QuantumScape Corporation (QS)

[MiamiGent]

QuantumScape skyrockets after dazzling with Volkswagen battery test
Jan. 04, 2024 11:30 AM ETQuantumScape Corporation (QS) StockVLKAF
By: Clark Schultz, SA News Editor26 Comments

https://stockcharts.com/h-sc/ui?s=QS

QuantumScape Corporation (NYSE:QS) soared in afternoon trading after the company reached an important milestone in a test of its anodeless solid-state lithium-metal cells technology by Volkswagen (OTCPK:VLKAF).

In a test confirmed by PowerCo, QuantumScape's (QS) solid-state cell significantly exceeded the requirements in the A-sample test and successfully completed more than 1,000 charging cycles. PowerCo noted that for an electric car with a WLTP range of 500-600 kilometres, this corresponds to a total mileage of more than half a million kilometres. Notably, the cell barely aged and still had 95% of its capacity or discharge energy retention at the end of the test.

PowerCo CEO Frank Blome: "These are very encouraging results that impressively underpin the potential of the solid-state cell. The final result of this development could be a battery cell that enables long ranges, can be charged super-quickly and practically does not age. We are convinced of the solid-state cell and are continuing to work at full speed with our partner QuantumScape towards series production."

The tested solid-state cell consists of 24 layers and thus already corresponds to the planned series cell. Looking ahead, the next step on the way to series production is for QuantumScape (QS) to perfect and scale the manufacturing processes.

QuantumScape (QS) was up 28.85% at 11:25 a.m. on Thursday to $8.38. That is the highest level for the stock since early August. Short interest on QS stands at 15.6% of the total float, which could add some volatility. QuantumScape (QS) is expected to report Q4 earnings sometime during the middle part of February.