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EV battery stocks worse than bitcoin

By BFTLR Team

Bitcoin is a digital token with a finite supply for about 14 years. QuantumScape Corp, a $12.3 billion market cap EV battery maker that includes Volkswagen AG & Qatar Investment Authority as its shareholders had undergone a reverse merger with a SPAC. This stock has lost two-thirds of its value this year which is worse than bitcoin. QuantumScape claims that their batteries can extend the range of electric cars by 50% hence reducing the charge time for a long drive to just 15 minutes. However, this project is kept under wraps. Mass production is nowhere in sight for this zero revenue startup whose operating loses are on a rise. Bitcoins USP is its finite supply in the market. The same can’t be said of stocks. One more example is of China Evergrande Group’s $43 million market cap electric-vehicle unit, whose shares are even more volatile than bitcoin. Similar to QuantumScape, The EV maker also lags behind in mass production.

Source: Livemint

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