QuantumScape (QS) is back in focus on Wall Streetafter a scorching run-up in which its shares have reached new 52-week highs. The pioneer of solid-state batteries is up roughly 45% just five trading days, thanks to excitement over its latest production announcement.
This wave of interest in QS emerges at a critical time for the electric vehicle industry, which needs better, safer battery tech. Solid-state cells will yield longer ranges, rapid recharge ability, and higher inherent safety levels, and QuantumScape is aspiring to deliver these cutting-edge batteries. Its latest Cobra separator breakthrough has renewed investor confidence that QS could truly be an industry disruptor.
QuantumScape (QS) is a next-generation developer of solid-state lithium-metal batteries for the electric vehicle industry. Although its market capitalization is approximately $6.3 billion, QuantumScape does not have any commercial revenue. However, the company is consistently positioning itself as a future market leader based on its innovation leadership as well as partners. QuantumScape’s agreement with Volkswagen’s (VWAGY) PowerCo battery arm is evidence of its ambitions of scaling up production.
QS stock has given investors a rollercoaster ride. Shares have surged from a 52-week low of $3.40 to a new high of $13.61 in 2025, good for a gain of over 152% in the year to date. That performance blows away the roughly 7% year-to-date appreciation of the S&P 500 Index ($SPX).
QuantumScape’s quarterly results were in line with expectations for a pre-revenue deep-tech developer. It recorded a net loss of $114.4 million in Q1 2025 with an adjusted EBITDA loss of $64.6 million, within its full-year adjusted EBITDA loss targets of $250 million to $280 million. This comes as it increases spending in efforts of establishing next-generation cell production lines.
Among the biggest positives was QuantumScape’s announcement of its Cobra separator process breakthrough. It offers a 25-time production rate increase over its previous system with significantly reduced equipment footprint. The company confirmed that Cobra is already in base production ahead of schedule and that it will have greater levels of its QSE-5 battery cells entering the company’s current launch program with Volkswagen’s PowerCo.
