The deal is centered on the development, construction and operation of a lithium carbonite mining operation called Thacker Pass in Humboldt County, Nevada.

GM Ventures is making a $10 million investment in Colorado-based Forge Nano to develop battery coating materials that can enhance performance and cut costs.

GM is aiming to source more of its raw materials for electric vehicles from the U.S, to manage battery cell costs and decrease its reliance on imported materials.

GM Ventures has invested $10 million in materials science company Forge Nano, which makes Atomic Armor, an innovative EV battery technology.

The automaker has invested in and partnered with companies along the EV battery supply chain, from raw materials to recycling, as it works to secure a supply chain for its electric vehicles.