The reason QuantumScape's share prices are upsurging today.
While the S&P 500 and Dow Jones Industrial Average are treading separate paths this truncated trading week, QuantumScape (QS -6.14%) is seeing a surge. This surge is due to a major electric vehicle (EV) manufacturer announcing their plan to utilize solid-state batteries in their vehicles. Intrigued investors are taking notice.
As of 11:33 a.m. ET, QuantumScape shares are up 6.3%.
2027 Marks a Major Turning Point for Solid-State Batteries
Get ready for EVs cruising around China powered by solid-state batteries soon. Electrek, a prominent EV industry source, reported that BYD, the world's largest EV manufacturer, aims to debut their first vehicles powered by all-solid-state batteries in 2027. Sun Huajun, chief technology officer for BYD's battery business, details that the company will produce a limited number of these vehicles from 2027 to 2029. Once the demonstration phase concludes in 2030, production will ramp up significantly.
This news is undeniably good news for QuantumScape investors. BYD's bullish stance on solid-state battery technology gives them added confidence in QuantumScape's potential, as widespread adoption of this technology still seems like an elusive dream.
QuantumScape is making remarkable strides in refining its manufacturing processes and aims to commence the demonstration phase with an unnamed partner in 2026.
Should You Invest in QuantumScape Now?
BYD's plans for solid-state battery powered vehicles may spark interest, but should it lead you to buy QuantumScape stock? Not necessarily. The company has made substantial progress in validating its technology and capabilities to manufacture solid-state batteries on a large scale. With a higher risk tolerance, now could be an opportune time to delve deeper and consider buying.
But remember, this isn't a call to action. QuantumScape is in a highly competitive field, with many players chasing the same goal. Do your due diligence before making any investment decisions.
- Investors who are interested in finance and looking for potential opportunities in the EV sector might be intrigued by QuantumScape's recent surge, given that a major EV manufacturer has announced their plans to utilize solid-state batteries in their vehicles.
- With BYD, the world's largest EV manufacturer, aiming to debut their first vehicles powered by all-solid-state batteries in 2027, there could be substantial opportunities for companies like QuantumScape that are making strides in this technology.
- As of now, QuantumScape is preparing to commence the demonstration phase of its solid-state battery technology with an unnamed partner in 2026, which could significantly bolster their position in the competitive EV battery market by 2029.
- Given that BYD's plans for solid-state battery powered vehicles could potentially disrupt the market, investors might want to consider adding QuantumScape to their portfolio, especially if they have a higher risk tolerance and are willing to conduct thorough research before making an investment decision.
