12 Small Cap EV Stocks to Buy Now

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8. QuantumScape Corporation (NYSE:QS)

Market Capitalization: $2.16 Billion

Number of Hedge Fund Holders: 22

QuantumScape Corporation (NYSE:QS) is an American company that specializes in solid-state lithium-metal battery technology, which is designed to enable greater energy density, faster charging, and enhanced safety. The company develops solid-state rechargeable lithium metal batteries for electric cars. QuantumScape Corporation (NYSE:QS) ranks among the best EV stocks to buy now.

In December 2024, QuantumScape Corporation (NYSE:QS) announced that it had successfully developed, delivered, installed, and released its next-generation heat treatment equipment for its separator production process, Cobra. This achievement is a major step toward making solid-state batteries commercially available for EVs and it put the company on track to deliver higher-volume samples of its first planned commercial product, QSE-5. This news comes after the company entered into an agreement with Volkswagen Group’s battery company PowerCo in July 2024 to industrialize QuantumScape’s next-generation solid-state lithium-metal battery technology. Under the non-exclusive license, QuantumScape Corporation (NYSE:QS) will license its technology to PowerCo, which will be able to manufacture up to 40 gigawatt-hours (GWh) of battery cells annually. PowerCo will have an option to expand up to 80 GWh annually, which is enough to outfit about 1 million electric vehicles each year.

QuantumScape Corporation (NYSE:QS) aims to license its technology platform across the EV and energy storage industries and this partnership will accelerate the large-scale production of these next-generation batteries to meet the growing demand for better electric vehicle batteries. The company reported that it is looking to expand its portfolio of potential licensing partnerships in 2025 and is in active discussions with additional automotive OEM customers.

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