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CEZ.PR is poised to enhance the electromobility sector by extracting lithium, a crucial metal for electric vehicle batteries, in the Czech Republic. Martin Novak, the CFO, has confirmed that a definitive decision on the lithium mine will be made post-testing at year-end.

The Czech government, holding a 70% stake in CEZ, views the automotive industry’s shift to electromobility as vital for the economy. Despite a hiccup in negotiations with Volkswagen AG for a gigafactory, CEZ’s lithium mining and battery manufacturing plans remain robust and mutually beneficial.

Lithium Mining and Battery Production Synergy

Novak highlighted the significant progress in lithium project development and ongoing discussions for a battery plant, especially in Prunerov. The proximity to the lithium mine offers synergistic advantages.

CEZ’s Strategic Interest in GasNet

In addition to lithium mining, CEZ is considering acquiring GasNet. Novak suggests this could yield ‘major synergies’ with its existing electricity distribution and operations.

Company Website: https://www.cez.cz

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