Investors have been speculating on QuantumScape (NYSE: QS) stock and its ability to revolutionize electric vehicle (EV) batteries for several years now. It's been a slow road as the company works toward commercializing its solid-state battery technology.

After the company announced a major milestone, QuantumScape shares shot higher by as much as 47% Wednesday morning. At 10:07 a.m. ET, the stock remained 40.5% higher.

Image source: QuantumScape.

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Source Fool.com