EV Penny Stocks List: From $10 to Under $1

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6. QuantumScape Corp (NASDAQ:QS)

Number of Hedge Fund Holders: 22

Share Price as of April 16 2025: $3.79

QuantumScape Corp (NASDAQ:QS) is an auto parts company that focuses on developing and commercializing solid-state lithium-metal batteries for electric vehicles and other applications. The company is increasingly working on solid-state batteries that have demonstrated fast charging capabilities and high energy density.

It has also initiated a strategic partnership with Volkswagen’s battery company, PowerCo, to expedite the commercialization of solid-state battery technology. The agreement provides PowerCo with a non-exclusive license to leverage QuantumScape Corp’s (NASDAQ:QS) technology platform for the large-scale manufacturing of battery cells.

Volkswagen’s electric vehicle battery division will have the capacity to produce up to 40 gigawatts-hours (GWh) each year, possibly increasing production to as high as 80 GWh. The Volkswagen strategic partnership is essential and could help the company break into the burgeoning electric vehicle space.

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