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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.

2018 Dodge Challenger SRT Demon First Drive | Don’t fear the Demon

"If you're not hurt, we'll be really pissed. If you are hurt, we'll still be pissed, but not quite as pissed." These are the words from Jim Wilder, the vehicle development manager of the 2018 Dodge Challenger SRT Demon, that echo through our head as we slide behind the wheel of the car for the first time. He was warning us about driving beyond our abilities, and keeping the car out of the wall. With 840 horsepower and 770 pound-feet of torque on tap from its supercharged, 6.7-liter V8, the Demon does 0-60 miles per hour in 2.3 seconds, and 0-30 mph in a second flat. If something does go wrong, it'll happen quickly. Following that talk, we had our guts sloshed as a passenger in a blurry eighth-mile run, giving us a taste of the G forces (the Demon can pull 1.8 G in a straight line) we'd feel when we got in the driver's seat for our own pass down the drag strip. We're already sweating. It had rained - you could describe it as torrential - the day before. The grassy parking areas surrounding Lucas Oil Raceway were still flooded, but any water on the pavement had evaporated and hung in the air. Combined with the heat, we were sticky and uncomfortable. In Drag Mode, the Dodge Demon's air conditioning turns off. Any condensation that it could leave on the track would be a problem, plus we need to reduce parasitic power losses for a faster run. The system is still working, though, the refrigerant diverted to the chiller system cooling the air coming into the engine. There's still condensation, but the Demon collects it on a catch pad to keep it from ending up on the pavement. We're also required to roll the windows up when entering the drag strip. For one thing, it helps keep the smoke out of the cabin during the pre-staging burnout. So, yeah, it's hot as Hell in the Demon. We pull through the water box and run through the sequence – which involves holding the "OK" button on the steering wheel usually used to navigate menus, and applying a specific amount of brake pressure before getting on the throttle to initiate the burnout. This gets any crud off the rear tires and heats up the rubber. There are multiple ways to launch the Demon. We had an instructor sitting in the passenger seat as we pulled up to the beams that trigger the Christmas tree at Lucas Oil Raceway. He walks us through the most complicated of the three he had explained to us just minutes before when we were in the passenger seat.

Junkyard Gem: 1991 Dodge Monaco LE

When Chrysler took over the American Motors Corporation in 1987, the hot-selling Jeep brand was the big prize of that deal. At a stroke, Iacocca's company got the XJ Cherokee (which remained in production into our current century) plus its Comanche pickup sibling, the Wrangler, the Grand Wagoneer, and the AMC Eagle as bonuses. The Eagle gave its name to Chrysler's new marque, which worked out well for quite a few years, and of course the PowerTech V8 engine began life as an AMC design. Yes, Chrysler made out like a bandit on the AMC purchase, but one of the most important acquisitions that came with that coup ended up being a Renault design from the last gasp of Kenosha: the Eagle Premier. Genetic material from this car made its way into Chrysler products for decades to come, and the Dodge Division got the opportunity to slap Monaco badges on the Premier for the 1990 through 1992 model years. Here's one of those super-rare cars in a Denver self-service yard. Dodge sold plenty of Detroit-designed Monacos from the 1965 through 1978 model years, and so the name seemed ripe for a revival in 1990. We rated the 1974 Dodge Monaco "Bluesmobile" #3 on the Best Movie Cars of All Time list, and Monacos may be found in countless cop movies and TV shows over the decades. Did the name belong on a Renault design? Absolutely! The radical-looking and big-selling Chrysler LH cars were built on a modified Eagle Premier chassis, enabling Chrysler to print money from a 1980s Renault design all the way through 2004. After that, Mercedes-Benz engineering (with a dash of Mitsubishi thrown in for good measure) got stirred into the mix, but I'm told by a Chrysler engineer that you can still see the Renault 25 structure beneath the dashboard in modern Challengers and Chargers. All of this comes thanks to Lee Iacocca's score of that advanced European car way back in 1987. One thing from the Premier that Chrysler dropped like a monkey dropping a red-hot penny once production of the Premier/Monaco ended: the PRV V6, a sophisticated-but-flaky overhead-cam V6 originally developed by a partnership between Peugeot, Renault, and Volvo (hence the acronym). This engine achieved its greatest fame as the powerplant that went into the DeLorean DMC-12. You could get the chugging AMC 2.5-liter straight-four in the Eagle Premier, but all the 1990-1992 Monacos got the 3.0-liter PRV, rated at 150 horsepower.