Freyr Battery stock FREY is up by about 5% in premarket trades after it said it’s starting talks on Tuesday with Siemens AG XE:SIE, Nidec Corp. JP:6594, Caterpillar Inc. CAT and Glencore Plc UK:GLEN to form a coalition agreement on battery production. “Strategic arenas of commercial collaboration include battery cell manufacturing; pack and module integration; digital and software services; mining and refining; power market stationary storage applications; electric transportation; and recycling/end-of-life solutions,” Freyr Battery said. Prior to Tuesday’s move, Freyr’s stock is down 16.8%, compared to a 12.4% rise by the Nasdaq.
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