12:11 PM EDT, 03/27/2024 (MT Newswires) -- (Updates with share price movement in the headline and first paragraph.)

QuantumScape ( QS ) shares were up nearly 8% in recent trading Wednesday following an announcement earlier in the day that it started shipments of Alpha-2 prototype battery cells to automotive customers, meeting a 2024 milestone.

The company said it will continue to build and ship Alpha-2 prototypes over the coming months.

"Key goals for 2024 include ramping up the Raptor production process, beginning low-volume QSE-5 prototype production and preparing for high-volume production of its solid-state electrolyte-separator using the Cobra equipment and process, which is set to begin in 2025," the company said.

Price: 6.20, Change: +0.45, Percent Change: +7.87