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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.

Muhammad Ali's 1976 Alfa Romeo Spider Veloce Series II is for sale

An Alfa Romeo was never in the plans. It was by accident that Muhammad Ali ended up bringing home this beautiful silver-on-black 1976 Spider Veloce Series II, but its interesting backstory only makes it more special. It's a story the car's next owner will surely need to memorize, as the car is currently listed on eBay for a Buy It Now price of $39,900 OBO. Found by Silodrome, the car is listed by Moto Exotica out of St. Louis, Missouri. According to Moto Exotica, which sources a clip from the book "Running with the Champ" by Ali's close friend and car guy Tim Shanahan, Ali had set out with Shanahan to buy a new Rolls-Royce (Ali loved his Double-Rs) during his time living in Chicago. The two visited European Imports in Lake Forest, Illinois, with the intention of buying a Kelly Green Corniche and possibly a Mercedes-Benz SL for Ali's wife, Veronica Porche. To Ali's dismay, the dealership did not have any SLs in stock, so this Alfa was suggested as an alternative. Ali purchased the car, brought it home, and ran into yet another issue. Porche did not know how to drive the car's manual transmission, and apparently didn't have any desire to learn. So the car mostly sat, with the exception of some rare errand runs by one of Ali's assistants. After a short time passed, Ali learned that Shanahan's personal car had broken down. In a situation that perhaps suggests destiny, Ali then gifted the car to Shanahan, who has owned the car for 40-plus years up until its sale to Moto Exotica. With about 80,000 miles, it has some wear and tear, such as a small crack on the dashboard, but it's in solid overall shape and recently received a respray. Plus it comes with the real registration with Ali's signature on it. Check out the full photos, video, and descriptive listing at Moto Exotica.

Alfa Romeo's supercar is nearly sold out (but not yet approved)

Alfa Romeo's on-again, off-again supercar is taking shape. It hasn't been approved for production yet, let alone unveiled, but a recent report suggests that enthusiasts who want to add the model to their collection need to reach out to one of the firm's dealers as quickly as possible. Company boss Jean-Philippe Imparato told British magazine Autocar that several collectors have already put a deposit down on the car. There's no word yet on how many examples will be built, assuming the limited-edition model receives the proverbial green light for production, but the CEO suggested that demand will exceed supply. "It will be sold-out before I unveil the car," he told the publication. It's too early to tell what kind of supercar is in the pipeline. Allegedly called 6C, a name that seemingly confirms a six-cylinder engine, the model could feature a heritage-inspired design. "We are working on something that I could put aside the 8C in the museum of Arese, being proud of our contribution to the history of Alfa Romeo. That is what we want," Imparato clarified. He added that development work is ongoing. One of the numerous points that's up in the air is which six-cylinder the car will use. It's reasonably safe to assume that the engine will have a V configuration; Alfa Romeo doesn't have a straight-six engine in its arsenal. Although many of its sister companies do, it's not a layout that has historically been associated with the storied Italian brand while the V6 has been part of its heritage for decades. Using the 3.0-liter Nettuno V6 found in several recent additions to the Maserati range is likely more complicated than it might sound; Autoblog learned that Maserati isn't open to sharing the twin-turbocharged six-cylinder with another company, even one under the same umbrella. That leaves us with the 2.9-liter V6 that powers the Giulia Quadrifoglio, among other models, as the most likely candidate, but nothing is official at this stage. Stellantis executives will decide whether to approve the supercar in April 2023, according to Autocar. We're guessing that if deposits have already been taken and the car is nearly sold-out, there's a good chance that the model will see the light at the end of a production line. Haven't we already seen Alfa's supercar? If the idea of an Alfa Romeo supercar rings a bell, it's likely because coachbuilder Zagato unveiled a one-of-a-kind, Giulia-based model called Giulia SWB Zagato in December 2022.