Why Shares of QuantumScape Are Charging Higher Today

While the S&P 500 (SNPINDEX: ^GSPC) and Dow Jones Industrial Average (DJINDICES: ^DJI) are inching in opposite directions to start this shortened trading week, shares of QuantumScape (NYSE: QS) are moving decisively higher. A leading electric vehicle (EV) manufacturer has announced its plan to use solid-state batteries in their vehicles, and investors are sitting up and taking notice of the news.As of 11:33 a.m. ET, shares of QuantumScape are up 6.3%.It won't be much longer before drivers in China will be cruising around in EVs powered with solid-state batteries. Electrek, a website which covers the EV industry, reported today that BYD (OTC: BYDDY) expects to debut its first vehicles powered by all solid-state batteries in 2027. Citing Sun Huajun, chief technology officer for BYD's battery business, the company will produce a limited number of these vehicles from 2027 to 2029 and ramp up production in 2030 after the demonstration phase is complete.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool