Shares of QuantumScape Corp. (NYSE: QS) soared 14.86% on Tuesday, fueled by the company's positive business update and progress in developing next-generation solid-state lithium-metal batteries.
In its third-quarter 2024 earnings release, QuantumScape announced a significant milestone - the production and shipment of low volumes of its first B-sample cells to automotive customers for testing. These cells boast an impressive energy density of over 800 Wh/L and can be charged from 10% to 80% in less than 15 minutes, showcasing the potential of QuantumScape's advanced battery technology.
The company's CEO, Siva Sivaram, highlighted the significance of entering the B-sample phase, marking the first time a battery meets all major performance specifications demanded by consumers. This phase is crucial for transforming the electric vehicle marketplace by offering a no-compromise alternative to internal combustion vehicles.
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