But while the capacity is limited, it will provide cells for development work and help design next-gen manufacturing equipment: QS-0 will help provide the additional capacity we need for our development work and will enable usto accelerate work on the next-generation of manufacturing tools. More Financials. /a > QuantumScape - Resources - Press Business Outlook Data presented vehicles to outperform internal combustion cars located in Jos., QuantumScape, it reflects investors ' 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.. in Computer Science from Stanford University. Prologium admits that they are currently more expensive than lithium-ion but hope to get to lithium-ion battery costs in 2023 with the 7GWh/year plant. Quantumscape believes they can get battery energy density to 500 Wh/kg and a battery cost reduction of 17%. Let's . 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. They also announced a plan to bring the product to volume production in partnership with Volkswagen by 2024. QuantumScape (QS -1.45%) stock rose recently on the rumors of a potential partnership with Porsche. The future is solid. QuantumScape Ships First 24-Layer Prototype Battery Cells to Automotive OEMs. Quantumscape plans to go public with a SPAC deal before the end of the year. The company is on a mission to revolutionize energy storage to enable a sustainable future. The campus is designed to encourage more natural opportunities for employees to collaborate across departments and functions. Despite uncertainties, if things go according to QuantumScape's plans, the company could start pilot production of its batteries in 2024. In 2025, Prologium plans to reach 900 Wh/L batteries. Buzz Pro review: Is it enough to become iconic, again? Tesla is on the fourth iteration of Maxwell Technology drycell production processes and they are iterating every 3-4 months. In 2018, Volkswagen invested $100 million in the company, becoming the largest shareholder. Includes costs for planning, FAT / SAT, and start-up; excludes maintenance capex and interest expense. QuantumScapes new facilities will also house additional research and development and office space to accommodate hundreds of new employees. Made in Germany! As QuantumScape embarked on the search for a solid electrolyte, Singh and Holme went back to the drawing board. This new campus provides us with an opportunity to continue our ground-breaking innovation while laying the foundation for scaling up those innovations into production.. from Vanderbilt University Law School. in Management from Stanford Graduate School of Business. This article contains forward-looking statements within the meaning of the federal securities laws and information based on managements current expectations as of the date of this current report. Five years from now, the company expects to have a . The companies currently contemplate Salzgitter, Germany for the location. Additional information concerning these and other factors that could materially affect QuantumScapes actual results can be found in QuantumScapes periodic filings with the SEC. tetra colorfusion led light outdoor extension cord reel Every cigar tells a story. The company is on a mission to revolutionize energy storage to enable a sustainable future. Even before the news, the stock has been on an upward trend since the middle of March. In the same year, Volkswagen and QuantumScape announced the establishment of a joint production project to prepare for mass production of solid state batteries. Even though the server responded OK, it is possible the submission was not processed. 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. The companys mission is to revolutionize energy storage to enable a sustainable future. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. Berkeley and a M.S. Type Public Status Active Founded 2010 HQ They would then expand the plant for 20 GWh/year plant. Come join us on our mission as we revolutionize energy storage to enable a sustainable future. 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. But this secretive startup is very familiar with failure", "QuantumScape Falls on Scorpion Capital Short Report", "Here we are, here is the battery that lasts as long as a full tank of petrol, and will change the world", "A Revolutionary Solid-State Battery Is Nearly Here, Scientists Say", "First commercially viable lithium metal battery solid state charges in just 15 minutes", https://en.wikipedia.org/w/index.php?title=QuantumScape&oldid=1127867655, This page was last edited on 17 December 2022, at 02:53. Transportation is one of the top contributors to global greenhouse gas emissions, but todays EVs lack the performance, safety and cost required for mass-market adoption of zero emissions vehicles. 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. Alongside this, the developer promises a remaining battery capacity of more than 80 per cent after 800 cycles, which means that hundreds of thousands of kilometres can be covered. In its Q2 2022 Shareholder Letter, the company did not even touch on the subject . The deal should result in a valuation of $3.3 billion and leave Quantumscape with over $1 billion to fund its factory and plans. The company now needs to develop multilayered cells with commercial dimensions while adding several more layers. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh . The solid-state battery specialist also plans to invest part of the proceeds in its joint venture with Volkswagen. The plant, called QS-0, will be able to produce more than 100,000 samples of solid-state cells per year, the announcement said. The companies plan to begin a joint pilot program by 2023. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. [5], On September 3, 2020, QuantumScape announced a merger with the special-purpose acquisition company Kensington Capital Acquisition. All statements other than statements of historical fact contained in this article, including statements regarding the future development of QuantumScapes battery technology, the anticipated benefits of QuantumScapes technologies and the performance of its batteries, and plans and objectives for future operations, are forward-looking statements. His blog Nextbigfuture.com is ranked #1 Science News Blog. About 200 mL if I recall correctly. Their QS share price forecasts range from $4.00 to $27.00. