Pavel, can you blame GM?  They just stipulated that the DOE loan has to be a done deal before GM will deliver the 2nd tranche.  So, the key here is the DOE loan finalization.  It is interesting that GM extended the time line to December of this year.  That might have something to do with the fact that the 2024 election for President and a new administration either way (Trump or Harris, it still will be new vs Biden).

 As such, the Company has agreed to forbear making a unilateral election to close the second tranche investment until December 20, 2024, to provide time for such discussions to take place. GM’s investment is subject to the conditions precedent set forth in the second tranche subscription agreement, includingthe execution of the loan agreement for the $2.26 billion loan from the U.S. Department of Energy.

Certainly one of the considerations for GM must be whether or not they are dealing with a "Lame Duck" DOE or whether the existing DOE will be part of the future starting in 2025.

That "FOG" won't lift until 6 November 2024.

Onward through the FOG!

Okiedo