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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 open to releasing electric pickup if buyers ask for one

Ram hasn't announced plans to launch an electric pickup yet, but it confirmed it's keeping a close eye on the burgeoning segment in case it needs to jump in. At least half a dozen electric pickups are scheduled to enter production during the first half of the 2020s, including models from Ram's rivals and from start-ups. "The reason we haven't spoken much about electric pickup trucks is not because we view that market as non-existent. We've always had a slightly different view of timing and adoption rates, particularly in North America in terms of full electrification. We are very committed to our electrification strategy — most of which we have revealed," Mike Manley, the head of Ram parent Fiat-Chrysler Automobiles (FCA), told The Detroit News. There is not a single electric truck available new in the United States in 2020, but the segment is expected to balloon in the coming years. Tesla and start-up Rivian both introduced close-to-production concepts that remain over a year away from entering production. Ford will make an electric derivative of the 14th-generation F-150, while General Motors will send both Chevrolet and GMC marching into the segment; the latter will resurrect the Hummer name. On paper, it looks like Ram is behind. In reality, it's still too early to tell if the demand is there. What remains to be seen is whether carmakers can turn social-media likes and eye-catching headlines into profitable sales, or if the electric pickup will become the proverbial brown, turbodiesel, and stick-shifted station wagon of the 2020s — a vehicle everyone loves the idea of but that no one wants to spend a dime on. Pickups have ruled America's sales chart for decades, but electric cars remain a small niche at best; they represented a 1.6% share of the market in 2019. Ram is essentially waiting to find out if installing one of America's least popular propulsion technologies in the nation's favorite body style by a long shot will resonate with buyers. "We haven't revealed everything. But, obviously pickup trucks are a key franchise for us, and we're not going to sit on the sidelines if there is a danger that our position gets diluted going forward," Manley stressed. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Mopar teases three concepts for SEMA

Chrysler first used the Mopar name in the 1920s, someone getting the idea to combine the words "motor" and "parts" for a service with that specialty. The automaker trademarked the name in 1937, first applying it to a line of antifreeze sold in cans. This makes 2022 the 85th anniversary of the division that now covers everything from service and parts to additional performance and customer care. We already heard the house of the round red M is going to SEMA with "a different flavor" of the battery-electric Dodge Charger Daytona SRT Concept that will begin to demonstrate future EV tuning possibilities. Thanks to a trio of concept sketches, we know Mopar's 15,345-square-foot booth will house a couple of Ram concepts and a fantastical Jeep to boot. We know next to nothing about them. The Jeep can be identified as an EV thanks to its Surge name, the circuit board motif on the sketch, and the EV badge behind the front wheel. The rig in the sketch appears to have no doors, and there's some structure ahead of the cabin that looks like a spare wheel, making us wonder at first if we were looking toward the front or the back. The door shutline and curve of the fender clarify the direction. We'll find out in a couple of weeks if Jeep plans on showing off tuning options for its electric wares same as Dodge. Mopar's press release on the show started with claiming it is "Charged Up" for SEMA. We're guessing that after Jeep's electric charge, Ram's talking about a super charge, one of the concepts being what appears to be a TRX in dayglo colors. The second Ram seems less rowdy, painted in a tri-tone 1970's style with a pinstripe and all, and fitted with what looks like a topper extending below the bed rails. The outdoor and overlanding life hasn't abated any since Ram showed its Rebel OTG Concept at the 2019 SEMA Show, so this could be another entirely fanciful take on overlanding. It's also possible that after Ram filed a patent application to trademark a vehicle built similarly to the Rebel OTG, we could see a bugout truck closer to production possibility.    The Stellantis brands could bask in more attention this year, with Ford, GM, Honda, and Hyundai all having pulled out. We'll find out what Dodge, Jeep, and Ram are all charged up about when SEMA happens from November 1-4 at the Las Vegas Convention Center.