Volkswagen, QuantumScape strike deal on solid-state batteries
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QuantumScape shares surges 35% after partnering with Volkswagen's battery company PowerCo
July 11, 2024 10:40 AM EDTQuantumScape (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
