Shares in Technology Minerals PLC surged 273% following its subsidiary Recyclus Group's offtake agreement with Glencore PLC for black mass, a material derived from spent lithium-ion batteries. This deal, starting with a 100-tonne trial, marks a significant milestone in the battery recycling market, supporting sustainable practices as demand for recycled materials grows amid the electrification shift. Glencore's broader strategy includes partnerships to enhance its battery recycling capabilities, reflecting the increasing competition and importance of securing critical metals from recycled sources.
Shares in Technology Minerals PLC surged 273% following its subsidiary Recyclus Group's offtake agreement with Glencore PLC for black mass, a material derived from spent lithium-ion batteries. This deal, starting with a 100-tonne trial, marks a significant milestone in the battery recycling market, supporting sustainable practices as demand for recycled materials grows amid the electrification shift. Glencore's broader strategy includes partnerships to enhance its battery recycling capabilities, reflecting the increasing competition and necessity for sustainable sourcing in the industry.
Mercedes-Benz Group shares faced downward pressure after a failed breakout, dropping 3.9% to EUR 54.35. Resistance levels include the short-term GD50 at EUR 54.85 and the October low at EUR 55.08, while support is found at the September low of EUR 54.05. Further declines could lead to a test of the year-to-date low of EUR 50.75.
Mercedes-Benz shares experienced a significant decline, falling 3.9% to EUR 54.35 after failing to break through resistance at EUR 57.23. The outlook remains uncertain, with key support at EUR 54.05 and potential further declines to EUR 51.91 and EUR 50.75 if downward momentum continues.
Tata Motors will increase passenger vehicle prices by up to 3% starting January 2025, citing rising input costs and inflation. This price hike will vary by model and variant. Other automakers, including Maruti Suzuki, Hyundai, and luxury brands like Mercedes-Benz and Audi, are also raising prices next month.
Switzerland's deposit protection scheme, officially guaranteeing up to 100,000 francs, was severely underfunded, with only 6 billion francs available. Despite multiple warnings about the risks posed by major banks, regulatory measures were weakened, leading to a crisis where Credit Suisse faced a bank run, necessitating a 250 billion franc government and SNB intervention for its takeover by UBS.
Mercedes-Benz is exploring sustainable EV battery solutions by utilizing hard carbon extracted from rice hulls, which outperforms conventional graphite anodes. This innovative approach not only enhances battery performance but also addresses waste management and carbon emissions in the supply chain. Researchers emphasize the potential of bio-based materials to revolutionize battery production while reducing environmental impacts.
EVgo and GM have successfully established 2,000 charging stalls across nearly 400 locations in North America, enhancing EV infrastructure through partnerships with Pilot/Flying J and other retailers. Despite challenges, including utility coordination, the initiative is set to expand by 850 additional stalls, contributing to a more competitive and resilient charging network.
Incoming Ohio Senator Bernie Moreno, a Republican and former luxury car dealer, criticized the $7,500 EV tax credit as "catastrophically stupid," advocating for a market-driven approach to vehicle choice. He argued that the government should not dictate corporate strategies and emphasized that consumer preferences should guide the automotive industry. As automakers scale back EV plans amid declining demand, Moreno called for a regulatory environment that allows the marketplace to thrive without government intervention.
UBS has downgraded Mercedes-Benz Group from "Buy" to "Neutral," reducing its price target from 72 to 55 euros. Analyst Patrick Hummel noted that while the company maintains an attractive dividend story, it faces ongoing pressure on car margins. BMW has emerged as UBS's new top favorite.
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