A factory worker prepares a brand new Fiat Grande Panda in the assembly hall of the Stellantis factory in Kragujevac, Serbia, Monday, July 22, 2024. (Getty Images)
KRAGUJEVAC, Serbia — Stellantis is ready to “fight” for its place in Europe’s top. electric vehicle The group is facing strong competition from Chinese carmakers, CEO Carlos Tavares said on Monday, as the group unveiled its new electric car production line in Serbia.
“We are going to be challenged and I would say brutally challenged by the Chinese offensive in the European market,” Tavares said Monday. “At Stellantis we are ready for the fight.”
“We’re going to show them that we work hard, we’re going to show them that we have the right technology, we’re going to show them that we’re a very formidable competitor,” he said.
Serbia, which aims to become a major European supplier of more sustainable agricultural materials, batteries and electric vehicles, signed a 190 million euro ($206.9 million) agreement with Stellantis in 2022 for the production of an electric vehicle at its Kragujevac car plant.
The plant is seen as a growth engine for the entire region.
“This is a huge opportunity for us. We are the only country in the Western Balkans region that electric car) production,” Serbian President Aleksandar Vucic said at a ceremony to unveil the new production line.
As part of its drive towards a more sustainable economy, Serbia has granted a license to Rio Tinto is set to develop Europe’s largest lithium mine, potentially boosting the continent’s electric car industry.
The company is targeting annual lithium production of 58,000 tonnes, enough for about 1.1 million electric vehicles, or 17% of the European market.
On Friday, Serbia signed an agreement with the European Union to give the bloc access to raw materials mined in Serbia and strengthen ties in sustainable raw materials production, battery manufacturing and electric vehicles.
The CEO of Germany Mercedes-BenzOla Kaellenius said on Friday that his company is a potential customer of lithium from Serbia and that he would like to bring a larger part of the battery value chain to Serbia.