QuantumScape (NYSE:QS) stock has been taking a beating on Wall Street as investors continue to be unimpressed by the progress made so far. The company has invented breakthrough battery technology that has the potential to change the landscape of the electric vehicle (EV) industry. Yet, the company’s stock is down 10% year-to-date and down 62.1% from its 52-weeks high.
Most recently, a German monthly business magazine, Manager Magazin, published the company’s partnership with Porsche. The company is expected to be supplying its solid-state batteries for electric version of Porsche’s 911 sports car. However, no official statement has yet been released from both the parties. QS did mention in its earnings report to be in alliance with three EV makers but did not name them.
The long-term prospects look appealing if QS is able to successfully commercialize its product.
The post QuantumScape Is a Risky and Unproven Bet originally appeared at InvestorPlace.