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Ústí nad Labem Region, Czechia approved delimitation of areas for deep mining of lithium at Cínovec in Ore Mountains. Decision of representatives is key for further decisions by investor Geomet (51/49 joint venture of Severočeské doly/ČEZ and European Metals Holdings/EMH) on implementation of project worth CZK 42 billion (EUR 1.7 billion), of which costs of building processing plant should be CZK 25 billion and mine itself CZK 5 billion. Project made significant progress in recent years – completion of definitive feasibility study/DFS and submission of EIA documentation to Ministry of Environment (December 2025), awarding subsidy of maximum of EUR 350 million/CZK 8.8 billion for construction of lithium processing plant in Prunéřov near Chomutov from Strategic Investments for Climate Neutral Economy programme (November 2025), receiving grant of CZK 800 million/EUR 32 million from Fair Transition Fund (April 2025), inclusion by European Commission among strategic projects under Critical Raw Materials Act/CRMA regulation (March 2025), changing location of processing plant from Dukla industrial zone near Újezdeček to Prunéřov to site of former coal-fired power plant (April 2024), EBRD invested EUR 6 million in EMH shares and currently holds 5.18% interest (July 2023), redemption of land and options in Dukla location for CZK 966 million (June 2023), EMH approved transfer of 51% stake to ČEZ by increasing Geomet's capital by EUR 29.1 million (April 2020), EMH acquired Geomet (February 2014), Geomet founded (November 2007). This to be followed by preparation of documentation for building permit. Investor expects mining to begin in 2030. Mining operation and raw material processing plant to directly create approximately 2,000 jobs, with further 2,000 jobs created in downstream supply chain. Total of 3.2 million tonnes of ore per year can be mined at Cínovec and will produce approximately 37,500 tons of battery-grade lithium carbonate for up to 1.3 million electric vehicles (EVs). Czechia has 10th largest lithium reserves in world (3-5%) and 2nd largest in Europe after Germany. Net present value (NPV) in Cínovec deep deposit was USD 1.94 billion as of January 2022. Automotive industry accounts for about 10% of Czechia’s GDP. In coming years, it will undergo inevitable transformation from internal combustion engines (ICEs) to electromobility. Czech source of lithium will help preserve jobs, automotive tradition, wide supply chain and follow-up services, added ČEZ, which is also planning gigafactory for electric car battery cells in Prunéřov

April 7, 2026 | 07:46am CETflash
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Factories
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Toyota and PSA to cut further 70 jobs in Czech plant

June 20, 2012 | 01:29am CEToriginal
Czech suppliers will use about 50 employees; TPCA offers 250 workers voluntary departure with above-standard severance pay...
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Hyundai Motor wants to increase i30 production by 20% in Czech Rep in 2012

June 18, 2012 | 06:02am CEToriginal
Growth in demand will be supported by a new generation. The current number of orders, the expected share of station wagon, the Czech premiere in Ostrava, prices...
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Skoda Auto considering manufacture of large SUV outside Czech Rep

June 15, 2012 | 03:12am CEToriginal
There are reportedly four sites taken into account, the most likely appears to be Russia. Problems with the purchase of land for the Kvasiny plant expansion...
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Hyundai Motor Group needs to increase engine production in Europe, allegedly considering investment in Hungary

June 15, 2012 | 02:59am CEToriginal
However, the carmaker denied the plan to build an engine plant in Hungary. Negotiations between Kia Motors and the Hungarian government, the production capacity of cars and engines in Europe...
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Samvardhana Motherson Group dominated Peguform

May 31, 2012 | 03:33am CEToriginal
This is another change of ownership after companies Cerberus, Polytec and Cross Industries. Renaming, share acquisition in Wethje, customers, plants in the Czech Republic (Magna, Polytec)...
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Kia Motors and AkzoNobel extended cooperation in Europe for aftermarket

May 25, 2012 | 02:58am CEToriginal
Dealers will offer Kia owners a set called Stickerfix for repairs of minor damage to the body. Product details, price...
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Fourth plant to help increase production of Grupo Antolin in Czech Rep

May 23, 2012 | 10:32pm CEToriginal
The company is gradually starting production in Liberec. Moving of production, new hall and lines, growth by 2014, existing and new contracts...
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New generation of mini-cars from PSA and Toyota to come in 2014

