84 days ago • Posted by William Ramstein
QuantumScape surges 12% on VW joint venture
The EV startup company said it cleared a hurdle in the development of its technology. The firm is trying to pioneer solid-state lithium-metal batteries for EVs.
They said they were able to produce multilayer battery cells. Volkswagen has committed to using QuantumScape’s battery technology in its EVs via a joint venture -- if enough batteries can be produced and at competitive prices. QuantumScape estimates it will cost $1.6 billion to build that battery factory, a 50-50 venture with Volkswagen that’s supposed to start producing cells in 2024. SOurce: Yahoo