QuantumScape (QS) snags deal with Volkswagen (VWAGY)

QuantumScape (QS) and Volkswagen (VWAGY) revealed they entered into a deal to start producing next-gen battery cells for an anticipated flood of electric vehicles.

The unnamed OEM will assess more advanced prototypes of QuantumScape’s solid-state battery cells. And it will buy 10 megawatt-hours of capacity from QS’s pre-pilot plant to use in “pre-series” vehicles.

QuantumScape expects to deliver the advanced prototypes before the pre-pilot facility, known as QS-0, starts production in 2023.

Shares of QuantumScape soared 13% to 23.53 in Tuesday’s stock market trading. QuantumScape stock retook its 50-day line for the first time since July 1.


Sign up for the New Frontier Report

Get regularly updated reports detailing stocks recommendations and new economic shifting industries and technologies.

We don’t spam! Read our privacy policy for more info.

Read up on