Trust Size
$300M
Peak Price
$132.73
Current Price
$4.50
Return
-97.0%
Peak Market Cap
$50.0B
What Happened
Solid-state battery startup backed by Bill Gates and Volkswagen hit a $50B market cap with zero revenue. The stock crashed 97% as the company failed to deliver commercial products on its aggressive timeline.
QuantumScape merged with Kensington Capital Acquisition Corp in November 2020 during peak EV mania. The company claimed revolutionary solid-state battery technology that would double EV range. Bill Gates and VW invested over $300M. The stock hit $132 â valuing a pre-revenue company at $50B. A devastating short-seller report from Scorpion Capital questioned the viability of the technology. By 2025, QuantumScape had still not shipped a commercial product, burned through billions, and traded at $4.
Projections vs. Reality
Projected Revenue
$500M
What they told investors
Actual Revenue
$0
What actually happened
Key People
Jagdeep Singh
CEO
Stanford-connected founder, $450M+ in stock sales near peak
Bill Gates
Investor
Early backer via Breakthrough Energy Ventures
Timeline
2020-09
SPAC merger announced with Kensington Capital
2020-12
Stock hits $132, $50B valuation
2021-04
Scorpion Capital short report
2023-01
Still no commercial product
2025-01
Stock at $4, $2B+ cash burned
âïļ Legal Actions
âĒ Class action lawsuit filed by shareholders
ð SEC Filings
View all EDGAR filings for QuantumScape
Risk Scores
Dilution Score
65/100
Insider Profit Index
82/100