General Motors.
Another speculative name that went through the same trajectory after going public was solid-state battery technology company QuantumScape. Late last year its market cap ballooned to almost $50 billion -- that for a company without a proven technology and no plans for commercial sales before at least 2024. In the months since its stock peaked, though, shares have come down to bring its valuation to about $14 billion, and the company has taken several steps forward in the manufacturing progress.
QuantumScape's challenge was to take a single-layer battery cell made with a solid, ceramic separator, and prove it can be manufactured and operated as a multilayer cell required for
commercial use in electric vehicles. The company had initially planned to have the multilayer battery cell in testing by the end of 2021, but it announced in July that it already successfully produced the 10-layer battery cells that would be needed for commercialization. The company recently shared its performance data for the 10-layer battery cells. Jagdeep Singh, co-founder and CEO of QuantumScape, touted the results as proof that the company can scale to the needed technology and manufacturing levels. He said in a statement, "these are groundbreaking results, as we believe no other player has demonstrated equivalent performance with solid-state or lithium-metal battery technology."
QuantumScape also has a large investor that will be a ready-made customer in
Volkswagen (
OTC:VWAGY). The automaker has been independently testing the cells made thus far. If successful, QuantumScape's technology could be revolutionary to help overcome slow charging times and improve performance and safety versus current lithium-ion batteries. That remains a big "if" however. But the stock has already surged, then retreated. Rivian's stock may be on the same trajectory once the initial hype fades. Investors looking to speculate in the EV sector might do better at this stage to try going with QuantumScape.
newatlas.com
