QuantumScape (QS 2.25%) stock continued to surge Wednesday morning. Shares of the solid-state battery technology company have more than doubled over the last month. The stock popped 16% this morning as QuantumScape makes more progress toward commercializing its disruptive electric vehicle (EV) battery technology.
At 10:15 a.m. ET, shares had pulled back some but remained higher by 3.2%.
Image source: QuantumScape.
Another step forward for QuantumScape
Just a week after QuantumScape announced a partnership with glass and ceramics company Corning, the EV battery cell maker said it has a new agreement with an electronics manufacturer for high-volume production of its ceramic separators. Those separators are a key component in QuantumScape's solid-state lithium-metal battery.
Both partnerships have investors excited that QuantumScape is getting closer to commercializing its product. That's helped the stock more than double over the last month.
NASDAQ: QS
Key Data Points
Today's announcement with electronics components maker Murata again gives investors confidence that solid-state batteries could be the future for EVs. QuantumScape CEO Dr. Siva Sivaram stated the following in the announcement:
We are pleased to continue our collaboration with Murata, a world-class ceramics manufacturer, as we work together to advance the high-volume production of our ceramic separators. Partnership with Murata is an important part of building a robust global ecosystem of suppliers to support the commercialization of QuantumScape's solid-state battery technology.
The ceramic separators should lead to safer, faster-charging, and more efficient EV batteries. This could ease range anxiety and spur demand. That's why investors are speculating that QuantumScape's business could soar. It remains a very risky bet that could pay off with patience and success.
