00:00Stellantis is ready to fight for its place in Europe's electric vehicle market against
00:05strong competition from Chinese automakers, says its CEO, Carlos Tavares.
00:10CARLOS TAVARES, CEO, Stellantis Automotive Groups, Europe, United Kingdom, United Kingdom
00:11All the European countries are inviting the Chinese manufacturers to come to Europe. This
00:16is the fact. We are going to demonstrate to them that we have the right technology. We
00:21are going to demonstrate to them that we are a very fierce competitor.
00:27Tavares made the comments as the group showed off its new EV production line in Serbia.
00:32We at Stellantis, we are ready for the fight.
00:36Serbia is pushing to become a key European supplier of sustainable raw materials, batteries
00:41and electric vehicles. It signed a $206 million deal with Stellantis in 2022 for the production
00:48of an electric vehicle at its Kragujevac manufacturing plant, which is seen as a generator
00:52of growth for the entire region.
00:55Serbian President Aleksandar Vucic said the plant could raise the country's GDP by half
01:02a percent next year alone. And the country has reinstated a license for mining company
01:07Rio Tinto to develop Europe's biggest lithium mine, a potential boost to the continent's
01:12EV industry.
01:15Serbia is eyeing an annual lithium output equal to about 17 percent of the European
01:19market, enough for about 1.1 million electric vehicles.
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