QuantumScape, a development-stage company focusing on next-generation battery technology for electric vehicles (EVs) and other applications, reported a net loss from operations of approximately $479.0 million for the year ended December 31, 2023. This represents an increase from the previous year's net loss of $420.6 million. The company has an accumulated deficit of approximately $2.9 billion since inception. Despite the losses, QuantumScape has made significant strides in product development, shipping its first 24-layer A0 prototype battery cells to multiple automotive OEMs for testing in 2022. The company is currently working on enhancing its QS-0 pre-pilot line in San Jose, California, and planning for QS-1 through a joint venture with Volkswagen. QuantumScape's future plans include expanding production capacity in partnership with Volkswagen and...Show More

QuantumScape, a development-stage company focusing on next-generation battery technology for electric vehicles (EVs) and other applications, reported a net loss from operations of approximately $479.0 million for the year ended December 31, 2023. This represents an increase from the previous year's net loss of $420.6 million. The company has an accumulated deficit of approximately $2.9 billion since inception. Despite the losses, QuantumScape has made significant strides in product development, shipping its first 24-layer A0 prototype battery cells to multiple automotive OEMs for testing in 2022. The company is currently working on enhancing its QS-0 pre-pilot line in San Jose, California, and planning for QS-1 through a joint venture with Volkswagen. QuantumScape's future plans include expanding production capacity in partnership with Volkswagen and working with other OEMs to commercialize its solid-state battery cells. The company's cash resources are expected to last into the second half of 2026, supported by a public offering in August 2023 that raised $288.2 million. QuantumScape has not generated any revenue to date and does not anticipate paying cash dividends in the foreseeable future. The company's stock is traded on the NYSE under the symbol 'QS'.