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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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Original reports Autofox

Rehau expects to expand its second plant in Czech Rep

November 29, 2011 | 03:33am CEToriginal
Filling the current capacity in Jevicko, transferring orders from Moravska Trebova, an option on municipal land, the prepared mould production...
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Auto Palace opened its first Opel showroom in Czech Rep

November 29, 2011 | 03:21am CEToriginal
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Hyundai Motor to take control of import of cars to Germany

November 29, 2011 | 03:13am CEToriginal
The automaker thus continues to control the national branches in Europe. Details, similarity with the transaction of AutoBinck Holding in Central Europe...
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Toyota expanded CZK 50,000 discount on other stock RAV4 cars in Czech Rep

November 29, 2011 | 03:06am CEToriginal
The offer of 4x2 versions with Terra basic equipment has been expanded with 4x4 versions with higher equipment versions Sol and Lux. Validity of the offer, advantage in financing...
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Mitsubishi to supply Suzuki with electric cars

November 28, 2011 | 01:18am CEToriginal
After the collaboration with PSA Peugeot Citroen, this is an additional subcontract of EVs to an other carmaker. The reasons, model, dates...
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Byung-Tae Yea became new president of Kia Motor Europe

November 28, 2011 | 12:59am CEToriginal
His predecessor, Sun-Young Kim has worked in the position for almost three years. His new location...
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Michaela Blstakova to leave Scania Czech Republic

November 25, 2011 | 03:40am CEToriginal
She has worked in the Czech representation of Scania for three years. A new PR manager became...
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Rehau launched production in second site in Czech Rep

November 24, 2011 | 12:47am CEToriginal
Reasons and the amount of investment in Jevicko, redeployment of staff from Moravska Trebova and the creation of new jobs, increase in the number of lines, R&D centre for Eastern Europe...
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Fehrer Automotive further expands in Czech Rep, dominated Nectec Automotive and bought factory from Delphi

November 23, 2011 | 04:23am CEToriginal
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BMW Group to enter into other segments

November 23, 2011 | 04:13am CEToriginal
The automaker is preparing the BMW 3 Series GT/3 Series Gran Turismo, BMW X4, BMW 6 Series Gran Coupe and Mini Canyon/Countryman 3D. Details of the models and production start...
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Wojciech Tomaskiewicz to become head of PSA Peugeot Citroen for business in Czech Rep

November 23, 2011 | 12:06am CEToriginal
He will be responsible for the national representations of both brands. Yann Carnoy continues to lead Peugeot, new director of Citroen Czech Republic...
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Volkswagen to incorporate Czech national representation in Porsche Holding Salzburg

November 22, 2011 | 11:54pm CEToriginal
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PSA Peugeot Citroen to change business management

November 22, 2011 | 11:37pm CEToriginal
The carmaker has created new business units common to both brands. Directors of both brands will then be appointed in every country in Europe...
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Arval expanded opportunities and standards of trade in used cars in Czech Rep

November 22, 2011 | 04:21am CEToriginal
Innovated portal ArvalAuto.cz with e-shop features, cooperation with Dekra, trilingual version, targeting used car shops and consumers...
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Stratos Auto to enter next city in Czech Rep

November 22, 2011 | 04:06am CEToriginal
This dealer of Iveco, BMW and Fiat Professional brands in Hradec Kralove will build another showroom, which will be opened in...
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CCS intends to continue diversification of services in Czech Rep

November 22, 2011 | 03:58am CEToriginal
Following the acquisition of CarNet and launch of insurance and fleet management mediation, CCS is preparing a tool for analyzing fuel economy of company cars...
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Jeep Liberty III to be produced in U.S., apparently under its original name Cherokee

November 21, 2011 | 02:23am CEToriginal
Chrysler therefore invests USD 1.7 billion. Modernization of the Toledo factory, using Fiat platform, HR, production start, end of production of the Dodge Nitro...
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Arval took over RWE Group car fleet management in Czech Rep

November 20, 2011 | 06:16pm CEToriginal
The number of cars and categories, fleet renewal and the transition to operating leases, sale of discarded vehicles, an increase in portfolio of Arval CZ...
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SkoFIN offers free winter tires to new or used Skoda cars

November 15, 2011 | 11:40pm CEToriginal
The special offer can be used for all models (except the Citigo). Insurance from Ceska pojistovna, taking into account the no-claim bonus...
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City - Car ceased sales in one Czech city

November 15, 2011 | 04:19am CEToriginal
However, the company is still a Citroen and Volvo dealer. Details of the closure of one of the showrooms...
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Fleet of 2012: Skoda, Volkswagen and Ford dominated the poll

November 15, 2011 | 04:12am CEToriginal
New rules of voting tied to registrations, surprise at the score sheet in the form of the Dacia Duster...
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Renault to produce new Smart Forfour for Daimler

November 13, 2011 | 11:32pm CEToriginal
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Toyota Motor called on Japanese suppliers to reduce prices significantly

November 13, 2011 | 10:20pm CEToriginal
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Car prices up m/m in Czech Rep in October

November 9, 2011 | 10:19pm CEToriginal
While prices of new cars remained unchanged, used cars became more expensive. Prices of spare parts and maintenance works continued in stronger growth...
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Skoda Auto considers exporting Rapid sedan from India

November 9, 2011 | 03:10am CEToriginal
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