Is This Forgotten Battery Stock Primed To Deliver Gains In The Next Leg of The EV Revolution?
Yahoo Finance ·
QuantumScape ( QS 0.99% ) , a developer of solid-state batteries, went public through a merger with a special-purpose acquisition company (SPAC) on Nov. 27, 2020. Its stock started trading at $24.80 and skyrocketed to an all-time high of $131.67 on Dec. 22, 2020. Unfortunately, QuantumScape missed its goal of commercializing its first batteries by 2024, didn't generate any meaningful revenue, and racked up steep losses. That's why its stock now trades at about $7. But could it eventually bounce back as the EV market expands and evolves? QuantumScape's solid-state batteries run on solid electrolytes rather than the liquid electrolytes used in lithium-ion batteries. That difference gives them greater stability, better thermal resistance, higher charging capacities, and shorter charging times. QuantumScape has been co-developing its batteries with Volkswagen (OTC:VWAP.Y) over the past decade. Its latest QSE-5 battery has a cell-level density of 844 Wh/L (watt hours per liter) and can be rapidly charged from 10% to 80% in under 15 minutes.
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