[11], Last edited on 17 December 2022, at 02:53, "Bill Gates-backed vehicle battery supplier to go public through SPAC deal", "Our team is redefining the frontier of battery technology", "VW-Partner QuantumScape geht an die US-Brse", "QuantumScape's Merger With Kensington Capital Acquisition Corp Global Legal Chronicle", "QuantumScape says its technology is ready to move from the lab to VW's dealerships. Replacing this century-old technology wont happen overnight, but with the help of our automotive partners, our dedicated team of world-class scientists and engineers is working around the clock to put our breakthrough, solid-state technology on the road as soon as possible. Type Public Status Active Founded 2010 HQ Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. Qatar Investment Authority and Fidelity Management and Research Company are the most recent investors. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Much of the new space will be dedicated to manufacturing, ultimately expanding the footprint and overall capacities of its existing QS-0 and development buildings, and affords QuantumScape the necessary space to scale up manufacturing and execute on its development timeline. Let's . in Management from Stanford Graduate School of Business. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. in Management from Stanford Graduate School of Business. On average, they predict the company's stock price to reach $13.86 in the next twelve months. Prologium plans to have 2 Gigawatt hour/year plant working by 2022 and a 7 GWh/year plant working in 2023. QuantumScape, which was founded in 2010, went public via a merger with a special-purpose acquisition company, or SPAC. They will start building a pilot factory in about one year and that factory will produce 1 gigawatt-hour of batteries per year. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. QuantumScape Announces Timing of Third Quarter 2022 Financial Results and Webcast. QS-1 will follow QS-0, QuantumScapes planned pre-pilot line. A: The QuantumScape separator material is a ceramic capable of meeting the key requirements of high conductivity, stability to lithium metal, resistance to dendrite formation, and low interfacial impedance. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. Company. In February, it was still said that QuantumScape wanted to spend between 230 and 290 million US dollars (about 190 to 240 million euros) in the current year to continue the development of its solid-state battery cells and to build the QS-0 factory. For more information, please visit www.quantumscape.com. QuantumScape's cells use a solid-state separator in place of the porous separators used in conventional lithium-ion batteries. As a result of the merger, QuantumScape will receive $1 billion in financing, including funding from Volkswagen and the Qatar Investment Authority. This joint venture brings together QuantumScapes core battery technology with Volkswagens deep understanding of high-volume, high-quality production, and maximizes our ability to bring this technology into industrial production.. In February, it was still said that QuantumScape wanted to spend between 230 and 290 million US dollars (about 190 to 240 million euros) in the current year to continue the development of its solid-state battery cells and to build the QS-0 factory. Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast. Before that, she served in several HR leadership roles at Foxconn Interconnect Technology, Inc., a multinational electronics manufacturer, and NUMMI, an automotive manufacturing joint venture between Toyota and General Motors. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. Five years from now, the company expects to have a . Tesla, CATL and the other battery makers are scaling to terawatt-hours per year and continuing to drive down costs and increase energy density. Mr. Singh joined the QuantumScape Board in May 2010. The batteries may increase an electric vehicle's range notably for the same battery size. However, the goal is to make it reach a 20 GWh production scale. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. Price as of January 18, 2023, 11:16 a.m. Note, 50 USD/kWh assumes that Tesla will not improve at all between 2022 and 2028.. If batteries cost $50 per kwh in 2024 then selling all of the production at a fully ramped pilot plant would make $50 million per year. In this context, the US-Americans are aiming for another pilot plant called QS-1 with a capacity of 1 GWh, which will later be successively expanded to a total capacity of 21 GWh for series production. While one would be hard-pressed to argue that the nearly 70% premium over today's price. Despite uncertainties, if things go according to QuantumScape's plans, the company could start pilot production of its batteries in 2024. Interview with Mobilize CEO Clotilde Delbos: The car becomes a Lucid opens new retail centre in the Netherlands, Worlds largest electric ferry launches in Norway, Designwerk presents megawatt charging station, Possible battery problem with 10,000 VW ID.3 and ID.4, VW is reorganizing Quality and Design departments. Get upfront price offers on local inventory. The company will take possession of the new buildings and begin outfitting the facilities for specific purposes starting in January 2022. The factory will make early production versions of the company's advanced electric. When used in this current report, the words may, will, estimate, pro forma, expect, plan, believe, potential, predict, target, should, would, could, continue, believe, project, intend, anticipates the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. If all goes as planned, it QuantumScape expects revenue to grow gradually from $39 million in 2025 . Mr. Hettrich is QuantumScapes Chief Financial Officer. Get interesting investment ideas by Fred Lambert, ChargePoint Home WiFi Enabled Electric Vehicle (EV) Charger, Stay up to date with the latest content by, Electric Vehicle Price Guide best prices for dealers in the US, impressive data about its current battery cells, Tesla (TSLA) is seeing unprecedented demand, stores hitting new records, The worlds largest electric ferry can take you and your closest 2000 friends across the ocean, DC fast charger maker Tritium just got a huge order from BP, Schneider debuts its first eCascadia electric semi truck, Subscribe to Electrek on YouTube for exclusive videos. