Form 4 QuantumScape Corp For: Jul 05 Filed by: Singh Jagdeep

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Go back to Form 4 QuantumScape Corp For: Jul 05 Filed by: Singh Jagdeep

QuantumScape shares surges 35% after partnering with Volkswagen's battery company PowerCo

July 11, 2024 10:40 AM EDT

QuantumScape (NYSE: QS) shares soared by as much as 35% on Thursday following the announcement of a strategic partnership with PowerCo, Volkswagen Groups battery company.

The collaboration aims to industrialize QuantumScapes next-generation solid-state lithium-metal battery technology.

Under the agreement, QuantumScape will grant PowerCo a license to mass-produce battery cells based on its innovative technology platform, contingent upon satisfactory technical progress and royalty payments.

PowerCo will have the capacity to manufacture up to 40 gigawatt-hours... More