Shares of electric-vehicle (EV) battery start-up QuantumScape (QS 0.93%) were trading higher on Thursday, ahead of a technology presentation by strategic investor Volkswagen (VWAGY 0.11%) that is scheduled for next week.
As of 1:45 p.m. EST, QuantumScape's stock was up about 10.2% from Wednesday's closing price.
Like stocks of other companies in the electric-vehicle space, QuantumScape shares are probably benefiting from good news on U.S. interest rates, expectations that the Biden administration's upcoming infrastructure bill will include provisions to speed EV adoption, and the recovery of EV stocks led by Tesla following last week's sell-off.
But there may be another factor in play for QuantumScape. Volkswagen, which is a major strategic investor in QuantumScape and is in the midst of a massive transition to electric vehicles, plans to give a major presentation on Monday that looks like it will be focused on batteries. Possibly related: QuantumScape last month gave an update on its solid-state battery research, saying that it had moved one significant step closer to production.
Will VW announce something big involving QuantumScape on Monday? That possibility was almost certainly a factor in the stock's surge on Thursday.
VW hasn't said much about the event, except that it will be called "Power Day" and that it doesn't involve a new vehicle. But it's important enough that VW's CEO, Herbert Diess, has been talking it up on Twitter.
While we don't know much, I think we know enough to make this event "must-see TV" for auto investors holding QuantumScape or VW shares.