Two things sent the company stock in a downward trajectory. It hopes to commercialize its cells by 2024. “This corresponds to over 300,000 miles for a 300-mile battery pack and over 500,000 miles for a 500-mile battery pack,” the company said in a tweet. The company said it had created fire-resistant test batteries that continue to function after 1,100 cycles, retaining at least 80% of its capacity. QuantumScape, a California-based 2010 spinoff from Stanford University that has a joint venture with Volkswagen Group ( which invested more than $300 million), said in January that it is indeed making great strides toward commercializing the cells. The company hopes to commercialize its cells by 2024. Companies are mostly working on them at the cell level-the battery packs for cars are far from ready. But the stock exuberance hides the fact that getting solid-state batteries to the market is difficult and will take some time. These batteries can be lighter, with greater energy density, more range, lower cost, and faster recharge times. ![]() They do away with the liquid electrolyte that makes conventional lithium-ion batteries heavy, as well as dangerous at high temperatures. Solid-state batteries show enormous promise. What happened? First, let’s define our terms. An investor group filed a class-action suit against the company. But then shares plunged 60% from the high, “with the trajectory resembling a free fall,” said. ![]() Media reports gushed that the startup was rivaling Tesla and had launched one of the most valuable stocks in the auto industry. 27, and it promptly soared into the stratosphere-up 256% in less than a month. The solid-state battery company QuantumScape debuted its stock last Nov. Solid-state batteries may find their way into cars by the latter part of the 2020s, but it may initially be as a showcase for the technology-and at a significantly higher price than lithium-ion.Volkswagen, Toyota, General Motors, Hyundai, and Ford all have significant investments in solid-state battery technology companies.Automakers would love to have viable solid-state batteries, and while some are reportedly further along than others, battery packs for cars are far from ready.
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