What's Going On With QuantumScape Stock Thursday?

QuantumScape Corp QS shares are trading higher. The company on Thursday announced the advancement of its separator production process Cobra.

What Happened: QuantumScape announced that heat treatment equipment for its separator production process, Cobra, has been developed, delivered, installed and released for initial separator processing. 

With the achievement of this milestone, the company said it’s now on track to deliver higher-volume samples of its first planned commercial product, QSE-5, in 2025.

QuantumScape noted that Cobra is a major step toward the commercialization of solid-state batteries for electric vehicles. The company is targeting Cobra integration into its cell production baseline in 2025.

“Cobra is a true breakthrough in ceramics manufacturing, and it will pave the way for the scale up of our battery technology,” said Tim Holme, co-founder and chief technology officer of QuantumScape. “I’m delighted with how the team has overcome challenges and kept the process roll-out on track this year.”

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QuantumScape entered 2024 with four goals for the year including shipping Alpha-2 samples, ramping the Raptor process, beginning QSE-5 prototype production and preparing for Cobra production in 2025. With Thursday’s announcement, the company said it has now fulfilled all four of its key annual objectives.

QS Price Action: QuantumScape shares were up 4.29% at $5.10 at the time of publication Thursday, according to Benzinga Pro.

Photo: courtesy of QuantumScape.