If QuantumScape can commercialize solid-state batteries in the EV battery market, it could grab a huge chunk of the market.
The EV battery industry could be worth $82.8 billion by 2026. Moreover, it appears to be the front runner in the development of solid-state batteries despite the competition.
QuantumScape can effectively publish the results of its testing in both multi-layer and single battery cells.
The company is well-funded at this stage, according to its first-quarter report this year. It has current total asset positioning of roughly $1.6 billion.
Another key element to consider is that automotive giant Volkswagen (OTCMKTS:VWAGY) and Bill Gates back the company. Hence, with support from such big names, it’s clear that the company should have enough funds to complete its milestones without any hiccups.
QuantumScape is a pre-revenue enterprise with expectations of commercial production in 2024 at the earliest. The progression of QS stock is naturally dependent upon its ability to meet its objectives consistently and hit all its deadlines.
If it can continue on this path of de-risking, then the stock can have a lot of long-term value for investors. However, investors need to be confident about whether these deadlines will be met or not.
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