Why EV Battery Stock QuantumScape Fired Up Today
QuantumScape (NYSE: QS) stock surged on the last trading day of the week and rallied as much as 5.5% within the first hour of the session. As of 2:40 p.m. ET Friday, shares of the electric vehicle (EV) battery start-up were still trading 3.9% higher.
There was nothing new from QuantumScape Friday, but two other battery manufacturers bagging multibillion-euro deals from a luxury automaker put a spotlight on the company.
German luxury auto giant BMW (OTC: BAMXF) (OTC: BMWYY) revealed on Friday that it had placed multibillion-euro orders with Contemporary Amperex Technology (aka, CATL) and EVE Energy to produce cylindrical battery cells to power new EV models it expects to launch in 2025.
Source Fool.com
