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. QuantumScape has been based in San Jose since its founding in 2010. [2] In June 2020, Volkswagen made an additional $200 million investment into the company. QuantumScape is an American company that develops solid state lithium metal batteries for electric cars. The batteries may increase an electric vehicle's range notably for the same battery size. Prior to joining QuantumScape, he was a Research Associate at Stanford University from June 2008 to January 2011. "Tesla dry cells and silicon anodes mean that solid-state batteries will not be able to beat advanced lithium-ion on energy density.". The luxury auto company could possibly be Porsche. The joint venture between QuantumScape and Volkswagen will be called QS-1. QuantumScape developed the industrys first anode-less cell design, which delivers high energy density while lowering material costs and simplifying manufacturing. Through Zalkon.com, you can check out Freds portfolio and get monthly green stock investment ideas. Tesla is refining the production processes for new batteries and the new batteries have been produced in the tens of thousands. Prologium plans to have 2 Gigawatt hour/year plant working by 2022 and a 7 GWh/year plant working in 2023. 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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. Our innovative battery cell technology can store energy more efficiently and reliably than todays lithium-ion batteries. 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. To make the world smarter, happier, and richer. Berkeley and a M.S. The company is on a mission to revolutionize energy storage to enable a sustainable future. Dr. Holme is QuantumScapes Chief Technology Officer. 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. Incidentally, QuantumScape does not mention the new information on the pilot plants named QS-0 and QS-1 in its press release on the share issue; it is hidden in a long stock exchange notice, the SEC Report. 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. Free-Float. Transportation is one of the top contributors to global greenhouse gas emissions, buttodays EVs lack the performance, safety and cost required for mass-market adoption of zero emissions vehicles. You are buying everything these startups are telling you. ChatGPT Sounds Exactly Like Us. newsletter is published every QuantumScape is an American company that develops solid state lithium metal batteries for electric cars. Find one worth sharing. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. In February 2021, QuantumScape announced a plan for a new pilot production factory ahead of the main factory. Come join us on our mission as we revolutionize energy storage to enable a sustainable future. More. QuantumScape made the plans for a pilot plant in San Jos public a few weeks ago when it announced its financial results. Although the company is building out its first factory in California, with production likely to start around 2024, meaningful sales are only likely in around four or five years, over which a lot. 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. Until now, the low cycle stability has been considered a major weakness of solid-state batteries. Rekha Khandelwal has no position in any of the stocks mentioned. QuantumScape Corp. plans to lease 200,000 square feet of space in San Jose for a new manufacturing facility. Since 2012, the company has been working with Volkswagen, which has invested $300 million in the project as QuantumScape meets key performance metrics for solid state batteries. QuantumScape's cells use a solid-state separator in place of the porous separators used in conventional lithium-ion batteries. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot . in Management from Stanford Graduate School of Business. 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. What's the relationship between wh/L and wh/kg in batteries? Mr. Singh is QuantumScapes Chief Executive Officer and Chairman of the Board of Directors. This is formed from pure lithium metal as soon as the battery is charged. The expanded plant would start producing in 2027. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. His blog Nextbigfuture.com is ranked #1 Science News Blog. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. 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. Ms. Fong holds a B.S. If things go as per QuantumScape's plans, the company will have a huge market for its cells. 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.. QS-0 will be located in "a second. Tesla uses a dry electrode, where "dry" doesn't describe the battery but rather is a simplified manufacturing process that reduces manufacturing cost. 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 . builds on the email briefing we publish The departure of its top manufacturing expert is bad news for the battery startup backed by Volkswagen. The Wolfsburg company will then have the right to become the first customer for the new batteries based on solid-state technology. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Buzz Pro review: Is it enough to become iconic, again? Mr. Hettrich holds a B.A. The companies currently contemplate Salzgitter, Germany for the location. Learn More{{/message}}, Quantumscape Plans 1 Gigawatt Hour Battery Plant in 2024. Called QS-0, the plant is expected to be capable of producing over 100,000 units of solid-state cells per year. The solid-state batteries that QuantumScape is researching could change the EV landscape considerably. 