German Chancellor Olaf Scholz visited Serbia to engage in discussions regarding a potential agreement with the Balkan country for the excavation of lithium. This mega project aims to decrease Europe's reliance on China for lithium supply, a critical component in the production of batteries for electric vehicles.
Germany, being the largest car manufacturer in Europe, is keen on securing a local source of lithium to support its electric vehicle industry. The European Union is striving to reduce its dependency on lithium imports from China, which currently dominates the lithium-ion battery supply chain.
