Key Takeaways Lithium Americas and General Motors have formed a joint venture to extract lithium from the Thacker Pass site in Nevada.GM will provide $625 million in cash and credit and own a 38% stake in the project.

General Motors (GM) will acquire a 38% stake in Thacker Pass for a total of $625m, with $430m in cash to aid Phase 1 construction.

Canada’s Lithium Americas said General Motors will boost investment in the miner’s Thacker Pass project, which produces the critical ingredient for electric-vehicle batteries.