Shares of electric vehicle (EV) battery start-up QuantumScape (NYSE: QS) were trading higher on Wednesday after the company said it had hit a key milestone on its development path.

As of 2 p.m. ET, QuantumScape's stock was up about 7.2% from Tuesday's closing price.

QuantumScape said in a statement that it has begun shipping a new prototype battery to its automaker customers for evaluation. The prototype battery, called Alpha-2, incorporates many of the improvements QuantumScape has made to its design and production processes over the past year. Delivering it to customers is a milestone in the company's 2024 plan.

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Source Fool.com