The big question will be whether the company can prove that batteries it manufactures in large quantities will live up to the promise they have shown in the lab. QuantumScape is building a pre-pilot manufacturing line in San Jose where it plans to make batteries by 2024 that automakers can use to test how they perform under the varying conditions that motor vehicles face.
While primarily focused on making batteries for EVs, QuantumScape is also partnering with Virginia-based Fluence Energy Inc. on using its solid state tech for stationary batteries used to store energy from wind and solar devices. QuantumScape went public in a merger with a blank check company in November 2020, before the wind went out of such deals. It was valued at around $54 billion shortly after going public. That's down to around $5 billion today, which still makes it one of the most highly valued upstarts in the battery business.