EXCLUSIVE: Li-Cycle Partners with Daimler for Lithium-ion Battery Recycling for Electric Trucks
Portfolio Pulse from Anusuya Lahiri
Li-Cycle Holdings Corp (NYSE:LICY) has partnered with Daimler Truck North America (DTNA) to recycle lithium-ion batteries from DTNA's electric vehicles. This initiative is part of DTNA's strategy to integrate a circular economy approach, aiming to maximize battery lifespans and reduce material waste. Li-Cycle's CEO highlighted the importance of their recycling technologies in creating a domestic closed-loop battery supply chain. Despite this positive news, LICY shares were trading lower by 3.01% premarket.
May 30, 2024 | 10:45 am
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Li-Cycle Holdings Corp (NYSE:LICY) has partnered with Daimler Truck North America to recycle lithium-ion batteries, supporting DTNA's circular economy approach. Despite this positive development, LICY shares were trading lower by 3.01% premarket.
The partnership with Daimler Truck North America is a significant positive development for Li-Cycle, as it aligns with global sustainability trends and enhances their market position in battery recycling. However, the immediate market reaction has been negative, with shares trading lower by 3.01% premarket. This could be due to broader market conditions or other factors not mentioned in the article.
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