QuantumScape reported another quarter with no revenue. Management is bullish on its new partnership with Volkswagen's PowerCo. It also said it was on track to complete the Raptor process.
Shares of QuantumScape dramatically underperformed the broader market for most of this year. However, news of a deal with Volkswagen released has sparked some revived investor enthusiasm.
24/7 Insights QuantumScape Corp. (NYSE: QS) trades near a 52-week low.
QuantumScape is still testing prototypes of its solid-state batteries. The company just bagged its first customer: a well-known automaker.
The expanded partnership with VW has implications for QuantumScape stock investors.
QuantumScape signed a crucial licensing agreement with key partner, Volkswagen. Volkswagen's battery company will mass-produce EV batteries on QuantumScape's technology.
QuantumScape (NYSE: QS ) stock is surging higher today after the solid-state battery (SSB) company announced that it had reached an agreement with Volkswagen's (OTCMKTS: VWAGY ) PowerCo. QuantumScape has another catalyst on the way, as it will report its second-quarter earnings on Wednesday, July 24 after the market close. Once QuantumScape accomplishes specific technological milestones, it will provide PowerCo with a non-exclusive royalty-bearing license to manufacture and sell batteries for automotive purposes using its QSE-5 technology.
A big partner just gave it a massive vote of confidence.
Shares of QuantumScape Corporation (QS) jumped in intraday trading Thursday after the electric vehicle (EV) battery producer reached a licensing deal with Volkswagen Group's battery company PowerCo.
QuantumScape just signed a new agreement with Volkswagen. Investors see the deal as a validation of QuantumScape's technology.
QuantumScape (NYSE: QS ) stock is surging higher by over 25% after the company announced that it had reached an agreement with battery company PowerCo, which is wholly owned by Volkswagen (OTCMKTS: VWAGY ). The agreement notes that PowerCo will be able to utilize QuantumScape's technology platform to mass produce batteries once QuantumScape accomplishes “technical progress and certain royalty payments.
QuantumScape Corp. said Thursday it has inked a deal with Volkswagen Group's PowerCo. aimed to mass produce electric-vehicle battery cells based on QuantumScape “solid state” battery technology.