2012 Ram 2500 on 2040-cars

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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.

Ram 2500 Off-Road Pack targets Ford's FX4, Chevy's Z71

If you were a Ford or Chevrolet customer looking for a heavy duty pickup with some improved off-road chops, the process is relatively simple: tick the box for the FX4 or Z71 packages and be on your merry way. These packages are simple affairs, adding upgraded shocks, underbody protection, and unique wheels alongside a slew of cosmetic improvements. Now, Ram is getting in on the game. Making its debut at the Chicago Auto Show, a new 4x4 Off-Road Package will be offered on the 2500 model regardless of engine, bed length, or trim level. The only restriction is cab size – you'll need to order the Crew or Mega Cab in order to get the new option pack. Despite being a new package, Ram's formula is more or less the same as that used by the FX4 and Z71. Mechanical changes are limited to new Bilstein monotube shocks (Ford turns to Rancho, while the shock absorbers on Chevy's Z71 are unbranded) and a standard limited-slip differential (also offered on the Big Horn and Lone Star trims). Firestone supplies the LT tires, which look to strike a balance between off-road ability and on-road comfort, while there's the normal array of underbody protection. And like Ford and Chevy, Ram has fit a prominent decal on the rear fender. Pricing isn't finalized yet, but Ram specifically calls the 4x4 Off-Road Pack "a value-priced option." That'd make a lot of sense, considering how Ford and Chevy have priced similar equipment packs. Neither the FX4 nor the Z71 pack are high-priced options, with the former ringing up at $295 on the F-250 and the latter maxing out at $620, depending on which Silverado HD you chose. Look for the Ram 2500 4x4 Off-Road Pack to hit dealers during the third quarter of 2016. Related Video: Ram Truck Brand Announces New Ram 2500 Heavy Duty 4x4 Off-road Package New Ram 2500 4x4 Off-road Package designed for customers who need essential off-road upgrades combined with 3/4 -ton pushing, pulling and hauling capabilities Part of "America's Off-road Truck Leader" lineup Features stability control upgrades, all-terrain tires and rugged exterior appearance New package includes limited-slip differential, underbody protection and Bilstein shocks Available "RamBox Holster" rack accessory for RamBox-equipped trucks February 11, 2016 , Auburn Hills, Mich. - Ram Truck capitalizes on a core piece of the 3/4 -ton segment with new Ram 2500 4x4 Off-road Package, which includes a list of must-have upgrades for the occasional off-roader.

Stellantis not looking for further mergers, including with Renault

MILAN — Stellantis Chairman John Elkann on Monday denied the carmaker was hatching merger plans, responding to press speculation about a possible French-led tie-up with rival Renault. Elkann said that the Peugeot owner, the world's third largest carmaker by sales, was focused on the execution of its long-term business plan. "There is no plan under consideration regarding merger operations with other manufacturers," said Elkann, who also heads Exor, the Agnelli family holding company that is the largest single shareholder in Stellantis. After abandoning the Russian market, at the time its second largest after France, and reducing the scope of its global cooperation with Nissan, Renault has been seen as a potential M&A target. Speculation intensified after an electric vehicle market slowdown forced it last week to cancel IPO plans for its EV and software unit Ampere. Its market cap remains stubbornly low at little over 10 billion euros ($10.8 billion) despite a financial recovery over the past few years. Stellantis, the product of a 2021 merger between France's PSA and Fiat Chrysler and one of the most profitable groups in the industry, has a market cap of more than 85 billion euros when unlisted shares are factored in. It has a 14 brand portfolio also including Citroen, Jeep, Opel and Alfa Romeo. NEWSPAPER REPORT Italian daily Il Messaggero had said on Sunday that the French government, which is Renault's largest shareholder and also has a stake in Stellantis, was studying plans for a merger between the two groups. A spokeswoman for Renault said on Monday the group did not comment on rumors. France's Finance Ministry had declined to comment on Sunday. Stellantis has crossed swords with the Italian government, which has accused it of acting against the national interest on occasions. Industry Minister Adolfo Urso last week raised the prospect of the Italian government taking a stake in Stellantis to help to balance the French influence. Renault shares pared gains after Elkann's comments to stand 1.2% higher by 1220 GMT, having initially risen more than 4%. Stellantis CEO Carlos Tavares, a Portuguese-national, last week said in an interview with Bloomberg that the group was "ready for any kind of consolidation" and that its job was to make sure that it would be "one of the winners". Analysts, however, question the rationale of a Stellantis-Renault merger, which would also expand the group's excess capacity in Europe.