However, QuantumScape remains one of the few pure-play publicly listed bets on the solid-state battery space. Several startups, established companies, and academia have research and development projects related to the tech and it’s probably a given that there will be multiple successful players. Significant competition is to be expected in the solid-state battery space, which is viewed as the “holy grail” of sorts in the battery industry, as it could increase the range of EVs, reduce charging times, while also making EVs safer. So is QS stock still worth a look for longer-term investors? We don’t think Toyota’s recent announcements really change the picture for QuantumScape. See our analysis on QuantumScape Stock Chances Of Rise for more details. So will the decline continue for QuantumScape stock, or are gains looking more likely? Per data from the Trefis Machine Learning engine, which analyzes historical stock price information, QS stock has a 57% chance of a decline over the next month. Although Toyota has been developing solid-state tech for a while now and apparently holds the most number of patents in the space, its recent announcements likely hurt QuantumScape stock. The Japanese automaker also provided a short look at a prototype vehicle running with solid-state batteries. The decline comes as Toyota, the world’s largest automaker, indicated that it was looking to invest over $13.5 billion by 2030 to develop battery technologies, focusing on not just the next generation of lithium-ion batteries, but also on solid-state batteries, which QuantumScape specializes in. QuantumScape (NYSE: QS), a startup that is working on solid-state lithium metal batteries for electric vehicles, has seen its stock decline by about 6% over the last week (five trading days) compared to the S&P 500 which remained roughly flat over the same period.
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