QuantumScape is the poster child stock of EV mania: Wedbush's Dan Ives

QuantumScape, a California battery start-up, is taking the electric vehicle craze to a whole new level. Since going public about a month ago, the company's stock has already soared more than 300 percent. Dan Ives, managing director at Wedbush Securities, joins "Squawk Box" to discuss why he thinks QuantumScape is the poster child stock for the current EV mania trend.