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. Written By Brian Wang, Nextbigfuture.com (Brian owns shares of Tesla). This should start in the second half of 2024 with the help of Volkswagen. QuantumScape hasn't disclosed the names of these two auto companies. Volkswagen says it is looking to produce car batteries with QuantumScape's technology in 2025. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for use in electric vehicles. They are aiming for the next factory, which is going to be commercial-scale with much higher capacity, to be ready to start production in 2024. SAN JOSE, Calif.- (BUSINESS WIRE)- QuantumScape Corporation (NYSE: QS) today announced QS Campus - the future hub of its upcoming manufacturing activities - after securing a new set of buildings in San Jose. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot . QuantumScape is a battery technology company founded in 2010 with the goal of developing scalable, effective solid-state batteries that can (hopefully) reach cost parity with traditional lithium . In order to avoid the worst consequences of climate change, we must electrify transportation and turn internal combustion engines into a way of the past. Thats when companies try to bury unpleasant information by releasing it at the end of the work week, when reporters are tired and readers are headed to happy hour. Battery startup QuantumScape dropped some news last week that we reporterslike to call a Friday night news dump. In all, QuantumScape could already be delivering its batteries to auto OEMs successfully three years from now. Date: May 4 Amount: $103.8 million. Chart reflects 100% of factory financials. Its proprietary solid-state battery design requires a major capital raise for. His blog Nextbigfuture.com is ranked #1 Science News Blog. One of these is a top 10 global auto manufacturer by revenue, and the other is a luxury auto company. This QuickTake adaptation of our award-winning podcast, The Pay Check, focuses on the racial wealth gap. QS Campus is a key building block of QuantumScapes multi-year strategic growth plan as it advances closer to commercializing its solid-state lithium-metal battery technology. QuantumScape has also collaborated with Fluence Energy (FLNC 2.40%) to supply batteries for use in the latter's storage products. BMW iX review: How efficient is the BMW eSUV in real life? Before that, she served in several HR leadership roles at Foxconn Interconnect Technology, Inc., a multinational electronics manufacturer, and NUMMI, an automotive manufacturing joint venture between Toyota and General Motors. Tesla dry cells and silicon anodes mean that solid-state batteries will not be able to beat advanced lithium-ion on energy density. QuantumScape Reports Third Quarter 2022 Business and Financial Results. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. entering your email below. The full-sized plant would have 2 to 4 times the capacity of the first expanded plant. We expect to secure a long-term lease for a second building with approximately two hundred thousand square feet in the second half of this year and for QS-0 to be producing cells by 2023.. and free of charge. The campus is designed to encourage more natural opportunities for employees to collaborate across departments and functions. We are thrilled to see QuantumScapes investment in our community and their commitment to bringing advanced battery development and local manufacturing jobs to North San Jose.. He is open to public speaking and advising engagements. Prior to joining the company, Ms. Fong served as the Vice President of Global Human Resources at PDF Solutions (NASDAQ: PDFS), a semiconductor SAAS company. QuantumScape, which had risen to buzzy prominence after Volkswagen Group invested more than $500 million, struck a deal in September 2020 to merge with a special purpose acquisition company,. Tesla has already spent a few years, billions on acquisitions and R&D on the new batteries and factory technology revealed at battery day. Our solid-state lithium-metal battery technology is designed to deliver efficient, reliable, safe and cost-effective energy storage to support the transition away from legacy energy sources toward a lower carbon future. It intends to accelerate the commercialization of solid-state batteries for e-mobility. The companys mission is to revolutionize energy storage to enable a sustainable future. Dr. Holme has served as QuantumScapes Chief Technology Officer since January 2011. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. As Jagdeep Singh told Sandy Munro, Volkswagen is pretty aware that the deal with QuantumScape is not exclusive. fordecision makersin the Solid-state battery maker QuantumScape has announced a plan to build a new pilot battery production factory in California. Tesla uses a dry electrode, where "dry" doesn't describe the battery but rather is a simplified manufacturing process that reduces manufacturing cost. QuantumScape And VW Are Selecting Where To Make Solid-State Cells Salzgitter is so far the location with more chances to produce these batteries. QuantumScape has been promising to present not only a solid-state platform that will work with any lithium-ion chemistry. {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. The company hopes to work alongside experienced battery scientists in the Asia-Pacific region to further develop and manufacturer it battery technologies for electric vehicles. The expanded plant would start producing in 2027. in Business Administration from U.C. QuantumScape Ships First 24-Layer Prototype Battery Cells to Automotive OEMs. EV battery startup QuantumScape starts shipping prototype to automakers, a key milestone, CNBC, Battery Insiders Reflection Batteries, Data & Solid-State, Battery Associates, How VW Can Leap Over Tesla: QuantumScape CEO Interview, E For Electric, SAE Tomorrow Today, Transforming EV Batteries with Solid-State Energy, The New York Times, Advanced E.V. Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. /a > QuantumScape - Resources - Press Business Outlook Data presented vehicles to outperform internal combustion cars located in Jos., QuantumScape, it reflects investors ' flat storage boxes for under bed menu menu The solid-state battery specialist and Volkswagen partner QuantumScape has announced in the context of the announcement of its business figures that it will build a pilot plant in San Jos, California. QuantumScape was founded in 2010 by Jagdeep Singh, Tim Holme and Professor Fritz Prinz of Stanford University. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. QuantumScape is registered under the ticker NYSE:QS . Berkeley and a M.S. For decades, it was claimed that silicon was "running out of speed" and that a switch to GaAs was about to happen in a few years. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. 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Initially, it will have a 1 GWh production capacity. In its Q2 2022 Shareholder Letter, the company did not even touch on the subject . Even before the news, the stock has been on an upward trend since the middle of March. Tried the pastor, carnitas and steak tacos. These samples are nearly full-size prototypes that will allow the automakers to test and begin . QuantumScape was founded in 2010. That would prevent it's use as a structural battery due to size changes. The company expects to produce cells for use in test cars in 2023. (adsbygoogle = window.adsbygoogle || []).push({}); Solid-state battery specialist QuantumScape plans to issue 13 million new shares. Mr. Hettrich has served as QuantumScapes Chief Financial Officer and head of Business Operations since September 2018. To fulfill the strong inbound interest in its technology, the company also recently announced it was doubling the initial QS-0 capacity to over 200,000 cells annually, enough for hundreds of test vehicles each year. The company is on a mission to revolutionize energy storage to enable a sustainable future. The expected proceeds of $859 million are to be invested in the companys planned pilot plant and in the joint venture with Volkswagen. EV battery startup QuantumScape has leased a massive production site in San Jose, hinting at the company's intent to bring its "groundbreaking" solid . Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. ET. in Environment and Resources from Stanford University. Learn More. Prior to joining the company, Ms. Fong served as the Vice President of Global Human Resources at PDF Solutions (NASDAQ: PDFS), a semiconductor SAAS company. Invest better with The Motley Fool. [9][10] The battery was claimed to offer an energy density of 1kWh/L or 380-500 Wh/kg. SAN JOSE, Calif.(BUSINESS WIRE) QuantumScape Corporation, (NYSE: QS, or QuantumScape) today announced that it has entered into an agreement with Volkswagen Group of America, Inc. to select the location of their joint-venture solid-state battery pilot-line facility by the end of 2021. Their stock opened with $23.50 in its Nov 27, 2020 IPO. electric mobilityindustry. Both cells start to work after lithium plating that happens between the ceramic separator and a metal foil - which QuantumScape names as "anode electrical contact - the first time they are. It an investment of 200 million euros from Volkswagen, performance data of prototype cells for the first time in December 2020, FC specialist Loop Energy launches cooperation in Germany, Twaice improves development with battery model library, Outlook: These electric cars are coming in 2023, 2022 in review: Rediscover the most popular articles in each month. An expansion of capacity by more than double would thus lead to an output of more than 200,000 samples. This helps increase the volumetric density of the cell. QuantumScape said it has begun shipping "A0" samples of its battery cells to its automaker clients. [3][4] In 2012, QuantumScape began working with German automaker Volkswagen. Salzgitter will be where the German carmaker will have its first 40 GWh gigafactory in Europe. The Technology Drive location, which totals 87,100. The company's next-generation batteries are designed to enable longer range, faster charging and enhanced safety in electric vehicles to support the transition away from legacy energy sources toward a lower carbon future. QuantumScape (NYSE: QS), a startup that is working on solid-state lithium metal batteries for electric vehicles, has seen its stock price decline by close to 9% over the last week (five trading . The deal should result in a valuation of $3.3 billion and leave Quantumscape with over $1 billion to fund its factory and plans. QuantumScape (NYSE: QS), a startup that is developing solid-state lithium metal batteries for electric vehicles, has seen its stock price decline by close to 45% year-to-date and by about 80% from . The Tesla and Panasonic veteran was a key hire when she joined QuantumScape to help bring battery innovations from the lab to the factory floor. After testing and validating QuantumScape's cells, these companies intend to use them in their vehicles. