Battery maker QuantumScape up on deal with auto equipment maker
21/09/2021 14:37
** Shares of lithium-metal batteries maker QuantumScape
QS.N rise 12% to $23.2 after co says it has signed an
agreement with a second top-ten (by global revenues) automotive
original equipment manufacturer (OEM)
** "OEM committed to collaborate with the company to
evaluate prototypes of the company's solid-state battery cells"
- QuantumScape
** OEM will also purchase 10 MWh of capacity from QS's
pre-pilot production line facility (QS-0) for inclusion in
pre-series vehicles
** Co says the OEM has already evaluated early cells, and
the intermediate milestones consist of more advanced prototypes
of the QS's cells, expected to be delivered before QS-0 starts
production in 2023
** QS did not respond to a comment for further details
** Shares of QS down 75.3% YTD
(Reporting by Kannaki Deka in Bengaluru)
((Kannaki.Deka@thomsonreuters.com))