TLDR
- QuantumScape’s Cobra separator process has entered baseline production, marking a key milestone in scaling production capabilities
- Cobra platform offers 25 times faster heat treatment speed and requires less physical space than the previous Raptor process
- The new technology forms the foundation of QuantumScape’s high-throughput, continuous-flow separator production platform
- QuantumScape stock surged over 31% in extended trading following the announcement
- Company expects to continue improving production speed, efficiency and scalability with Cobra as the new baseline
QuantumScape Corporation shares jumped over 31% in after-hours trading Tuesday following news that the company’s Cobra separator process has entered baseline production. The solid-state battery developer called this a major milestone in scaling its production capabilities.
The Cobra platform represents a leap forward in ceramic separator manufacturing technology. It delivers approximately 25 times faster heat treatment speed compared to QuantumScape’s previous Raptor process while requiring less physical space.
“Our team has made impressive strides in advancing Cobra, a technology that exemplifies our progress in scaling solid-state battery production,” said Dr. Siva Sivaram, QuantumScape CEO. The advancement comes as the company prepares for higher-volume B1 sample production.
Tim Holme, QuantumScape co-founder and CTO, described Cobra as “a step-change innovation in ceramic processing.” He emphasized that it delivers “a major improvement in productivity compared to Raptor.”
Proudly announcing a big technical milestone for the year: we've successfully integrated our Cobra separator process into baseline production operations. Cobra has a ~25x improvement in speed & occupies a fraction of the physical space of Raptor. https://t.co/lDa5LFHQbE
— QuantumScape (@QuantumScapeCo) June 24, 2025
The new technology forms the foundation of QuantumScape’s high-throughput, continuous-flow separator production platform. This system is designed to enable faster and more energy-efficient production with a smaller equipment footprint.
QuantumScape operates in the solid-state lithium-metal battery space. The company has been working to commercialize its next-generation battery technology for automotive and other applications.
Production Scaling Progress
With Cobra now established as the new baseline production process, QuantumScape plans to continue improving production metrics. The company expects further enhancements in speed, efficiency and scalability as it introduces future iterations of the Cobra process.
The solid-state battery developer said this advancement is key to bringing its battery platform to market on a gigawatt scale. QuantumScape maintains a market capitalization of $2.4 billion and holds $860.3 million in cash reserves.
The company reported Q1 2025 results that aligned with market expectations. It posted an earnings per share of -$0.21 and a net loss of $114.4 million while maintaining strong liquidity.
QuantumScape has provided full-year guidance projecting capital expenditures between $45 million and $75 million. The company expects an adjusted EBITDA loss of $250 million to $280 million for the year.
Strategic Partnerships and Future Plans
The company maintains collaborations with PowerCo/Volkswagen and has a framework agreement with Murata Manufacturing for ceramics production. These partnerships support QuantumScape’s strategy to scale its technology through strategic alliances.
QuantumScape aims to begin field testing its launch program in 2026. The company is also exploring applications beyond the automotive industry as it prepares to commercialize its solid-state battery technology.
The company recently held its 2025 Annual Meeting of Stockholders where shareholders approved key governance matters. This included the election of ten directors and ratification of Ernst & Young LLP as the independent registered public accounting firm.
Shareholders also approved the compensation of named executive officers on a non-binding advisory basis. The company has been shipping QSC5 battery samples for testing as part of its ongoing development efforts.
QuantumScape’s stock shows high volatility with a beta of 4.27, reflecting market sensitivity to technological developments. The company maintains a healthy current ratio of 16.66, indicating robust short-term financial stability.
The Cobra separator process integration represents QuantumScape’s latest step toward commercial-scale solid-state battery production. The company expects production metrics to improve further as it introduces future iterations of the Cobra process for higher-volume B1 sample production.
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