYSE:GM) and Stellantis N.V. (NYSE: STLA), Reuters reports based on industry sources.
The tax may push some mining companies to exit the state entirely. The move comes as lithium supplies failed to match surging demand amid the push to phase out gasoline-powered vehicles.
