Kensington Capital Accquisition Corp. (NYSE: KCAC) and QuantumScape Corporation have disclosed that they have ended the business alliance process. The stockholders of Kensington Capital have agreed on this alliance. The business alliance will offer a net profit of $680 million to QuantumScape.
The firm will use the profit to start its production in the second half of 2024. QuantumScape also anticipated advancing the making and commercialization of OEM-validated technology. Kensington also aimed to speed up its business plan implementation. As of November 27, 2020, the shares of QuantumScape will be traded on the NYSE under the symbol “QS”. QuantumScape warrant will be traded on the NYSE under the ticker symbol “QS.W”.