April 1 (Reuters) - Lithium Americas ( LAC ) said on Tuesday it has reached a final

investment decision (FID) for constructing the first phase of the Thacker Pass lithium mine in

Nevada.

The Thacker Pass project is a joint venture between Lithium Americas ( LAC ) and U.S. automaker

General Motors ( GM ). Phase 1 of the project is expected to be completed in late 2027.

"Together, we will develop a U.S.-produced lithium supply chain to reduce American

dependence on foreign suppliers for critical minerals," said Lithium Americas ( LAC ) CEO Jonathan

Evans.

Vancouver-based Lithium Americas ( LAC ) and General Motors ( GM ), have each contributed an additional

$192 million and $100 million, respectively, in cash to the JV, allowing it to achieve a fully

funded status for the development of the project's first phase.

Last year, the U.S. Department of Energy finalized a $2.26 billion loan for Lithium Americas ( LAC )

to build the project. The company also had access to $650 million from its JV with General

Motors ( GM ).

Once open, Thacker Pass is expected to produce 40,000 metric tons of battery-quality lithium

carbonate per year in its first phase, enough for up to 800,000 electric vehicles.