General Motors Holdings has agreed to form a joint venture with Lithium Americas for developing the latter’s Thacker Pass lithium project in Humboldt County, Nevada.

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.