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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. After testing and validating QuantumScape's cells, these companies intend to use them in their vehicles. 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.. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. every workday since 2013. ChatGPT Sounds Exactly Like Us. and free of charge. The solid-state batteries that QuantumScape is researching could change the EV landscape considerably. 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 Companys batteries are designed to enable longer range . [1] Investors include Bill Gates and Volkswagen.[2]. QuantumScape has a post-money valuation in the range of $1B to $10B as of Jun 17, 2020 . In connection with the joint venture, there is also talk of a second pilot plant. May 17, 2021 at 8:31am ET By: Gustavo Henrique. 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. This will involve selling the vehicles in North America rather than exporting them. All statements other than statements of historical fact contained in this article, including statements regarding the future development of QuantumScapes battery technology, the anticipated benefits of QuantumScapes technologies and the performance of its batteries, and plans and objectives for future operations, are forward-looking statements. Mr. McCarthy currently serves as a member of the boards of several privately-held companies. 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. 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. [2] In June 2020, Volkswagen made an additional $200 million investment into the company. It released on May 14 that it is in the process of selecting where it will produce with Volkswagen. The published results with single-layer pouch cells suggest that QuantumScapes battery can be quickly charged to 80 per cent capacity in 15 minutes. At 2028, Tesla will be at one or two TWh per year and with costs below 50 USD/kWh. The new campus comprises the current site of QS-0, QuantumScapes pre-pilot production line, and the adjacent three new buildings. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. The company has confirmed 10-year lease agreements for the three new buildings of QS Campus. New battery technology needs to be able to reach $10 per kwh and scale to terawatt-hours per year by 2030 to displace lithium-ion with silicon anodes. Find one worth sharing. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. QuantumScape has been promising to present not only a solid-state platform that will work with any lithium-ion chemistry. QuantumScape Corp (NYSE: QS) has secured a new set of buildings in San Jose for its future manufacturing hub, QS Campus. The plant will have a limited capacity of 100,000 cells per year: QS-0 is intended to have a continuous flow, high automation line capable of building over 100,000 engineering cell samples per year. The new plant in Livonia, Mich. is expected to expand A123's manufacturing capabilities . (adsbygoogle = window.adsbygoogle || []).push({}); Solid-state battery specialist QuantumScape plans to issue 13 million new shares. QuantumScape hasn't disclosed the names of these two auto companies. QuantumScape is on a mission to transform energy storage. Mr. Singh joined the QuantumScape Board in May 2010. These forward-looking statements are based on managements current expectations, assumptions, hopes, beliefs, intentions, and strategies regarding future events and are based on currently available information as to the outcome and timing of future events. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. entering your email below. The Wolfsburg-based company now owns a third of the California-based company. The solid-state battery startup expects to be able to produce 200,000 cells. The expected proceeds of $859 million are to be invested in the companys planned pilot plant and in the joint venture with Volkswagen. Learn More{{/message}}, Quantumscape Plans 1 Gigawatt Hour Battery Plant in 2024. QS-1 will follow QS-0, QuantumScapes planned pre-pilot line. Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. The luxury auto company could possibly be Porsche. Its proprietary solid-state battery design requires a major capital raise for. Many of these factors are outside QuantumScapes control and are difficult to predict. The expanded plant would start producing in 2027. The pilot-line facility, QS-1, will initially be a 1-gigawatt . Both companies currently have a preference for Salzgitter, a city that was mentioned more than one at Volkswagen Power Day. QuantumScape Publishes Inaugural Environmental, Social and Governance Report . Finally a legit, authentic taco restaurant in Canton. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for use in electric vehicles. 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. across Europe and beyond. The deal should result in a valuation of $3.3 billion and leave Quantumscape with over $1 billion to fund its factory and plans. The companies currently contemplate Salzgitter, Germany for the location. Today, the company announced a plan for a new pilot production factory ahead of the main factory: To help with further scale-up and based on this recent progress we are pleased to announce we have decided to build a pre-pilot line facility in San Jose, which we call QS-0.. It does NOT increase energy density. Our technology creates the lithium anode in situ during the first charge, an innovation that dramatically simplifies battery design and makes it fundamentally cheaper to manufacture. [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. VW ID. 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. Prior to joining QuantumScape, he was the Chief Administrative Officer at Infinera Corporation from April 2003 to March 2013. What's the relationship between wh/L and wh/kg in batteries? In concrete terms, the latter should be possible in San Jos from 2023. 