Should You Buy QuantumScape While It's Below $9?

Core Viewpoint - QuantumScape has experienced a challenging year, with its stock significantly down from its previous high, raising questions about its investment potential as it trades under $9 per share [1]. Group 1: Business Progress - QuantumScape made significant advancements in battery technology last year, notably integrating the Cobra separator process into production, achieving a 25x improvement in heat-treatment speed compared to the previous Raptor process [2]. - The company began shipping QSE-5 B1 cell samples to automotive customers in Q3, showcasing an energy density of 844 Wh/L and 301 Wh/kg, allowing for smaller and lighter batteries that can fast-charge from 10% to 80% in under 15 minutes [3]. Group 2: Collaborations and Agreements - QuantumScape expanded its collaboration with PowerCo, Volkswagen's battery arm, allowing for the mass production of battery cells up to 40 GWh per year, with potential expansion to 80 GWh per year [5]. - The company entered a joint development agreement with Murata Manufacturing and Corning to produce ceramic separators at high volume for its solid-state batteries, enhancing its global supplier ecosystem [5]. Group 3: Future Outlook - QuantumScape plans to begin field testing of its QSE-B1 sample cells in vehicles this year, as part of a program to demonstrate the technology's capabilities in real-world applications [6]. - The company anticipates an adjusted EBITDA loss between $250 million and $275 million for the full year [6].