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.

For its 62% ownership of Thacker Pass, Lithium Americas will contribute $387 million to the JV and act as manager of the project.

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.