The SPAC with ticker KCAC, is merging with QuantumScape, the Bill Gates and Volkswagen backed next gen battery company. QuantumScape has the co founder of Tesla JB Straubel on the board. They’re attempting to commercialise solid state batteries, where the electrolyte between the anode and cathode is solid as opposed to liquid.
The battery they’re developing should have much better energy density than current electric vehicle batteries.
At $10 a share the merger would value QS at 3.3bn, so if you bought today at $20 you’re paying ~$6.6Bn. They don’t expect to start selling the product for some years yet.
It will be interesting what Tesla comes with on battery day, if they have achieved much higher energy density using a different approach, it would undermine the solid state approach, if they are using the same approach or fail to show a significant improvement, that would bode well for QS.
Sorry if this is wrong but it’s my first request for stock.
I’m following most of the EV car stocks and figured a batteryanufactier who has just launched this month would be a good addition.
QuantumScape (QS), a battery developer for electric vehicle use, began trading on the New York Stock Exchange today following a SPAC merger. Shares of the San Jose-based company were up 49% in early trading during.
QuantumScape is aiming to commercialize its solid-state lithium metal batteries which it claims provide a greater range, a much faster charge time and are safer and more cost effective than conventional technologies used today.
It could go to something even more ridiculous as all the shorts are forced to buy back their shares. But based purely on business prospects I’m not sure current price represents good value, no revenue till 2024 etc