QuantumScape (NYSE: QS) stock rose recently on the rumors of a potential partnership with Porsche. Even before the news, the stock has been on an upward trend since the middle of March. Let's check out what the solid-state battery company has been up to lately and what its progress means for its stock.
QuantumScape, so far, has collaborations with four key customers -- three automotive and one stationary energy-storage product manufacturer. Apart from Volkswagen (OTC: VWAGY) , QuantumScape is collaborating with two other auto original equipment manufacturers (OEMs). One of these is a top 10 global auto manufacturer by revenue, and the other is a luxury auto company. QuantumScape hasn't disclosed the names of these two auto companies. The luxury auto company could possibly be Porsche . After testing and validating QuantumScape's cells, these companies intend to use them in their vehicles.
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For further details see:
Where Will QuantumScape Be in 3 Years?