QuantumScape downgraded to Hold as EV market shrinks and commercialization delays push profits to 2033

QuantumScape (QS) has been downgraded to Hold due to ongoing delays in bringing its products to market and a shrinking total addressable market (TAM) for electric vehicles (EVs). Its partnership with PowerCo SE has extended the product launch timeline to 2029 and reduced milestone payments, tightening capital use. Despite strong customer orders and a healthy cash position, revenue recognition is delayed, with the first positive earnings per share (EPS) now expected in 2033. The stock trades at a high valuation of 40 times projected 2028 sales, but frequent downward revisions and execution risks overshadow potential short-term gains.

QuantumScape shares have gained 2.49% in the past day, trading at USD 4.12 on Pluang. The stock's market cap stands at $2.48 billion with a typical hold time of 37 days as of Oct 19, 2026 19:43 WIB.