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.
The company is backed by Bill Gates (Volkswagen AG (VOW.DE) Stock Price, News, Quote & History - Yahoo Finance))Former Tesla Chief Technology Officer JB Straubel is currently a QuantumScope board member.
Production of the batteries is several years away with Volkswagen aiming to install them in vehicles by 2025.
QuantumScape’s founder and CEO Jagdeep Singh told Yahoo Finance Live, “We’re really at the cusp for the beginning of this massive transformation” into electrification of vehicles.
“Whoever wins the battery battle, so to speak, is going to be looking at, in our opinion, a multi hundred billion dollar company,” said Singh prior to the listing.