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Tesla’s sales have faced significant challenges, with a 13% year-over-year decline in Q1 and 13.4% in Q2 of 2025, driven by a surge in competition and a decrease in demand. Notably, in October 2025, Tesla reported its lowest monthly sales in China in three years, selling only 26,006 vehicles. In Europe, sales dropped sharply—89% in Sweden, 86% in Denmark, and 50% in Norway—due to a limited model lineup and increased competition.
In contrast, QuantumScape has made progress in solid-state battery technology, achieving a breakthrough with its Cobra manufacturing process that is 25 times faster than previous methods. In Q3 2025, QuantumScape recorded its first $12.8 million in customer billings and showcased its QSE-5 batteries, which feature an energy density of 844 Wh/L and ultra-fast charging capabilities. This growth is bolstered by partnerships with major automakers like Volkswagen and others.
Year to date, QuantumScape shares have surged over 210%, while Tesla’s shares have gained just 10%. Analysts project QuantumScape’s bottom line to improve by 21.3% and 12.6% in 2025 and 2026, respectively, while Tesla’s EPS is expected to decline by 32% in 2025 before anticipated growth of around 50% in 2026.
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