Why QuantumScape Stock Rocketed Higher Today
Electric-vehicle (EV) battery technology company QuantumScape (NYSE: QS) gave investors a reason to cheer with its third-quarter report last night, and its shares are surging as a result. The stock popped nearly 36% in early morning trading. As of 11:38 a.m. ET, it was still up by 21.6%.
The company announced it has achieved an important milestone in its work to develop commercially viable solid-state batteries for EV makers. It has shipped samples planned for its first commercial product to automakers and other original equipment manufacturers (OEMs) for testing. That was one of QuantumScape's major goals for 2024.
QuantumScape has a two-stage plan to mass produce the parts required for its solid-state EV battery. The first stage "Raptor" process has been used to produce low-volume prototypes.
Source Fool.com
