QuantumScape initiated with a Market Perform at William Blair

William Blair initiated coverage of QuantumScape with a Market Perform rating. The firm is extending its Energy and Sustainability research coverage into energy storage, specifically, lithium-ion battery, or LIB, technologies and launching coverage of a group of four companies in the advanced LIB industry, two pursuing high-content silicon and two developing Li-metal. QuantumScape is developing a unique “anode-free” battery and has delivered A-samples to auto OEM partners, but full commercialization is “a 2027 and beyond story,” the analyst tells investors. The firm also believes competition from high-content silicon will start to intensify into 2024, the analyst added.