How Will Toyota’s Big Battery Bet Impact QuantumScape Stock

How Will Toyota’s Big Battery Bet Impact QuantumScape Stock

QuantumScape (NYSE: QS), a startup that is working on solid-state lithium metal batteries for electric vehicles, has seen its stock decline by about 6% over the last week (five trading days) compared to the S&P 500 which remained roughly flat over the same period. The decline comes as Toyota, the world's largest automaker, indicated that it was looking to invest over $13. 5 billion by 2030 to develop battery technologies, focusing on not just the next generation of lithium-ion batteries, but also on solid-state batteries, which QuantumScape specializes in. The Japanese automaker also provided a short look at a prototype vehicle running with solid-state batteries. Although Toyota has been developing solid-state tech for a while now and apparently holds the most number of patents in the space, its recent announcements likely hurt QuantumScape stock. So will the decline continue for QuantumScape stock, or are gains looking more likely? Per data from the Trefis Machine Learning engine, which analyzes historical stock price information, QS stock has a 57% chance of a decline over the next month. See our analysis on QuantumScape Stock Chances Of Rise for more details. So is QS stock still worth a look for longer-term investors? We don't