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Stellantis invests more than $100 million in California lithium project

Stellantis said it would invest more than $100 million in California's Controlled Thermal Resources, its latest bet on the direct lithium extraction (DLE) sector amid the global hunt for new sources of the electric vehicle battery metal. The investment by the Chrysler and Jeep parent announced on Thursday comes as the green energy transition and U.S. Inflation Reduction Act have fueled concerns that supplies of lithium and other materials may fall short of strong demand forecasts. DLE technologies vary, but each aims to mechanically filter lithium from salty brine deposits and thus avoid the need for open pit mines or large evaporation ponds, the two most common but environmentally challenging ways to extract the battery metal. Stellantis, which has said half of its fleet will be electric by 2030, also agreed to nearly triple the amount of lithium it will buy from Controlled Thermal, boosting a previous order to 65,000 metric tons annually for at least 10 years, starting in 2027. "This is a significant investment and goes a long way toward developing this key project," Controlled Thermal CEO Rod Colwell said in an interview. The company plans to spend more than $1 billion to separate lithium from superhot geothermal brines extracted from beneath California's Salton Sea after flashing steam off those brines to spin turbines that will produce electricity starting next year. That renewable power is expected to cut the amount of carbon emitted during lithium production. Rival Berkshire Hathaway has struggled to produce lithium from the same area given large concentrations of silica in the brine that can form glass when cooled, clogging pipes. Colwell said a $65 million facility recently installed by Controlled Thermal can remove that silica and other unwanted metals. DLE equipment licensed from Koch Industries would then remove the lithium. "We're very happy with the equipment," he said. "We're going to deliver. There's just no doubt about it." Stellantis CEO Carlos Tavares called the Controlled Thermal partnership "an important step in our care for our customers and our planet as we work to provide clean, safe and affordable mobility." Both companies declined to provide the specific investment amount. Controlled Thermal aims to obtain final permits by October and start construction of a commercial lithium plant soon thereafter, Colwell said. Goldman Sachs is leading the search for additional debt and equity financing, he added.

Marchionne offers belated apology for 'wop engine' comment

Automotive News reports Fiat-Chrysler CEO Sergio Marchionne has issued a written apology for his comments regarding his decision to stick with an Italian engine for the upcoming Alfa Romeo 4C. As you may recall, back in January, Marchionne was quoted as saying, "I cannot come up with a schlock product, I just won't. I won't put an American engine into that car. With all due respect to my American friends, it has to be a wop engine." The CEO penned an apology to the Italian American ONE VOICE Coalition for using the racial epithet, saying that he made the comment in jest. Marchionne also said he realizes his remarks were unacceptable.
ONE VOICE, an organization aimed at fighting discrimination and stereotyping of Italian Americans, thanked Marchionne, Chrysler and Fiat for the apology. Marchionne is an Italian-born Canadian citizen, and he's gotten in trouble for other comments in the past. In 2011, he called high interest rates Chrysler was paying to the Canadian government "shyster rates." He apologized a day later.

Alfa Romeo Stelvio caught testing under the cloak of darkness

With Americans still going crazy over compact SUVs and crossovers, the upcoming Alfa Romeo Stelvio is the Italian automaker's latest attempt at regaining its status as a household name in the US. Photographers managed to capture a prototype testing at night with very little camouflage to hide the SUV's overall design. These photos are the clearest ones we've seen of the upcoming SUV. The prototype's front end is extremely similar to the Giulia's with two oval-shaped outlets on the side of the fascia with a v-shaped grille in the center. The headlights, which are surrounded by black tape, also mimic the units found on the Giulia. The ruffles in the camouflage on the hood suggest that the Stelvio gets a pair of vents. The profile of the crossover is much more round than previous prototypes depicted with the overall shape mimicking the Jaguar F-Pace, but much smaller in size. The taillights, surprise, surprise, also resemble the same ones found on the Giulia. There's no way to know what type of engine is powering the Stelvio prototype, but the two tailpipes and skinny tires point toward something much more subdued than the twin-turbo 2.9-liter V6 that puts out 505 horsepower in the Giulia Quadrifoglio. We expect the production version of the crossover to get the same gasoline and diesel options as the Giulia, depending on where the vehicle is sold. The Stelvio – and this shouldn't come as a surprise to anyone – looks like a larger, taller Giulia. While the prototype looks ghastly with its camouflage, we expect, and hope, that the SUV will look a lot better at its debut, which could take place at next month's Los Angeles Motor Show. Related Video: Featured Gallery Alfa Romeo Stelvio Spy Photos Image Credit: KGP Photography Design/Style Spy Photos Alfa Romeo Crossover SUV alfa romeo stelvio