Why QuantumScape Stock Continued to Soar This Week

Key Points

• QuantumScape announced major progress in its quest to commercialize a new type of electric vehicle battery.

• The company will update investors again on July 23 when it reports its second-quarter results.

• 10 stocks we like better than QuantumScape ›

QuantumScape (NYSE: QS) is working to bring major enhancements to the performance of electric vehicle (EV) batteries. Investors hope its solid-state battery technology will become the new standard for EVs globally. As it continues to progress toward commercializing that tech, the stock price is reflecting the company's recent accomplishments.

QuantumScape shares have soared again this week -- up by 37.1% on the week as of noon ET Friday, according to data provided by S&P Global Market Intelligence. Over the last month, the stock has more than doubled.

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Image source: QuantumScape.

QuantumScape is almost ready for EV battery cell production

QuantumScape gave investors a nice surprise recently -- news that one of its most important 2025 goals has already been accomplished.

The company's technology includes solid-state batteries with ceramic separators that should lead to safer, faster-charging, and more efficient batteries for EVs. Two weeks ago, QuantumScape announced the successful scale-up of its production capabilities. Its new generation Cobra process will speed up a key ceramic separator production step by approximately 25 times, using equipment that occupies a much smaller footprint than its previous Raptor production process.

That puts QuantumScape on track to launch field testing next year with its automaker customers. Those include global giant Volkswagen, which holds a 17% stake in the battery maker, according to its annual report.

QuantumScape's solid-state batteries could provide EVs with significantly better travel range on a single charge than currently used batteries, which would help eliminate the range anxiety that has kept many potential EV buyers from considering them. More than 20% of all cars sold globally in 2024 were EVs, according to the International Energy Agency. While that amounted to sales of more than 17 million EVs, it also shows there is still massive growth potential in the market for such vehicles.

An investor update is coming in two weeks

That's why investors have been getting so excited and piling into QuantumScape stock recently. The company will report its second-quarter results on July 23, at which time investors will get a more detailed overview of its progress and hear more about its next steps.

Some aren't waiting for that update to own a piece of this promising EV technology company.

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Howard Smith has positions in QuantumScape. The Motley Fool recommends Volkswagen Ag. The Motley Fool has a disclosure policy.