RTTNews | Oct 29, 2021 01:01PM EDT

13:01 Friday, October 29, 2021 (RTTNews.com) - California-based Li-ion battery maker, QuantumScape Corporation (QS), is trading 13% higher in the Friday market after the company announced that it has a positive result in a third-party laboratory performance test of its next-generation EV batteries. Mobile Power Solutions, the lab that tested the batteries, said that the batteries can run for over 800 cycles at 25 degrees Celsius which translates to almost 240,000 miles for a 300-mile range vehicle. The test also showed that the battery can operate without much degeneration under high charge and discharge rates. The stock of the company is presently trading at $28.54, up $3.14 or 12.36% from its previous close at $25.40. The stock opened at $25.29. In the 52-week period, the stock has traded between $11.25 and $132.73.

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