Why QuantumScape Stock Is Falling Today
Shares of QuantumScape (NYSE: QS) opened Tuesday trading in the red and were down 4.7% as of 9:45 a.m. ET. The company's solid-state battery technology is touted to be a game changer for the electric-vehicle (EV) industry, but the company is still testing prototypes and has missed its earlier deadlines for the commercialization of the batteries.
If reports are to be believed, QuantumScape's longest-standing partner Volkswagen is getting impatient now and looking at other options.
QuantumScape's partnership with Volkswagen dates back to 2012. Over time, the automaker has invested more than $300 million in QuantumScape, committed more capital to a joint venture with the battery company, and already tested its multilayer battery cells.
Source Fool.com
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