VW validation affirms QuantumScape cell technology, says Baird

Baird analyst Ben Kallo notes that the battery company of Volkswagen (VWAGY), PowerCo SE, issued a press release this morning confirming that QuantumScape’s (QS) solid-state battery cells have completed the first round in a series of endurance tests with positive results. The tests carried out in a PowerCo laboratory yielded results “which we view as an affirmation of QS’s technology,” says the analyst, who keeps a Neutral rating and $5 price target on QuantumScape shares.