Why QuantumScape Stock Is Charging Higher Today
QuantumScape's (NYSE: QS) most important partner is out with good news about the start-up's experimental new battery, and investors are excited about the update. Shares of QuantumScape traded up 18% as of 10 a.m. ET Thursday on news its battery has passed an important endurance test.
QuantumScape is one of a number of start-ups racing to address one of the biggest challenges to electric vehicle adoption: long charging time. The company's experimental solid-state battery would be a massive improvement over existing lithium-ion technologies, offering the potential for quick charges, more range, less weight, and more stability.
Volkswagen is a QuantumScape investor and hopes to be a major customer should the battery enter production. On Wednesday, a subsidiary of the German automaker said QuantumScape's solid-state cell had passed an important endurance test.
Source Fool.com
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