QuantumScape

QuantumScape could take legal action after it was attacked in a scathing report by activist short seller Scorpion Capital.

“We are definitely going to take a look,” said Jagdeep Singh, managing director of QuantumScape, when CNBC’s Jim Cramer asked if the company would consider filing a lawsuit against the company.

“Some of the points there are simple, just absurd. Absurd to the point where there are … things that we want to take legal action on.”

Singh appeared on “Mad Money” Friday, the day after Scorpion published the short report. In the 188-page report, Scorpion accused QuantumScape, released in November through a blank check association, of acting as a “pump and dump SPAC”. It even compared the company to Theranos, the disgraced healthcare technology startup.

QuantumScape shares fell more than 12% after the information was released. The stock fell again on Friday, contributing to a 28% decline in less than two weeks.

“We don’t want to be too distracted either, but you know we feel pretty good where we are,” said Singh.

The battery company said it stood by the data it presented to investors and will continue to build a battery for its customers like Volkswagen, who recently invested an additional $ 100 million in the company.

QuantumScape argued that Scorpion was motivated to release the report because it could benefit financially from the subsequent price decline. Investors who want to make a profit on a sharp drop in prices are known as short sellers.

“We have always been fairly transparent about what we have and what work still needs to be done,” said Singh. “That’s one of the things we are honestly proud of. We believe we have been the most transparent of all solid-state battery companies.”

U.S. President Joe Biden speaks about his $ 2 trillion infrastructure plan during an event at Carpenters Pittsburgh Training Center in Pittsburgh, Pennsylvania on March 31, 2021.

Jonathan Ernst | Reuters

micron

“This is clearly important as semiconductors are the backbone of everything in business today,” said Mehrotra of Micron. “We are truly a leader in memory and storage, the only US company. We definitely look forward to the prospect of leadership in research, technology and products in the US and around the world.”

Micron is a major player in the dynamic random access memory (DRAM) and flash memory market.

With demand for consumer electronics soaring, a semiconductor shortage has been a boon for the chipmaking industry, but a negative for its end markets, particularly in automobiles. The White House infrastructure plan would provide money for semiconductor manufacturing and research in the United States

QuantumScape’s Singh welcomed Biden’s commitment to invest in electric vehicles, noting the need for greater focus on addressing the key hurdles preventing electric vehicles from competing with traditional internal combustion engines. Those hurdles include long distance travel, battery charging times and lower costs, he said.

“It is very exciting. … It is great that the government is so supportive of this electrified transition, which is vital to the regression of emissions, but we feel that government policy is ultimately not enough,” said Singh said Jim Cramer.

“You have to have a product that people want to buy and we believe that when they are more competitive with internal combustion engines, people want to buy more electric vehicles. That really is the promise of what we do.”

Hyzon Motors

Hyzon Motors is a privately held hydrogen fuel cell company based in Honeoye Falls, New York. The company, which is being acquired by a $ 3.9 billion blank check company called Decarbonization Plus Acquisition Corp, operates in the commercial vehicle market, including heavy trucks and buses.

Knight, who runs and co-founded the company, said hydrogen-powered trucks don’t get enough recognition, adding that the power source is better suited for long-haul travel.

“Hydrogen trucks are electric trucks. They are fuel cell electric trucks,” he said. “We see great potential for these types of high-utilization back-to-base operations to switch to hydrogen.”

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