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. [8], On June 26, 2022, the Company announced the production of a solid-state battery with a range of 650km and a charge time of 15 minutes. QuantumScape (NASDAQ:QS) stock is sitting in a sort of middle ground in terms of its evolution. 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. 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. Its stock soared 49% in its first day of trading in November 2020 and had. QuantumScape has also collaborated with Fluence Energy (FLNC 2.40%) to supply batteries for use in the latter's storage products. How cost reduction of 17% will bring batteries cost $50 per kwh in 2024 would and then will allow them to make about $70/kwh from the batteries. However, the goal is to make it reach a 20 GWh production scale. Our innovative battery cell technology can store energy more efficiently and reliably than todays lithium-ion batteries. 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The companys 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. Anthony P. Plymouth Township, MI. The recycling plant could source raw materials to the solid-state cell plant in a much easier way. The lab at QuantumScape in San Jose, Calif., on Feb. 4, 2021. Please support local businesses. fordecision makersin the The Company is focused on the development and commercialization of its solid-state lithium-metal batteries. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. in Computer Science from the University of Maryland College Park, an M.B.A. from the University of California, Berkeley, Haas School of Business, and a M.S. QuantumScape developed the industrys first anode-less cell design, which delivers high energy density while lowering material costs and simplifying manufacturing. QuantumScape was founded in 2010 to create a battery that doesnt make compromises and after a decade of hard work, weve built a technology that enables the fast charging, long-lasting and safer batteries required to power zero-emissions transportation. Expansion to three new facilities to scale advanced manufacturing capabilities. The departure of its top manufacturing expert is bad news for the battery startup backed by Volkswagen. QuantumScape was founded in 2010 by Jagdeep Singh, Tim Holme and Professor Fritz Prinz of Stanford University. 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. Fred is the Editor in Chief and Main Writer at Electrek. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. in Business Administration from U.C. Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast. 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. With reporting by Cora Werwitzke, France. Dr. Holme has served as QuantumScapes Chief Technology Officer since January 2011. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. Through Zalkon.com, you can check out Freds portfolio and get monthly green stock investment ideas. 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. BMW iX review: How efficient is the BMW eSUV in real life? As a. in Business Administration from U.C. QuantumScape has been based in San Jose since its founding in 2010. 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. Battery startup QuantumScape dropped some news last week that we reporterslike to call a Friday night news dump. Tesla uses a dry electrode, where "dry" doesn't describe the battery but rather is a simplified manufacturing process that reduces manufacturing cost. Cost basis and return based on previous market day close. The new research and manufacturing site is dramatically larger than QuantumScape's current headquarters at 1730 Technology Drive in San Jose. In concrete terms, the latter should be possible in San Jos from 2023. QuantumScape (QS 9.07%) stock rose recently on the rumors of a potential partnership with Porsche. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. insideevs.com,electrek.co,techcrunch.com,ir.quantumscape.com,sec.report. ADVERTISEMENT A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. QuantumScape Corporation is engaged in developing battery technology for electric vehicles (EVs) and other applications. flat storage boxes for under bed menu menu For more information, please visit www.quantumscape.com . Tesla, CATL and the other battery makers are scaling to terawatt-hours per year and continuing to drive down costs and increase energy density. This will not happen. QuantumScape ( NYSE: QS) has fallen pretty far from its high of over $130 per share back in late December. Many of these factors are outside QuantumScapes control and are difficult to predict. Mr. Singh is QuantumScapes Chief Executive Officer and Chairman of the Board of Directors. The short story is that they claim to have solved the solid-state battery problem. The core of the QuantumScape technology is a ceramic separator, which is supposed to remedy exactly this. Making the world smarter, happier, and richer. 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. QuantumScape completed its 2021 milestones as planned. in Management from Stanford Graduate School of Business. Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. 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. QuantumScape was founded in 2010. The industry-facing website During the presentation of the test results, company boss Jagdeep Singh said that further development work will consist of converting the single-layer cells into multi-layer cells and then preparing them for mass production. Volkswagen says it is looking to produce car batteries with QuantumScape's technology in 2025. QuantumScape may have suffered a blow recently after it lost its chief manufacturing officer, Celina Mikolajczak. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. QuantumScape, so far, has collaborations with four key customers -- three automotive and one stationary energy-storage product manufacturer. 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. Expressed in any forward-looking statements involve significant risks and uncertainties that could materially affect QuantumScapes actual results to materially... Through Zalkon.com, you can check out Freds portfolio and get monthly green investment! Million are to be invested in the joint venture with Volkswagen. 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