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. Mr. McCarthy has served as QuantumScapes Chief Legal Officer and Head of Corporate Development since March 2013. Its stock soared 49% in its first day of trading in November 2020 and had. Quantum scape expects to get 70 USD/kWh in 2028. {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. Being an investor in the startup, the German automaker will also benefit from any success it has with its competitors. ADVERTISEMENT Its goal is not to be a manufacturing marvel but rather to supply engineering cells for prototypes. QuantumScape Corp (NYSE: QS) has secured a new set of buildings in San Jose for its future manufacturing hub, QS Campus. The companies currently contemplate Salzgitter, Germany for the location. Qatar Investment Authority and Fidelity Management and Research Company are the most recent investors. 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. Their stock opened with $23.50 in its Nov 27, 2020 IPO. Thanks to private funding from Volkswagen and a recent SPAC deal to go public (NYSE: QS), they have plenty of cash to finance this investment. in Business Administration from U.C. However, the industry has several challenges to overcome in order to make solid-state viable, and QuantumScape claims to have solved them all. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh . in Management from Stanford Graduate School of Business. The published results with single-layer pouch cells suggest that QuantumScapes battery can be quickly charged to 80 per cent capacity in 15 minutes. Tesla is on the fourth iteration of Maxwell Technology drycell production processes and they are iterating every 3-4 months. entering your email below. Learn More. 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. Pouch form factor batteries cannot be made into structural parts of the body of the car. 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. 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. QuantumScape is on a mission to transform energy storage. In concrete terms, the latter should be possible in San Jos from 2023. QuantumScape has a post-money valuation in the range of $1B to $10B as of Jun 17, 2020 . In 2018, Volkswagen invested $100 million in the company, becoming the largest shareholder. VW ID. every workday since 2013. Many of these factors are outside QuantumScapes control and are difficult to predict. In its Q1 Shareholder Letter, QuantumScape highlighted progress on that front as well, securing a facility in San Jose to house the QS-0 line. The final cells used in vehicles may need several dozen layers in each battery pack. Tesla has already spent a few years, billions on acquisitions and R&D on the new batteries and factory technology revealed at battery day. Heres QuantumScape Q4 2020 shareholder letter for all the details: [scribd id=494805848 key=key-8c6c3fDY9zSZljWZMpfd mode=scroll]. 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. In the last quarter of 2020, QuantumScape briefly surpassed the valuation of Ford Motor Co. without having any commercial product and with zero revenue. Even if they execute flawlessly, they will have too little capacity to matter and the prices will be too high. Despite uncertainties, if things go according to QuantumScape's plans, the company could start pilot production of its batteries in 2024. That would prevent it's use as a structural battery due to size changes. Do you want to help build one of the most critical parts of the future energy economy? Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. Delivery of these cells, referred to as A0 samples, was the company's key public milestone for the year, and achieving this goal represents an important step toward the commercialization of this technology. Dr. Holme has served as QuantumScapes Chief Technology Officer since January 2011. This will not happen. 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. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. About 200 mL if I recall correctly. After testing and validating QuantumScape's cells, these companies intend to use them in their vehicles. Invest better with The Motley Fool. May 17, 2021 at 8:31am ET By: Gustavo Henrique. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. QuantumScape has been promising to present not only a solid-state platform that will work with any lithium-ion chemistry. 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. 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. In March, QuantumScape announced an additional $100 million in funding from Volkswagen after Volkswagen confirmed through tests at its labs in Germany that QuantumScape cells met the established technical milestone. The core of the QuantumScape technology is a ceramic separator, which is supposed to remedy exactly this. Berkeley and a M.S. And there will be another electric bus factory, as well," Thuy said. 5 min read. QuantumScape is on a mission to transform energy storage with solid-state lithium-metal battery technology. 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. As we shift into the next phase of our growth trajectory, developing advanced manufacturing capabilities becomes more critical. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. Tried the pastor, carnitas and steak tacos. 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 Motley Fool has a disclosure policy. 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 . QuantumScape, which was founded in 2010, went public via a merger with a special-purpose acquisition company, or SPAC. Anthony P. Plymouth Township, MI. "We are planning to build a factory that can manufacture about 250,000 vehicles per year, and a Gigafactory to manufacture battery cells and the pack. These are the key requirements to make a lithium-metal anode, which in turn enables high energy density, fast charge, and long life. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. QuantumScape's batteries may increase electric vehicles' range considerably for the same battery size. Mr. Singh holds a B.S. Made in Germany! Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. Mr. Hettrich also served as a Business Analyst at McKinsey & Company, a management consulting firm, from September 2004 to July 2007. Prior to joining QuantumScape, he was the Chief Administrative Officer at Infinera Corporation from April 2003 to March 2013. Microsoft to Cut Engineering Jobs This Week as Layoffs Go Deeper, Apple Delays AR Glasses, Plans Cheaper Mixed-Reality Headset, Stocks Turn Lower as Growth in Focus; Dow Falls: Markets Wrap, Saudi Arabia Says Open to Settling Trade in Other Currencies, Amazon Kicks Off Round of Job Cuts Affecting 18,000 People. Canadas Population at 38 Million and Adding 4 Million Immigrants from Now to 2030, How to Keep Your Cryptocurrencies Safe in 2020. Its solid-state battery cell technology has an energy density, enhanced safety, fast charging capability, and small size. Additional information concerning these and other factors that could materially affect QuantumScapes actual results can be found in QuantumScapes periodic filings with the SEC. Their QS share price forecasts range from $4.00 to $27.00. Ms. Fong holds a B.S. Here's Why QuantumScape Shares Soared This Morning, Why QuantumScape Stock Lost Its Charge This Week, Why QuantumScape Stock Plunged to All-Time Lows Today, 3 Reasons Tesla Stock Is a No-Brainer Buy in 2023, Social Security: 4 Big Changes Washington Wants to Make, Warren Buffett Is Raking in $4.84 Billion in Annual Dividend Income From These 6 Stocks, Better Buy in 2023: Apple Stock vs. Amazon Stock, Join Nearly 1 Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, Copyright, Trademark and Patent Information. 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. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology. This prime location in San Jose in the heart of Silicon Valley, near world-renowned universities and research institutions offers access to a rich pool of talent for the company to build out its team. The new research and manufacturing site is dramatically larger than QuantumScape's current headquarters at 1730 Technology Drive in San Jose. [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. As the chart above shows, QuantumScape expects its solid-state cells to be far more energy-dense than the conventional lithium-ion cells with silicon or carbon anode. 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. Company. Mr. McCarthy currently serves as a member of the boards of several privately-held companies. 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. QuantumScape expects to produce cells for use in test cars in 2023 and start commercial production in 2024. QuantumScape Corporation (NYSE:QS) today announced it has shipped its first 24-layer prototype lithium-metal battery cells to automotive OEMs for testing. As a result of the merger, QuantumScape will receive $1 billion in financing, including funding from Volkswagen and the Qatar Investment Authority. Quantumscape plans to go public with a SPAC deal before the end of the year. Quantumscape believes they can get battery energy density to 500 Wh/kg and a battery cost reduction of 17%. There is a 37-page Investor Presentation. QuantumScape may have suffered a blow recently after it lost its chief manufacturing officer, Celina Mikolajczak. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. QuantumScape (NASDAQ:QS) stock is sitting in a sort of middle ground in terms of its evolution. Written By Brian Wang, Nextbigfuture.com (Brian owns shares of Tesla). 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. QuantumScape had already received fresh capital at the end of 2020 through its IPO itself and last summer through an investment of 200 million euros from Volkswagen, among others. 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 said it has begun shipping "A0" samples of its battery cells to its automaker clients. SOURCES Quantumscape, Prologium Moneyball Medium A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. Ms. Fong holds a B.S. Cost basis and return based on previous market day close. in Management from Stanford Graduate School of Business. The companies currently contemplate Salzgitter, Germany for the location. in Physics, a M.S. in Business Administration from U.C. Our goal has been to bring our solid-state lithium-metal batteries to market as soon as possible, said Jagdeep Singh, CEO and co-founder of QuantumScape. in Business Administration from U.C. QuantumScape Ships First 24-Layer Prototype Battery Cells to Automotive OEMs. Learn More{{/message}}, {{#message}}{{{message}}}{{/message}}{{^message}}It appears your submission was successful. The server responded with {{status_text}} (code {{status_code}}). Solid-state batteries have long been known to have the potential for higher capacity than conventional li-ion batteries with liquid electrolytes. The Companys batteries are designed to enable longer range . Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. Berkeley and a M.S. QuantumScape is funded by 10 investors. It also stated that it would have a proprietary format that would have to . QuantumScape is a San Jose-based battery company founded 10 years ago by Jagdeep Singh, a computer scientist and co-founder of Infinera Corporation, a major telecom component supplier, and Tim. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. and free of charge. Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. [1] Investors include Bill Gates and Volkswagen.[2]. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for use in electric vehicles. Chief Executive Officer and Head of Corporate Development since March 2013 a manufacturing marvel rather. 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