TECH - EV Battery Manufacturer QuantumScape Stock Is Soaring On Thursday - Here's Why | Benzinga
On Thursday, Volkswagen Group’s battery company PowerCo and QuantumScape Corp (NASDAQ:QS) have agreed to industrialize QuantumScape’s next-generation solid-state lithium-metal battery technology.
QuantumScape stock gained after the deal announcement.
QuantumScape will grant PowerCo the license to mass-produce battery cells based on QuantumScape’s technology platform upon satisfactory technical progress and certain royalty payments.
Under the non-exclusive license, PowerCo can manufacture up to 40 gigawatt-hours (GWh) per year using QuantumScape’s technology, with the option to expand up to 80 GWh annually.
This capacity is enough ...