QuantumScape (NYSE:QS) is trying to revolutionize electric vehicle (EV) battery technology, and made an announcement today that investors took notice: The company is working to develop solid-state batteries that it says will significantly improve efficiency , safety and required charging time, compared to existing EV batteries.
The company announced today that the equipment needed to produce its solid-state lithium-metal batteries has been installed and released for initial processing of the solid-state separator component. That sent shares up 16% in early trading. After paring some of that gain, shares of QuantumScape remained up 5.5% as of 11:45 a.m. ET.
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QuantumScape has a two-step plan to commercialize its solid state EV battery. The “Raptor” first-stage process has already been used to produce low-volume prototypes, and battery cell samples from its Raptor manufacturing process have been sent to potential customers in the automotive sector for testing.
The next production stage “Cobra” is expected to begin next year, and the release this month of the heat treatment equipment needed to process the solid separator was QuantumScape's final goal for 2024. The fact that it on schedule to begin producing samples of its first commercial product in higher volumes next year is enticing investors to buy the stock today.
Tim Holme, Chief Technology Officer (CTO) of QuantumScape, said: “Cobra represents a real breakthrough in ceramic manufacturing and will lead the way in the evolution of our battery technology. »
This step, however, is just one step in the long process leading to full approval and commercial-scale manufacturing. Investors should be aware that QuantumScape remains a risky stock to own. But by staying on schedule and meeting all of its 2024 targets, the company is on track to potentially generate significant returns for shareholders in the future.
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