Shares of QuantumScape Corp. QS, +29.78% rallied nearly 20% Wednesday, extending their winning streak to a sixth session and nearly doubling in the interim. QuantumScape, which went public in November through a blank-check company, on Tuesday showcased its strides in battery technology, releasing performance data on its solid-state lithium-metal battery.
Based on company tests, their battery cells showed ability “of working at very high rates of power, enabling a 15-minute charge to 80% capacity, faster than either conventional battery or alternative solid-state approaches are capable of delivering,” the company said Tuesday. The company said its data showed the battery technology as capable “of lasting hundreds of thousands of miles, and is designed to operate at a wide range of temperatures, including results that show operation at -30 degrees Celsius.”