QuantumScape Corp. (QS) experienced a pre-market soar of 5.69% on Thursday, as the company announced a significant milestone in the development of its next-generation solid-state lithium-metal battery technology.
The surge comes after QuantumScape revealed that it has successfully developed, delivered, installed, and released for initial processing the "Cobra" – a next-generation heat treatment equipment for its separator production process. This achievement puts the company on track to deliver higher-volume samples of its first planned commercial product, QSE-5, in 2025, and represents a major step towards the commercialization of solid-state batteries for electric vehicles.
According to QuantumScape, the Cobra represents a significant innovation in ceramic solid-state separator production, benefiting both scalability and cost efficiency. The company's CEO, Dr. Siva Sivaram, expressed confidence in the team's ability to continue building momentum towards the gigawatt-hour scale-up of its technology, stating, "With our track record of consistent execution and delivery on our milestones, I fully expect the team to continue building momentum toward gigawatt-hour scale up of our technology."
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