QuantumScape went public in 2020 claiming they'd commercialize their solid-state batteries by 2024. That hasn't happened and the stock is down from around $24 to $6. Their tech is promising for EVs, boasting a 12-minute charge time and high energy density. However, manufacturing their ceramic separators at scale has been difficult. They recently updated their manufacturing process but have decided to abandon building their own batteries. Instead, they will license the technology to Volkswagen and other automakers. In their latest Q2 report, they stated commercial readiness won't happen until 2029. With a $3.8B market cap and hundreds of millions in yearly losses, it remains a speculative play.