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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: FCA, but not Ferrari, interested in Formula E

It seems like automakers have been clamoring to get on board with Formula E lately. In just the last few weeks a number of manufacturers have either become more directly involved, or otherwise announced entry into the series in coming years. That includes Audi, BMW, Mercedes-Benz and Porsche, with the latter two abandoning other series to join the electric one. Now, FCA CEO Sergio Marchionne says his company might join Formula E as well, according to Motorsport. Previously, Marchionne had toyed with the idea of bringing Ferrari into the Formula E field, but now says that would be unlikely. Instead, he thinks an FCA brand would be a better fit, perhaps Alfa Romeo or Maserati. At the moment, Maserati seems like the best fit, as Marchionne just announced that the brand would electrify its entire lineup after 2019, with each car it sells having either a hybrid or electric powertrain. Fans would probably be excited to see Maserati return to racing, and Formula E would be a good test laboratory for the development of electric propulsion technology. Still, another brand could represent FCA in Formula E, and apply the knowledge learned there to its vehicles, as Marchionne says half of the FCA fleet will be electrified by the end of the company's five-year plan ending in 2022. Marchionne said that while Ferrari won't be directly involved, he doesn't know which FCA brand – Alfa Romeo, Dodge, Chrysler, Fiat, or Maserati – would enter. As interesting as an electric Dodge race car would be, it seems unlikely, especially because of, well, Maserati. We're hoping it's Jeep, though. Related Video: News Source: MotorsportImage Credit: ALBERTO PIZZOLI/AFP/Getty Images Green Alfa Romeo Ferrari Maserati Green Culture Electric Racing Vehicles Sergio Marchionne FCA Formula E

2024 Alfa Romeo Stelvio and Giulia add special trims, small updates

The 2024 Alfa Romeo Stelvio and Giulia aren't much different from 2023 models, but there are some notable and welcome updates to each line. They include some small styling and feature updates for every trim, a new range-topper for the standard engine, and a super special edition and a performance upgrade for the Quadrifoglio. Every new Stelvio and Giulia gets updated exterior features to match their European siblings, such as LED headlights with smoked housings and a new grille insert. Inside, the analog dials are replaced with a 12.3-inch digital display that can show a variety of information in different layouts, including one that mimics the classic double dial design. The new Alfas also are able to accept updates over the air. 2024 Alfa Romeo Giulia Competizione View 25 Photos One of the more exciting updates to these Alfas is the 100th Anniversary Edition Quadrifoglio. It's available on both the Stelvio and Giulia, and only 100 of each will be offered globally. It's not very different to a regular Quadrifoglio, though except for gold-painted brake calipers, special badging, carbon fiber mirrors and grille, Alcantara seats and gold stitching. But it does benefit from a new feature added to all Quadrifoglio models: an actual mechanical limited-slip differential. That brings us to the Competizione trim. For the normal, four-cylinder Stelvio and Giulia, this is the new top of the line. It takes the former range-topper, the Veloce, and it adds some performance and luxury upgrades. It comes with electronically adjustable suspension and a limited-slip differential, along with sport seats. The interior also gets a leather-wrapped dashboard, red contrast stitching, darker window tint and a 14-speaker Harman Kardon sound system. Buyers can get it with an exclusive matte gray paint and red brake calipers. The Giulia can be optioned with staggered wheels, and the Stelvio gets unique 21-inch wheels. The Giulia Competizione starts at $53,115 for rear-wheel drive and $55,115 for all-wheel drive. The Stelvio is all-wheel-drive only, and it starts at $57,420. They go on sale in the second quarter of this year. Related video: