QuantumScape Corporation (NYSE:QS) soared to a new 52-week high, up by 11.33% to $15.92 on Friday. This surge was driven by increased investment in battery companies following US government efforts to boost the domestic lithium industry. The US government also plans to acquire 5% stakes in Lithium Americas and its Thacker Pass mine to enhance lithium supply and reduce reliance on imports. These moves could benefit QuantumScape due to its reliance on lithium for EV batteries. Additionally, QuantumScape announced a partnership with Corning Inc. to develop ceramic separator manufacturing capabilities for QS solid-state batteries, aiming to increase production for commercial use.

Read more at Yahoo Finance: QuantumScape (QS) Hits All-Time High on Govt Support to Lithium Sector