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FCA CEO Mike Manley will take undefined new role after PSA merger

MILAN — Fiat Chrysler Chief Executive Mike Manley will remain with the new group set to result from a planned merger with French rival PSA-Peugeot, Chairman John Elkann said on Wednesday. In a letter to Fiat Chrysler (FCA) employees on the day the two companies announced a binding agreement for a $50 billion tie-up to create the world's fourth-largest carmaker, Elkann said he was "delighted" that the combined group would be led by current PSA CEO Carlos Tavares. "And Mike Manley, who has led FCA with huge energy, commitment and success over the past year, will be there alongside him," he said. He did not say what position Manley would hold. Elkann — who will chair the new group — said there was still much to be done to complete the merger. "Over the coming months we must work tirelessly and determinedly to fulfill all the approval requirements needed to finalize the commitment we have signed," he said. Related Video:     Hirings/Firings/Layoffs Chrysler Dodge Fiat Jeep RAM Citroen Peugeot FCA PSA merger Mike Manley carlos tavares

Dodge idles Viper production again at Conner Avenue

You've got to hand it to Dodge for having the gumption to put the original Viper into production in the first place. It was, after all, much more of an emotional decision than a practical one, and a move which saw the first production V10 engine placed in a road car - long before the advent of the Lamborghini Gallardo, Audi R8, Porsche Carrera GT or Lexus LFA, not to mention the other Ford, BMW and Volkswagen Group models that used such engines.
It's now been 22 years since the first Viper entered production and the Viper still rolls on several generations later, but we're sad to say that courageous decision has not always been met with overwhelming sales success. In fact parent Chrysler was forced to idle the Conner Avenue plant where the Viper is made back in April due to slow sales. And while production resumed again as planned on June 23, it apparently didn't do the trick.
As a result, Chrysler corporate communications chief Shawn Morgan revealed to Autoblog that the assembly line has been shut down again for another two weeks. The line was up and running for nearly two full work weeks from June 23 until the holiday weekend that started on Thursday, July 3. But instead of coming back online today as planned, it's been idled again for the weeks of July 7 and 14. That means it will be July 21, at the earliest, before the serpentine supercars start slithering down the assembly line at Conner Avenue again. Once it does, however, production is set to resume at the same pace it was before the shutdown.

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.