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Dive Brief:
General Motors is investing $625 million in Thacker Pass mine in Humboldt County, Nevada, as it looks to control more of its electric vehicle and battery end-to-end supply chain, the company announced on Wednesday.
As part of the investment deal, GM will form a joint venture with critical mineral company Lithium Americas to fund, develop, construct and operate the mine.
The deal replaces a January 2023 agreement between the two companies. GM already invested $320 million in the mine in the first of what would have been two tranches of the original $650 million agreement.