, Columnist
Stanford Scientists Create a Billionaire Factory
QuantumScape has developed some impressive technology but sustaining the current valuation could prove a challenge too far.
A $43 billion lab.
Source: QuantumScapeThis article is for subscribers only.
One of the most unsettling developments in business in 2020 was the trend for electric-vehicle companies to list on a stock exchange before they have their first revenues. Though standard practice for research-intensive life sciences companies, going public before you have a purchasable product is pretty unusual in the automotive world.
And yet, pre-revenue companies such as Nikola Corp. and Fisker Inc. have achieved multi-billion dollar valuations. Now, Californian battery start-up QuantumScape Corp. has taken electric-vehicle mania to a new level.