QuantumScape, a development-stage company focusing on next-generation battery technology for electric vehicles (EVs) and other applications, reported a net loss from operations of approximately $134.5 million for the three months and $266.4 million for the six months ended June 30, 2024. The company has an accumulated deficit of approximately $3.1 billion since inception. Despite the losses, QuantumScape is advancing in its product development, having shipped its first 24-layer prototype battery cells to automotive OEMs for testing in 2022. The company's research and development efforts are ongoing, with a focus on improving prototype cells' energy density and manufacturing processes. QuantumScape's collaboration with PowerCo SE, a Volkswagen-owned battery cell company, aims to industrialize solid-state lithium-metal battery technology for use in QuantumScape...Show More

QuantumScape, a development-stage company focusing on next-generation battery technology for electric vehicles (EVs) and other applications, reported a net loss from operations of approximately $134.5 million for the three months and $266.4 million for the six months ended June 30, 2024. The company has an accumulated deficit of approximately $3.1 billion since inception. Despite the losses, QuantumScape is advancing in its product development, having shipped its first 24-layer prototype battery cells to automotive OEMs for testing in 2022. The company's research and development efforts are ongoing, with a focus on improving prototype cells' energy density and manufacturing processes. QuantumScape's collaboration with PowerCo SE, a Volkswagen-owned battery cell company, aims to industrialize solid-state lithium-metal battery technology for use in QuantumScape's first planned product, the QSE-5. The company's cash and cash equivalents, along with marketable securities, totaled approximately $937.9 million as of June 30, 2024. QuantumScape's cash resources are expected to last into 2028, with plans to continue investing in research and development to improve battery cell performance and reduce costs. Regulatory changes and access to capital remain key factors for the company's future success.