With a $4.57 billion market cap, QuantumScape Corporation (QS), a research and development stage business, engages in the development and commercialization of solid-state lithium-metal batteries for use in electric vehicles (EVs) and other applications.
As the demand for EVs is increasing considerably globally, so is the need for lithium batteries. The global EV battery market is projected to reach $508.8 billion by 2033, growing at a 14.4% CAGR. One of the key reasons driving the global adoption of EVs is the government’s increasing emphasis on electrification to combat climate change and reduce reliance on fossil fuels.
