QuantumScapeNYSE: QS

QuantumScape is developing solid-state battery technology that could improve the range of electric vehicles. The company continues to develop its technology, but it could take years to achieve production at scale.

SAN JOSE, Calif.--(BUSINESS WIRE)--QuantumScape announced the appointment of Sebastian Schebera, head of strategic partnerships at Volkswagen AG, to its board of directors.

QuantumScape is developing a new form of batteries for electric vehicles (EVs). The company is making headway on its operational milestones, an encouraging sign in an otherwise stalling EV market.

QuantumScape has struggled with delays since its public debut. It could struggle to keep up with other battery makers and automakers.

QuantumScape's stock has dropped by over 95% from its peak, but the bulls remain impressed by its solid-state battery technology.

Quantumscape began delivering its Alpha-2 prototype battery cells during the quarter. The company's operating loss for the quarter increased to $132 million.

Investors in QuantumScape (NYSE: QS) have faced a challenging period recently, with QS stock dropping over 25% this year and significantly more from its peak in 2020/2021.

QuantumScape's first-quarter earnings report revealed some concerning details, leading UBS to lower its price target on QS stock to $5 from $9 due to an earnings shortfall.

QuantumScape (NYSE: QS) stock has experienced a significant decline this year, following the trend of other companies in the electric vehicle industry. As forecasted in my previous article, the stock has fallen to its lowest point since November 2023, with analysts suggesting there may be further declines ahead.