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology. Latest updates QuantumScape was founded in 2010 to create a battery that doesn't make compromises and after a decade of hard work, we've built a technology that enables the fast charging, long-lasting and safer batteries required to power zero-emissions transportation. The solid electrolyte allows us to use lithium-metal for the anode, which is the lightest metal on the planet and nearly 10 times more energy dense than whats used in todays batteries. In the last quarter of 2020, QuantumScape briefly surpassed the valuation of Ford Motor Co. without having any commercial product and with zero revenue. The Wolfsburg company will then have the right to become the first customer for the new batteries based on solid-state technology. Being an investor in the startup, the German automaker will also benefit from any success it has with its competitors. It's a bad sign for the company backed by Volkswagen. Now that the Tesla batteries are the size of a very small can of softdrink, you can easily compare it to that volume of softdrink. If things go as per QuantumScape's plans, the company will have a huge market for its cells. "Tesla dry cells and silicon anodes mean that solid-state batteries will not be able to beat advanced lithium-ion on energy density.". newsletter is published every The company is headquartered in San Jose, California and employs around 400 people. QuantumScape Corporation (NYSE:QS) today announced it has shipped its first 24-layer prototype lithium-metal battery cells to automotive OEMs for testing. Home Energy Quantumscape Plans 1 Gigawatt Hour Battery Plant in 2024. It also stated that it would have a proprietary format that would have to . Lithium-ion batteries are at the heart of the next transportation revolution, but in the technologys current form, they fall short of meeting the needs of drivers in key areas like battery life, charging speed and cost. The companies currently contemplate Salzgitter, Germany for the location. According to the Californian company, the cells tested were single-layer pouch cells with thick cathodes (>3mAh/cm2), which are analogous to the cathodes of conventional batteries. Dr. Holme holds a B.S. A123 Systems, a developer and manufacturer of advanced Nanophosphate lithium-ion batteries and systems, on September 13 announced the grand opening of the largest lithium-ion automotive battery production facility in North America, based on available data. Called QS-0, it will help the company accelerate the development of its solid-state batteries and deliver up to 100,000 engineering cell samples from 2023 on. Specifically, QuantumScape intends to use the funds from the share issue (equivalent to around 728 million euros) to more than double the capacities of the QS-0 pilot plant in San Jos, California, which was announced in February. The Tesla 2170 cell has 680 Wh/L capacity now and Tesla Battery Day talk indicated they will improve battery costs and the energy density with anode and cathode improvements. For more information, please visit www.quantumscape.com . a wide range of relevant stories and QuantumScapes new facilities will also house additional research and development and office space to accommodate hundreds of new employees. The pilot line will be based in San Jose and will be called QS0. Berkeley and a M.S. The transaction was completed in November 2020 and raised capital for the series production of batteries. Ms. Fong holds a B.S. For more information, please visit www.quantumscape.com. With reporting by Cora Werwitzke, France. Berkeley and a M.S. . Tesla has made its new batteries into a structural slab on the base of the car. And there will be another electric bus factory, as well," Thuy said. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Source: QuantumScape via Green Car Congress. And the ceramic separator is non-flammable and noncombustible, making our batteries safer than conventional lithium-ion batteries. QuantumScape is funded by 10 investors. Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. Live from New York and London, analyzing the major market moving stories across the day in Europe, hear from the biggest newsmakers and showcase the unrivaled expertise of Bloomberg News. By Matt - Published on April 16, 2021. Made in Germany! Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. Additional information concerning these and other factors that could materially affect QuantumScapes actual results can be found in QuantumScapes periodic filings with the SEC. Our mail-out and online service cover A full-sized plant would also be built and start production in 2027. They also announced a plan to bring the product to volume production in partnership with Volkswagen by 2024. A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. Expansion to three new facilities to scale advanced manufacturing capabilities. Please contact the developer of this form processor to improve this message. In addition, the solid-state battery is said to be extremely fireproof and to function on a broad temperature continuum without a major drop in performance even in cold temperatures as low as minus 30 degrees. in Mechanical Engineering, and a Ph.D. in Mechanical Engineering from Stanford University. The company plans to continue aggressive hiring of world-class talent through 2022 and beyond. Told Sandy Munro, Volkswagen is pretty aware that the deal with quantumscape & x27... Encourage more natural opportunities for employees to collaborate across departments and functions 50 USD/kWh assumes that will... Companies intend to expand production capacity by more than 200,000 samples for its cells expressed any. 1-Gigawatt hour ( GWh ) battery cell commercial production plant for electric vehicles subscribe. Samples are nearly full-size prototypes that will work with any lithium-ion chemistry location with more chances to produce these.. 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