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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.

The Dodge Demon isn't the only way to a 10-second quarter mile

The Demon's rear tires smoke, the front tires lift – and in under ten seconds (after having spent $85,000) you've covered a quarter mile. In short, we fully get the attention shown Dodge's SRT Demonstrator. With disruption the operative word of the times, it's good to see a representative of the movement coming from Detroit. The SRT Demon delivers disruption in spades. There is, however, a viable alternative – and it doesn't require getting on the list at your Dodge dealer. If you want to do 0-60 in under three seconds or the quarter mile in around 10, the folks at Honda, Kawasaki, Suzuki and Yamaha – with any of their one-liter superbikes – have you covered. The gestation of what we now know as the superbike came roughly a decade after the debut of the muscle car. It was in the early '70s, as emission and safety regulations – along with rising insurance premiums – decimated the ranks of Detroit's fastest that motorcycle makers found their magical, almost mystical momentum. Honda's CB750 four was arguably the first, followed soon by Kawasaki's Mach III and Z-1. After that, it was Katie-bar-the-door, with more horsepower offered by Japanese OEMs until, invariably, insurance premiums went higher and, during the last recession, 20-somethings couldn't get affordable loans or insurance. Today, Japan's Big Four are once again engaged in a horsepower war, fueled by the rising interest in MotoGP, along with the rising profits available when selling a $20,000 motorcycle. And if that $20,000 - $10K per wheel – seems high, simple math tells you it's less than half of what you'll spend per corner if buying Dodge's Demon. The specs tell the tale. The Demon, fattened by both its flared fenders and a platform dating from the George Bush administration, supports its 4,200+ pounds on a wheelbase of 116 inches. That's in contrast to Suzuki's GSX-R1000 – redesigned for 2017 – which puts its 443 pounds atop a wheelbase of just 56 inches. To maximize its Hemi-supplied 800+ horsepower, Dodge diverts the air conditioning from the Demon's interior to the engine, which makes racing on a summer evening (you guessed it) devilishly hot. On Suzuki's GSX-R1000 – or similarly-equipped superbikes – almost all of the air at 100+ miles per hour is directed at you. To further underscore the differences, know that the GSX-R1000 and its like-minded competition can turn a quick corner, while the Demon is hard-pressed to execute a U-turn at the end of a quarter-mile straightaway.

Hennessey's Dodge Challenger Hellcat cranks out 1,032 hp

Enthusiasts know the Dodge Challenger Hellcat produces 707 horsepower. It's one of the modern muscle-car era's iconic numbers. But for some, that's not enough. Enter Hennessey Performance. The Texas tuners loaded the Hellcat with a twin-turbocharger that works with Dodge's supercharger to boost output to 1,032 hp and 987 pound-feet of torque. Yes, that's an engine dyno rating, not at the rear wheels, but still! It's a little more complicated than a bolt-on booster. Called the HPE1000, the turbo kit has stainless steel headers and down pipes, billet aluminum compressor wheels, and a high-flow air system. There's also an an improved fuel pump, and the engine and chassis are specially calibrated. You also get numbered plaques signed by John Hennessey himself and the engine tech who builds your mill. All of this helps get your Hellcat to 60 miles per hour in 2.7 seconds, and it can do the quarter mile in 9.9 seconds at 142 mph. The Hellcat and it's 6.2-liter blown Hemi V8 are not for the faint of heart. Hennessey makes this Dodge downright demonic. Related Video: Related Gallery 2015 Dodge Challenger SRT Hellcat View 23 Photos Image Credit: Hennessey Performance Dodge Coupe Performance