Benzinga | Jun 24, 2021 09:10AM EDT

QuantumScape To Join Russell 3000 Index, Russell 1000 Index At Start Of Market June 28

QuantumScape Corporation (NYSE:QS), a leader in the development of next generation solid-state lithium-metal batteries for use in electric vehicles, today announced that it is set to join the broad-market Russell 3000 Index and Russell 1000 Index at the end of the 2021 Russell indexes annual reconstitution, effective after the U.S. markets open on June 28, 2021.

Membership in the U.S. all-cap Russell 3000 Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index, as well as the appropriate growth and value-style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.

"We have been working for over a decade to create a longer range, faster charging and safer battery that can narrow the performance gap between EVs and internal combustion engine-powered vehicles," said Jagdeep Singh, CEO and co-founder of QuantumScape. "Inclusion in the Russell indexes is a positive milestone on our journey, and we hope it will help generate broader awareness of the unique commercial opportunity represented by our solid-state lithium-metal technology and its ability to help the automotive sector transition to cleaner, electrified powertrains."

More information on the Russell 3000 Index and the Russell indexes reconstitution is available on the FTSE Russell website.