May 23, 2012 | 04:11am CEToriginal
Production will continue in the Czech Republic. Current state of development, greater differences between models, tax holidays, the projected increase in the A-segment...
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Hyundai to move part of i10 production to Europe

May 21, 2012 | 04:17am CEToriginal
Therefore, there will be production of all high-volume models from the i10 to ix35 in Europe. Location, the carmaker’s and suppliers’ related investments...
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Toyota expands own dealer network in Czech Rep

May 21, 2012 | 01:20am CEToriginal
A subsidiary of Toyota Tsusho continues to expand outside of Prague, when it opened its fifth Toyota showroom near the TPCA factory. Location, characteristics and history of the showroom...
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TI Automotive to build third plant in Czech Rep

May 15, 2012 | 10:47pm CEToriginal
It will be added to existing factories in Jablonec nad Nisou and Mlada Boleslav. Location, size of the manufacturing hall, products, customers...
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Neon-Lak plans to expand paint shop in Mlada Boleslav

May 7, 2012 | 01:15am CEToriginal
The reason is the increasing customer demand from the automotive industry. Details of investment, clients, car models...
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Flotila: Heads of largest companies in Czech Rep drive Volkswagen Group cars mostly

May 3, 2012 | 10:30pm CEToriginal
Audi A8 and Skoda Superb have been dominating; one of the chiefs uses CNG drive. Car Policy from Skoda Octavia to Porsche Panamera, revenues of companies in the Czech Top 100 in 2011...
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Czech plant of Donghee hit by fire

April 25, 2012 | 09:02pm CEToriginal
It is a supplier of the Czech factory of Hyundai Motor. The extent and damage, profile of the plant in Cesky Tesin…
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Sales of new cars in EU decreased by 7% in March

April 18, 2012 | 06:19pm CEToriginal
A total of 1.45 million cars represent the lowest March registrations since 1998. Development in individual countries, the market share of Czech manufacturers...
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Skoda Auto increased number of Czech suppliers in 2011, other moved to Mlada Boleslav

April 12, 2012 | 04:20am CEToriginal
The proportion of suppliers from Central Europe is almost unchanged. New purchase skills by Volkswagen, an overview of suppliers...
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Toyota and PSA’s Czech plant to increase wages by 2% as of April

April 5, 2012 | 09:18pm CEToriginal
This is a lower growth than in 2011. Details of a new collective agreement, the 2011 economic results and influences, the second model Citroen DS1, TPCA grant program in the region...
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Saturday's production at Skoda Auto to be over as of April 13, if no wage agreement is reached

April 5, 2012 | 03:28am CEToriginal
The alleged failure of production, trade union meetings to find out support, salary situation in the Volkswagen Group, the next round of collective bargaining...
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Czech plant of Hyundai Motor to increase wages by 3.3 % from April

April 3, 2012 | 12:33am CEToriginal
Attendance bonus as well as surcharges for work at nights and on weekends will be also increased. A new bonus for meeting production schedules and bonus for work in difficult conditions...
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Toyota and PSA to terminate 530 jobs in Czech plant

March 29, 2012 | 04:54am CEToriginal
TPCA is going to dismiss agency workers, some regular employees will be sent to PSA in Slovakia, the company will also reduce outsourcing and offer the remaining staff to suppliers...
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Collective bargaining at Hyundai Motor’s Czech plant aims to end

March 7, 2012 | 01:48am CEToriginal
The current development is apparently satisfactory for both parties. The company and the unions are still waiting two to three rounds...
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Megatech Industries acquired new contracts from Volkswagen Group

February 29, 2012 | 04:46am CEToriginal
The company will therefore expand production in one of the Czech factories. The location, new technology, HR, contracts for the upcoming VW and Skoda models, customers...
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Toyota and PSA to reduce production at Czech plant from May

February 20, 2012 | 03:15am CEToriginal
TPCA is going to shorten the working week and reduce the number of shifts. Planned production in 2012, collective bargaining, dismissals, the situation at suppliers...
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Katerina Jouglickova joined Euro RSCG

February 16, 2012 | 03:19am CEToriginal
After many years at importer Toyota Motor Czech she will continue in PR for the manufacturing and sales companies in the automotive industry...
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Grupo Antolin opened new plant in Slovakia

February 8, 2012 | 01:48am CEToriginal
This is the company’s second plant in the country. Location, size, investment, HR, the nature of production, customer, expected sales in 2012, more customers...
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