2006 Dodge Durango Slt on 2040-cars

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Stellantis reports surprising 2020 results, is 'off to a flying start'

MILAN — Low global car inventories and cost cuts should boost Stellantis's profit margins this year, though a shortage of semiconductors and investments in electric vehicles could weigh on results, the newly-formed automaker said on Wednesday. The forecast came as Stellantis, created by the January merger of Peugeot-maker PSA and Fiat Chrysler (FCA), reported better-than-expected results for 2020 that sent its shares up around 3% in morning trading. "Stellantis gets off to a flying start and is fully focused on achieving the full promised synergies (from the merger)," Chief Executive Carlos Tavares said in a statement. Stellantis is the world's fourth largest carmaker, with 14 brands including Fiat, Peugeot, Opel, Jeep, Ram and Maserati. It said 2021 results should be helped by three new high-margin Jeep vehicles in North America and a strong pricing environment there. The U.S. market has driven profits for years at FCA and starts off as the strongest part of Stellantis. The group's guidance assumes no more significant lockdowns caused by the global COVID-19 pandemic, which shuttered auto plants around the world last spring. Stellantis should also get a lift as its starts to implement a plan aimed at delivering over 5 billion euros a year in savings, without closing any plants. Tavares has also pledged not to cut jobs. But a pandemic-related global shortage of semiconductors, used for everything from maximizing engine fuel economy to driver-assistance features, could hurt business. Auto industry executives have said the shortage should ease by the second half of 2021. Stellantis said its "electrification offensive" could also weigh on results this year. Automakers are racing to develop electric vehicles to meet tighter CO2 emissions targets in Europe and this week Volvo joined a growing number of carmakers aiming for a fully-electric line-up by 2030. Stellantis plans to have fully-electric or hybrid versions of all of its vehicles available in Europe by 2025, broadly in line with plans at top rivals such as Volkswagen and Renault-Nissan, although Stellantis has further to go to meet that goal. The carmaker is targeting an adjusted operating profit margin of 5.5%-7.5% this year. That compares with a 5.3% aggregated margin last year: 4.3% at FCA and 7.1% at PSA excluding a controlling stake in parts maker Faurecia, which is set to be spun-off from Stellantis shortly.

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.

2020 Dodge Durango SRT Drivers' Notes | When excess is a good thing

Performance SUVs and crossovers from non-luxury brands are still in a nascent stage of development. Models like the Porsche Cayenne Turbo, BMW X5 M and others are on subsequent generations of their high-performance high-riding machines. Meanwhile, the 2019 Dodge Durango SRT is still refreshingly new. It’s also about as American as it gets. Dodge shoehorned in the 6.4-liter V8 and gave it an exhaust system that screams ‘Murica at anyone who strays too close. It makes a glorious 475 horsepower and 470 pound-feet of torque, completing the sprint to 60 mph in 4.4 seconds. An eight-speed automatic transmission sends power to all four wheels, which means you have traction — something the Challengers and Chargers with this engine could use a bit more of. Despite the Dodge being far cheaper than other big, high performance luxury SUVs out there, it still isnÂ’t cheap. The SRT has a base price of $64,490. Ours stickers for a much higher $78,235. Unsurprisingly, Dodge makes you pay the big bucks for most of the luxury features and customization options. A $2,395 Technology Group adds adaptive cruise control, lane departure warning and forward collision avoidance systems. Fancy interior materials like a suede headliner, nicer materials on the instrument panel and carbon fiber inserts can be had in a $2,495 package. The stripes are $1,295, and the 20-inch wheels cost $995. To get the second row console with an armrest and storage, youÂ’ll have to pay an extra $595. A $78,235 Durango might sound like a completely egregious amount of money, but itÂ’s still far below what youÂ’ll pay for a BMW X7 or Mercedes-Benz GLS that goes just as fast. ItÂ’s no muscle SUV for the people, but it is a muscle SUV for more people than could afford one previously. Assistant Editor Zac Palmer: An American SUV with a giant V8 feels like a superior descendant of muscle cars than most other “muscle cars” on sale today. Both the Mustang and Camaro slant toward the sports car side of things, leaving FCA to carry on the muscle car tradition. And man, Dodge carries it on well. FCA could slot its 6.4-liter V8 into nearly anything and IÂ’d love it, so it was no surprise that I enjoyed it thrashing it about in this behemoth of an SUV. Traction off the line was one major benefit in the Durango over the Charger and Challenger. Matt the throttle and it just leaps forward, similar to the Jeep Grand Cherokee SRT.