QuantumScape Corp (NYSE:QS) shares are trading higher Tuesday after the company announced it shipped its first 24-layer prototype lithium-metal battery cells to automotive OEMs for testing.
OEMs can now start the testing process at their facilities and provide feedback on the performance of the cells, which will allow QuantumScape to make improvements.
"While this milestone brings us closer to our ultimate goal, there's still a lot to do before this technology becomes a commercial product, and we now turn our attention to this important work," said Jagdeep Singh, co-founder and CEO of QuantumScape.
QuantumScape said it plans to host a virtual event in the new year to share more about its new cell format.
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QS Price Action: QuantumScape has a 52-week high of $24.97 and a 52-week low of $5.82.
The stock was up 7.52% at $6.29 Tuesday morning, according to Benzinga Pro.
Photo: courtesy of QuantumScape.
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