QuantumScape Jumps 16.5% on Honda Solid-State Battery Deal
Updated
Updated · The Motley Fool · Jun 18
QuantumScape Jumps 16.5% on Honda Solid-State Battery Deal
3 articles · Updated · The Motley Fool · Jun 18
Summary
QuantumScape closed up 16.52% at $8.04 after announcing a joint research agreement with Honda focused on solid-state battery development and manufacturing processes.
79.0 million shares changed hands — about 271% above its three-month average of 21.3 million — as investors bet the Honda tie-up strengthens QuantumScape’s path to commercial-scale production.
Honda could become a customer beyond electric cars, including power equipment and motorcycles, widening the potential market investors see for QuantumScape once its batteries are commercialized.
The rally comes as investors look toward QuantumScape’s late-July earnings window for updates on validation and commercialization, even with the stock still down 19% since its 2020 IPO.