QuantumScape (NASDAQ: QS) has had a turbulent year, with shares now trading below $9, 63% down from its high of $19. The company made significant progress last year, notably with its Cobra separator process, achieving faster heat treatment and smaller, lighter batteries with faster charging capabilities.

QuantumScape expanded collaborations with PowerCo, Volkswagen’s battery arm, and entered agreements with Murata Manufacturing and Corning to produce ceramic separators. Field testing of its QSE-B1 sample cells in vehicles will begin this year, aiming to have series-production cars with its technology on the road by 2029.

The company aims to demonstrate its technology’s capabilities in real-world automotive applications, expecting an adjusted EBITDA loss between $250 million and $275 million this year. While management believes it can operate without raising capital for several years, QuantumScape remains speculative and story-driven, advised for cautious investors.

Read more at Yahoo Finance: Should You Buy QuantumScape While It’s Below $9?