Poised to extend their decline for a third consecutive day, shares of QuantumScape (NYSE: QS) are plunging in today's trading session. Investors are motivated to click the sell button today after learning of growing competition in solid-state batteries, while the bitter taste of an analyst's recent bearish take on QuantumScape's stock is also contributing to the sell-off.

As of 12:14 p.m. ET, shares of QuantumScape have fallen 7.5%.

Taking a step toward its goal of including solid-state batteries in its electric vehicles (EVs) by 2028, is retooling its plant in Yokohama to commence production of solid-state batteries next year, according to Automotive News.

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Source Fool.com