QuantumScape Corporation (NYSE:QS) is one of the best battery tech stocks to buy right now. On July 24, Baird maintained its Hold rating on the stock with a 12-month price target of $11. While Baird did not upgrade the rating, they had previously raised their target, noting the company’s continued technical progress, capital raises, and confidence in hitting key development milestones. However, they also pointed to concerns about rising capital investment in competing battery startups and broader valuation pressure on high-growth names, which might have caused Baird to be neutral on the stock. However, their current target implies an upside of 26%.Baird Holds on QuantumScape (QS) Amid Volkswagen Funding Boost

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QuantumScape announced on July 23 an expansion of its partnership with Volkswagen’s battery subsidiary, PowerCo. Under the new agreement, PowerCo will provide up to $131 million in additional funding over the next two years. The goal is to accelerate the launch and scale-up of QuantumScape’s QSE-5 pilot line in San Jose, which is focused on solid-state lithium-metal battery cells. This investment suggests increased confidence in QuantumScape’s technology and its path toward commercialization.

QuantumScape is a battery technology company developing next-generation solid-state lithium-metal batteries. Its innovation aims to deliver higher energy density, faster charging, and improved safety, targeting electric vehicle applications and aiming to outperform traditional lithium-ion battery technologies.

While we acknowledge the potential of QS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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