Keep an eye on QuantumScape (QS).
Beaten down shares of QuantumScape are pushing higher “because more car makers are interested in its revolutionary lithium-ion battery technology,” says Barron’s.
After all, according to Yahoo Finance, “QuantumScape’s data showed its battery cell could charge to 80% of capacity in 15 minutes. Further, it retains more than 80% of its capacity after 800 charging cycles, is non-combustable and boasts nearly double the energy density of high-end commercial lithium batteries.”
“QuantumScape may have developed the battery that addresses some of the biggest problems with electric vehicles: speed to charge and safety. And secondarily, the company’s battery breakthrough may be leveraged across other commercial applications,” they added.
No wonder auto companies are interested.
Just today, QS signed an agreement to work with another “top 10 by global revenues” auto maker, reports Barron’s. It’s also already working with Volkswagen, which holds about a 20% stake in the QS company. Helping, QS wants to ship batteries for testing and potential integration into vehicles by 2025.
It’s definitely a stock investors may want to buy for the long-term.
Further success and adoption of its battery could eventually send the QS stock back to $132. QS last traded at $23.25.
