Stellantis CEO Carlos Tavares declared the company’s readiness to “fight” for its position in Europe’s electric vehicle market amid fierce competition from Chinese automakers. Speaking on Monday at the unveiling of Stellantis’ new EV production line in Serbia, Tavares emphasized the group’s determination to prove its technological prowess and competitive edge.
Serbia, aiming to become a key European player in sustainable materials and electric vehicles, had previously inked a €190 million ($206.9 million) deal with Stellantis in 2022 to establish an EV production line at its Kragujevac plant. This facility is expected to significantly boost regional growth.
Serbian President Aleksandar Vucic highlighted the importance of this development, noting that Serbia is now the only country in the Western Balkans with electric car production capabilities.
In line with its sustainability goals, Serbia has also renewed Rio Tinto’s license to develop Europe’s largest lithium mine. This mine could potentially produce 58,000 tonnes of lithium annually, enough for around 1.1 million electric vehicles, which represents about 17% of the European market.
Additionally, Serbia has recently signed an agreement with the European Union to grant access to its raw materials and enhance cooperation on sustainable materials, battery manufacturing, and EVs. Mercedes-Benz CEO Ola Källenius indicated that his company might purchase lithium from Serbia and supports expanding the battery value chain in the country.