QuantumScape Corporation (NASDAQ:QS) shares are trading higher Thursday after the company announced a joint research agreement with Honda R&D Co. Ltd. aimed at advancing QuantumScape’s solid-state battery platform.
The Agreement
The joint research agreement includes a multi-year plan focused on solid-state battery development and associated manufacturing processes. The deal follows Honda’s successful completion of a technology evaluation agreement with QuantumScape, which included an in-depth, hands-on technical study of the company’s solid-state technology platform as well as competitive benchmarking across a range of standard technical tests.
“QS technology demonstrated compelling and unique advantages during our evaluation,” said Atsushi Ogawa, COO of Honda R&D’s Research Center of Excellence. “We see potential for QS technology to add value across a range of applications, including automotive, and we are excited to move forward into the next phase of our partnership.”
QuantumScope Shares Surge
QS Price Action: At the time of publication, QuantumScope shares are trading 6.81% higher at $7.37, according to data from Benzinga Pro.
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