QuantumScape (QS) shares rise as breakthrough solid-state battery development

QuantumScape shares rose 20% on Monday after the company demonstrated a solid-state lithium-metal battery-powered electric vehicles for the first time at the IAA Mobility Show in Munich. The company partnered with Volkswagen-owned PowerCo to showcase the QSE-5 battery on Ducati motorcycles, achieving an energy density of 844 Wh/L and enabling fast charging from 10% to 80% in 12 minutes. The company's shares opened at $10.06, up from last Friday's closing price of $7.84, amid the expansion of cooperation between the two parties, including a new milestone payment of $131 million in two years.