Stellantis is "ready for the fight" for its place in Europe's electric vehicle market against strong competition from Chinese carmakers, its CEO Carlos Tavares said on Monday (July 22), as the group presented its new EV production line in Serbia. - REUTERS
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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.