QuantumScape Stocks Soar After Signing Massive Deal With Another Top Automaker
Lithium Metal, also known as solid-state, is the buzzword for groundbreaking battery technology for the future of electric vehicles. The battery tech is undoubtedly a savior for EVs, promising fast charge times, better energy density, and lower cost of production.
Quantumscape, a leader in solid-state battery development, knows what they have and is pushing to become the top leader in action. The company competing in a very competitive space is out to prove they have the answer for cutting-edge battery technology.
What Is Quantumscape Doing?
The company already has backing from Volkswagen, the second-largest vehicle manufacturer, but now they have another player. Recently, Quantumscape signed a deal with another large vehicle maker who agreed to test their batteries, but who is it?
The only thing we know is that it is one of the top 10 largest automakers globally. This information could mean anyone from Ford to Toyota. But the thing is, they have signed the deal.
Why Is This Important?
This information is essential for a few reasons. First, if you are into investing, Quantumscape is proving to have a very viable product. The market for their fantastic battery technology is just getting started.
The company is also continuing to develop and make the batteries better for more than EVs. Cellphones, laptops, and other battery-powered devices will also be wise to utilize such fascinating tech. This means our lives will change drastically when these batteries become mainstream.
Suppose Quantumscape can keep pushing to build its rapport with these automakers. In that case, we could see the new leader in battery technology. This company has an excellent platform to jump from and take a quantum leap from where they are today.
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Peter Neilson is an automotive consultant specializing in electric cars and hybrid battery technologies. He holds a Bachelor of Science in Automotive Service Technology from Weber State University. Peter can be reached on Linkedin and you can tweet him at The_hybrid_guy on Twitter. Find his page on Facebook at Certified Auto Consulting. Read more of Peter's stories at Toyota news coverage on Torque News. Search Toyota Prius Torque News for more in depth Prius coverage from our reporter.