Lithium Americas (NYSE:LAC) shares are trading higher on Thursday amid continued strength in lithium names after Tesla (NASDAQ:TSLA) recently signed a deal with Piedmont Lithium. Tesla is also reportedly planning on making Model 3s in China with lithium iron phosphate batteries.

Lithium Americas is a Canadian resource company. It operates various projects namely Cauchari-Olaroz lithium brine project in Jujuy, Argentina and Thacker Pass lithium claystone project in Nevada.

Lithium Americas shares traded up 5.62% to $12.03 on Thursday. The stock has a 52-week high of $12.93 and a 52-week low of $1.92.