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QuantumScape stock (NYSE: QS) rose more than 13% this morning amid speculation it could benefit from Apple’s own electric vehicle (NASDAQ: AAPL), Reuters previously reported that the iPhone maker will be using it as early as 2024 could start producing his own electric vehicle

Okay, so what is there to speculate on? In a word, batteries QuantumScape makes them, and if Apple makes an EV, the cars will need them, according to the report, Apple’s electric vehicle would be powered by a monocell battery design that offers greater range than traditional electric vehicle batteries, according to reports, the use of a lithium iron phosphate battery is also being investigated

QuantumScape’s solid state lithium batteries are considered by many experts to be superior to competing products. Recently published performance data showed that QS batteries perform exceptionally well in terms of charge time, life, safety and operating temperature
You may recall that QS stock is the successor to a SPAC merger with Shell company Kensington Capital This deal combined two of the hottest investment trends of the year: Special Purpose Acquisition Companies (SPACs) and Electric Vehicles (EVs)

QuantumScape was founded in 2010 by Jagdeep Singh and was supported early on by Microsoft (NASDAQ: MSFT) founder Bill Gates and Volkswagen (OTCMKTS: VWAGY)

According to Volkswagen CEO Herbert Diess, “Volkswagen has become the largest shareholder in QuantumScape … One of the long-term goals is to set up a production line for solid-state batteries by 2025”

InvestorPlace employee Chris Markoch perfectly summed up the importance of the QuantumScape product offering when he wrote: “… lithium-ion batteries are the Achilles’ heel of the EV revolution and that heel will only become more exposed as the demand for electric vehicles increases” P>

QS stock was red-hot even before Apple speculation After the merger, QuantumScape stock went parabolic After Ian Bezek recently hit a high of $ 76, he called the valuation “absurd and unjustified.” “And that was before any hint of an Apple “iCar, now it’s slated to open at around $ 110 per share on Tuesday

Investors who do not already own QuantumScape stock would be taking a high risk with these rumors

Think of Apple as a Better Choice Now It has made today’s list of the seven best stocks to buy right now as political winds and investor sentiment change in late 2020

At the time of this writing, Robert Lakin held (neither directly nor indirectly) positions in the securities mentioned in this article

InvestorPlace associate Robert Lakin is a seasoned finance writer and editor who follows fintech, agtech and property tech startups

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2020 InvestorPlace Media, LLC All rights reserved 1125 N Charles St, Baltimore, MD 21201

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World News – US – QS Share: QuantumScape Shares Load Big Apple EV News