Serbia’s lithium to power EU carmakers

Serbia will offer Mercedes-Benz, Volkswagen, and Stellantis the opportunity to purchase lithium for car batteries, prioritising European over Chinese manufacturers, President Aleksandar Vucic announced.

“The EU needs lithium, and we want to strengthen our ties with the EU,” Vucic told German daily Handelsblatt in an interview published Thursday.

German Chancellor Olaf Scholz is set to visit Serbia on Friday for discussions with Vucic, focusing on critical raw materials for battery supply chains and electric vehicles.

Serbia has reinstated a license for Rio Tinto to develop Europe’s largest lithium mine, potentially boosting the continent’s electric vehicle industry.

Vucic revealed that Serbia aims for an annual lithium output of 58,000 metric tons, sufficient for about 1.1 million electric vehicles, or approximately 17 per cent of the European market.

Procurement deals will require most of the lithium processing and battery production to occur within Serbia, Vucic added.

Attribution: Reuters.