Why QuantumScape Stock Is Charging Higher Today
Shares of QuantumScape (NYSE: QS) were moving higher on Tuesday. Shares of the company, which is developing an innovative solid-state battery for electric vehicles, got a boost after a major automotive trade association urged lawmakers and the incoming Biden administration to back a sweeping series of measures to support electric-vehicle adoption.
As of 1 p.m. EST, QuantumScape's shares were up about 10.8% from Monday's closing price.
The Alliance for Automotive Innovation, a trade group representing nearly all of the major automakers, released a report on Tuesday that outlines a series of steps to boost the electric-vehicle market in the United States and to revamp regulatory oversight of autonomous vehicles.
Source Fool.com
