QuantumScape (NYSE: QS) is working to develop next-generation solid-state lithium-metal batteries for electric vehicles (EVs). Its stock is jumping today thanks to some new help in boosting the EV battery manufacturing capacity in the United States.

Thanks to the news of that added support, QuantumScape shares jumped as much as 7.5% this morning. As of 11:50 a.m. ET, the stock was still trading higher by 4.3%.

QuantumScape hopes its technology will vault the EV industry to a mass consumer base. If the company can successfully commercialize its solid-state battery technology, it would lead to faster charging times with more efficient and safer batteries. That could help overcome range anxiety and boost what some see as waning demand for EVs after the early-adopter crowd has already jumped in.

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Source Fool.com