Where Will QuantumScape Be in 5 Years?
Leading automakers across the world are ramping up their electric vehicle production. Governments' and environmental bodies' focus on reducing carbon emissions, increased customer awareness, and falling EV costs are some of the key factors contributing to the increasing popularity of electric vehicles.
The decreasing cost and increasing efficiency of batteries used to power EVs could accelerate that transformation. This is where QuantumScape (NYSE: QS) could play a crucial role. Let's see why the company's work in advancing the battery technology is promising, and where it may stand five years down the line.
One of the major factors restricting faster growth of EVs is the limitations of current batteries. The lithium-ion batteries currently in use face certain constraints. The two major disadvantages to combustion vehicles is the range on a single charge and the time to recharge. That's a big drawback compared to gasoline-powered vehicles, which can be refueled in minutes. Moreover, the battery costs are still high for mass adoption, even after falling significantly over the last few years.
Source Fool.com
