<p>瞭解電動汽車（EV）故事的發展方向變得越來越困難。有些人説需求正在減弱，而另一些人則堅稱完全電動的未來就在眼前。</p>
<p>然而，雙方似乎都同意的一個挑戰是電池技術。實際上，從開採原材料到建造製造工廠，目前的電動汽車電池都很昂貴。它們還笨重，易燃，充電緩慢，續航有限。</p>
<p>如果交通運輸要完全電動，就需要更好的電池。<strong>QuantumScape</strong>（QS -0.81%）認為它已經制造出了一種：一種固態電池，充電更快，使用壽命可能比典型的鋰離子電池更長。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQ4MjIvcXMtY2VsbC1pbWFnZS5wbmcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQ4MjIvcXMtY2VsbC1pbWFnZS5wbmcmdz03MDA"/></p>
<p>圖片來源：QuantumScape。</p>
<p>該公司有幾個原型，但在商業化固態電池方面一直面臨困難。然而，最近的製造進展可能正在改變這一局面，並使這隻股票在未來五年內有望飆升。</p>
<h2>擴大 Cobra 分離器的規模可能解鎖商業現實</h2>
<p>過去，QuantumScape 的固態技術在實驗室中有效，但在商業層面上一直難以生產。這使得投資者對該公司能否生產足夠的電池以實現顯著盈利感到悲觀。</p>
<p>這一局面在夏季中期發生了戲劇性的變化，當時 QuantumScape 宣佈對其製造技術進行了重大升級。</p>
<p>在 2025 年第二季度的電話會議上，管理層宣佈成功將其 Cobra 固體分離器應用於原型製造線。這一升級可以顯著提高生產力——約是之前設備的 25 倍——並幫助其最終實現大規模生產電池。</p>
<p>緊隨這一升級之後，9 月首次在現實生活中演示了固態電池。儘管電池並不在汽車上——而是在摩托車上——但證明了其技術可以在現實應用中存在，而不僅僅是在實驗室中。</p>
<p>該公司尚未產生收入，但有足夠的現金可以持續到至少 2029 年。如果它能在其他公司之前商業化其固態電池，還可能獲得顯著的先發優勢。</p>
<p>這隻股票風險較高，因此保守的投資者可能想要觀望。但對於押注電動汽車普及的激進投資者來説，持有這隻股票五年可能會有回報。</p>

<p>QuantumScape 因其固態電池技術的進步，預計在未來五年將實現顯著增長。儘管在產品商業化方面面臨挑戰，但最近對製造工藝的升級，特別是 Cobra 固體分隔器，顯著提高了生產效率。該公司已在實際應用中展示了其技術，儘管目前尚無收入。憑藉充足的現金儲備直到 2029 年，QuantumScape 有可能在電動車市場獲得先發優勢，使其成為激進投資者的一個有吸引力的選擇，儘管存在固有風險</p>

<p>It's getting harder to know where the electric vehicle (EV) story is heading. Some say demand is fading, while others insist that a fully electric future is still just around the corner.</p>
<div class="lb-trans"><p>瞭解電動汽車（EV）故事的發展方向變得越來越困難。有些人説需求正在減弱，而另一些人則堅稱完全電動的未來就在眼前。</p>
</div><p>One challenge both camps seem to agree on, however, is battery technology. Indeed, between mining raw materials and building manufacturing plants, current EV batteries are expensive. They're also cumbersome, prone to fires, slow to charge, and limited in range.</p>
<div class="lb-trans"><p>然而，雙方似乎都同意的一個挑戰是電池技術。實際上，從開採原材料到建造製造工廠，目前的電動汽車電池都很昂貴。它們還笨重，易燃，充電緩慢，續航有限。</p>
</div><p>If transportation is going fully electric, it needs a better battery. <strong>QuantumScape</strong>(QS -0.81%) thinks it has built one: a solid-state battery that charges faster and could last longer than the typical lithium-ion.</p>
<div class="lb-trans"><p>如果交通運輸要完全電動，就需要更好的電池。<strong>QuantumScape</strong>（QS -0.81%）認為它已經制造出了一種：一種固態電池，充電更快，使用壽命可能比典型的鋰離子電池更長。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQ4MjIvcXMtY2VsbC1pbWFnZS5wbmcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F834822%2Fqs-cell-image.png&amp;op=resize&amp;w=700"/></p>
<p>Image source: QuantumScape.</p>
<div class="lb-trans"><p>圖片來源：QuantumScape。</p>
</div><p>The company has several prototypes, but it's struggled to commercialize a solid-state battery. Recent manufacturing developments, however, could be changing that -- and setting this stock up to soar over the next five years.</p>
<div class="lb-trans"><p>該公司有幾個原型，但在商業化固態電池方面一直面臨困難。然而，最近的製造進展可能正在改變這一局面，並使這隻股票在未來五年內有望飆升。</p>
</div><h2>Scaling the Cobra separator could unlock commercial reality</h2>
<div class="lb-trans"><h2>擴大 Cobra 分離器的規模可能解鎖商業現實</h2>
</div><p>In the past, QuantumScape's solid-state technology has worked in labs but has always been difficult to produce at a commercial level. It made investors bearish that the company would ever produce enough to become significantly profitable.</p>
<div class="lb-trans"><p>過去，QuantumScape 的固態技術在實驗室中有效，但在商業層面上一直難以生產。這使得投資者對該公司能否生產足夠的電池以實現顯著盈利感到悲觀。</p>
</div><p>That changed dramatically in the middle of the summer when QuantumScape announced a huge upgrade to its manufacturing technology.</p>
<div class="lb-trans"><p>這一局面在夏季中期發生了戲劇性的變化，當時 QuantumScape 宣佈對其製造技術進行了重大升級。</p>
</div><p>In its second-quarter 2025 conference call, management announced it had successfully implemented its Cobra solid separator into its prototype manufacturing line. The upgrade can significantly improve productivity -- about 25 times more than its previous equipment -- and help it eventually produce batteries at scale.</p>
<div class="lb-trans"><p>在 2025 年第二季度的電話會議上，管理層宣佈成功將其 Cobra 固體分離器應用於原型製造線。這一升級可以顯著提高生產力——約是之前設備的 25 倍——並幫助其最終實現大規模生產電池。</p>
</div><p>Following on the heels of this upgrade came the first real-life demo of a solid-state battery in September. Although the battery wasn't in a car -- it was in a motorcycle -- it proved that its technology can exist outside of labs in real-world applications.</p>
<div class="lb-trans"><p>緊隨這一升級之後，9 月首次在現實生活中演示了固態電池。儘管電池並不在汽車上——而是在摩托車上——但證明了其技術可以在現實應用中存在，而不僅僅是在實驗室中。</p>
</div><p>The company isn't generating revenue, but it has enough cash to last until at least 2029. It could also have significant first-mover advantage if it can commercially market its solid-state battery before others.</p>
<div class="lb-trans"><p>該公司尚未產生收入，但有足夠的現金可以持續到至少 2029 年。如果它能在其他公司之前商業化其固態電池，還可能獲得顯著的先發優勢。</p>
</div><p>The stock is risky, so conservative investors may want to hold off. But for aggressive investors betting on EV adoption, holding it for the next five years could pay off.</p>
<div class="lb-trans"><p>這隻股票風險較高，因此保守的投資者可能想要觀望。但對於押注電動汽車普及的激進投資者來説，持有這隻股票五年可能會有回報。</p>
</div>

預測：QuantumScape 將在未來五年內大幅上漲。以下是其中一個原因