QuantumScape Stock Pops on EV Battery Deal with Volkswagen's PowerCo

QuantumScape signed a licensing deal that will allow Volkswagen's PowerCo to mass produce electric vehicle (EV) batteries using its technology. PowerCo will be allowed to produce up to 40 gigawatt-hours (GWh) annually with an option to expand up to as much as 80 GWh. QuantumScape shares soared nearly 30% in intraday trading Thursday. The deal grants PowerCo a non-exclusive license to utilize QuantumScape's technology platform in the mass production of battery cells. Volkswagen's EV battery division will be ...