12 Most Promising EV Battery Stocks According to Wall Street Analysts

10. QuantumScape Corporation (NYSE:QS)

Analysts’ Upside Potential as of April 29: 32.40%

QuantumScape Corporation (NYSE:QS) is developing next-generation solid-state lithium-metal batteries for electric vehicles, allowing them to recharge more quickly. The company’s solid-state lithium-metal battery technology has been designed to provide increased energy density, faster charging, and improved safety. Its batteries don’t contain any of the host elements found in traditional anodes. The American firm has begun to test its battery technology on a larger scale. Despite the fact that it presently generates no revenue, it intends to begin producing more than 200,000 batteries per year.

QuantumScape Corporation (NYSE:QS) achieved several important milestones in 2024, including the successful delivery of Alpha-2 samples, the acceleration of the Raptor process, the beginning of low-volume B0 manufacturing of its high-performance QSE-5 cells, and the launch of Cobra separator heat-treatment equipment. As part of a major strategic partnership with Volkswagen’s PowerCo, a 150-person joint team is industrializing the QSE-5 platform for gigawatt-hour-scale production. A shift to a more capital-light approach was reflected in the company’s better financial forecast, which projected a smaller adjusted EBITDA loss of $250-$280 million. The strong cash position of $910.8 million at year’s end allowed QuantumScape Corporation (NYSE:QS) to prolong its financial runway into the second half of 2028, making it one of the Most Promising Stocks on our list.

The company becomes a dominant rival in the bull market, growing to 1,500 GWh of capacity by 2045 and generating $13 per kWh, which leads to significant profits.