Li Auto Inc. shares rise 3.63% premarket after Glencore acquires Li-Cycle, a battery recycler.

Li Auto Inc. rose 3.63% in premarket trading. The company's stock price increase may be attributed to the acquisition of Li-Cycle, a financially troubled battery recycler, by Glencore, a leading commodities company. This acquisition gives Glencore control over Li-Cycle’s facilities in Magdeburg, one of Europe’s largest battery recycling plants, and underscores Glencore’s strategic focus on developing sustainable solutions to manage the growing number of discarded electric vehicle batteries.