QuantumScape (QS -2.74%) 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.
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.
