Shares of QuantumScape Corp. (QS) are jumping in premarket trading Wednesday after the electric vehicle (EV) battery developer said it had reached a breakthrough in its next-generation solid-state lithium-metal battery technology.
The San Jose, Calif.-based company said it had managed to successfully integrate its “advanced Cobra separator process into baseline cell production.”
“Our team has made impressive strides in advancing Cobra, a technology that exemplifies our progress in scaling solid-state battery production,” QuantumScape CEO Dr. Siva Sivaram said. “By significantly improving throughput and shrinking the equipment footprint, Cobra gives us a powerful path forward for commercializing our next-generation battery technology.”
QuantumScape shares, which entered Wednesday down almost 17% this year, are soaring 37% less than 90 minutes before the opening bell.
