- QuantumSpace is making batteries with “purest lithium” for EVs
- The company claims that these EVs would charge faster and cost less
- The startup is soon to go public at the New York Stock Exchange
- QuantumSpace has raised over $500 million
A California-based startup is hoping to give Elon Musk’s Tesla a tough competition in the electric vehicles market, with claims to developing a breakthrough battery technology.
QuantumSpace, backed by Bill Gates and the Volkswagen Group, announced its intention to list on the New York Stock Exchange after merging with shell company Kensington Capital Acquisition earlier this month, at an enterprise value of $3.3 billion.
QuantumSpace, if its claims of superior battery technology to Tesla’s is true, could shake up the dominant position that Tesla has enjoyed in the EV space for the past decade. It could even play out as an extension of the rather public feuding between