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We provide the latest news from the world of economics and finance
(RTTNews) - QuantumScape Corp. (QS) shares are gaining more than 28 percent on Thursday morning trade after signing an agreement with Volkswagen Group's battery company PowerCo to industrialize next-generation solid-state lithium-metal battery technology.
As per the agreement, QuantumScape will grant a non-exclusive license to PowerCo, for the mass production of battery cells of up to 40 gigawatt-hours per year. There will be an option to expand to 80 GWh annually, enough to outfit approximately one million vehicles per year.
The financial aspects of the deal and royalty are not revealed.
Currently, QuantumScape is at $6.95, up 28.25 percent from the previous close of $5.41 on a volume of 55,352,827.
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