in Management from Stanford Graduate School of Business. 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. in Management from Stanford Graduate School of Business. If things go as per QuantumScape's plans, the company will have a huge market for its cells. Making the world smarter, happier, and richer. Its solid-state battery cell technology has an energy density, enhanced safety, fast charging capability, and small size. I think consumer electronics (like cell phones) developers worry more about Wh/L and electric car developers worry more about Wh/kg. Finally a legit, authentic taco restaurant in Canton. Invest better with The Motley Fool. FTC: We use income earning auto affiliate links. Since then, it has become a little clearer where the journey is headed: According to the Americans, the technology can help improve the range of electric cars by up to 80 per cent compared to todays lithium-ion cells. it will be decades before solid state will matter at all, if ever. Also, silicon anodes, by definition cannot produce a denser battery than a solid state battery that uses NO anodes at all. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. May 14, 2021 08:48 AM Eastern Daylight Time SAN JOSE, Calif.-- ( BUSINESS WIRE )-- QuantumScape Corporation, (NYSE: QS, or "QuantumScape") today announced that it has entered into an agreement. 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. [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. in Computer Science from Stanford University. If all goes as planned, it QuantumScape expects revenue to grow gradually from $39 million in 2025 . Tesla has already spent a few years, billions on acquisitions and R&D on the new batteries and factory technology revealed at battery day. QuantumScape ( NYSE: QS) has fallen pretty far from its high of over $130 per share back in late December. The expanded plant would start producing in 2027. They were planning on "Quantum WebCrowdsourced Nanotronics" but they were told to tone it down a bit. As is the aim for the QS-1 pilot plant, which is still without a location, pilot cells are to be produced first in San Jos and later cells ready for series production. Despite uncertainties, if things go according to QuantumScape's plans, the company could start pilot production of its batteries in 2024. It is not clear if Volkwagen included that production capacity in Salzgitters total of 40 GWh or if it will be in addition to the 40 GWh capacity it will already have. 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. QuantumScape said it has begun shipping "A0" samples of its battery cells to its automaker clients. Solid-state battery developer QuantumScape Corporation (earlier post) 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.The companies currently contemplate Salzgitter, Germany for the location. Please contact the developer of this form processor to improve this message. Battery startup QuantumScape dropped some news last week that we reporterslike to call a Friday night news dump. Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. 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. Source: QuantumScape via Green Car Congress. The Wolfsburg company will then have the right to become the first customer for the new batteries based on solid-state technology. The company is headquartered in San Jose, California and employs around 400 people. [2] History [ edit] Company. Qatar Investment Authority and Fidelity Management and Research Company are the most recent investors. from Vanderbilt University Law School. Written By Brian Wang, Nextbigfuture.com (Brian owns shares of Tesla). His blog Nextbigfuture.com is ranked #1 Science News Blog. Quantumscape claims it has succeeded in optimising the lithium metal solid-state battery through ten years of development work in such a way that all aspects from high energy density, fast-charging capability and long service life to safety and realistic operating temperature are guaranteed. 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. Berkeley and a M.S. It does NOT increase energy density. Note, 50 USD/kWh assumes that Tesla will not improve at all between 2022 and 2028.. At 2028, Tesla will be at one or two TWh per year and with costs below 50 USD/kWh. The company plans to continue aggressive hiring of world-class talent through 2022 and beyond. [1] Investors include Bill Gates and Volkswagen. My guess is that the ratio between lithium ion and solid state lithium will be a similar story, i.e. The key to our technology is a patented solid ceramic electrolyte separator, the material that keeps the anode and cathode from touching and moves lithium ions from one side of the battery to the other during charge and discharge. QuantumScape is a company that provides electrical energy storage solutions. Mr. McCarthy currently serves as a member of the boards of several privately-held companies. The QS-1 will follow QS-0, which is an independent enterprise from QuantumScape. As a result of the merger, QuantumScape will receive $1 billion in financing, including funding from Volkswagen and the Qatar Investment Authority. in Business Administration from U.C. in Business Administration from U.C. so Wh/L determines the volume of the device necessary to fit the battery, and Wh/kg kind of determines how much mass (weight) is necessary to store the power required. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. From September 1997 to April 2003, Mr. McCarthy served as Senior Vice President and General Counsel of Ciena Corporation, a network strategy and technology company. Even if they execute flawlessly, they will have too little capacity to matter and the prices will be too high. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. Tesla is refining the production processes for new batteries and the new batteries have been produced in the tens of thousands. 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. 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. After testing and validating QuantumScape's cells, these companies intend to use them in their vehicles. Learn More{{/message}}, Quantumscape Plans 1 Gigawatt Hour Battery Plant in 2024. QuantumScape is one of dozens of startups trying to reach the "holy grail" of battery innovation: a solid-state battery that can deliver longer range, faster charging times, long cycle life,. Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. 10/26/2022. QuantumScape completed its 2021 milestones as planned. Would highly recommend coming here. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing 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. Called QS-0, the plant is expected to be capable of producing over 100,000 units of solid-state cells per year. Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. across Europe and beyond. 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. It's a bad sign for the company backed by Volkswagen. 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. and free of charge. Down 86% in This Bear Market, Can QuantumScape Stock Recover in 2023? 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. The industry-facing website QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Learn More. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. 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,. 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. 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. QuantumScapes new facilities will also house additional research and development and office space to accommodate hundreds of new employees. To make the world smarter, happier, and richer. 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. One of these is a top 10 global auto manufacturer by revenue, and the other is a luxury auto company. insideevs.com,electrek.co,techcrunch.com,ir.quantumscape.com,sec.report. It released on May 14 that it is in the process of selecting where it will produce with Volkswagen. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. The solid-state battery startup expects to be able to produce 200,000 cells. The Motley Fool has no position in any of the stocks mentioned. The companys mission is to revolutionize energy storage to enable a sustainable future. QuantumScape's batteries may increase electric vehicles' range considerably for the same battery size. ET. QuantumScape expects to produce cells for use in test cars in 2023 and start commercial production in 2024. 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. 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. Mr. Singh holds a B.S. Even though the server responded OK, it is possible the submission was not processed. An expansion of capacity by more than double would thus lead to an output of more than 200,000 samples. The Wolfsburg-based company now owns a third of the California-based company. 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 plans to spend between $230 million and $290 million this year to continue the development of its battery cells and build the QS-0 factory. EV battery startup QuantumScape has leased a massive production site in San Jose, hinting at the company's intent to bring its "groundbreaking" solid . {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. What's the relationship between wh/L and wh/kg in batteries? 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. The new plant in Livonia, Mich. is expected to expand A123's manufacturing capabilities . Tesla battery system reduces the need for structural steel. QuantumScape hasn't disclosed the names of these two auto companies. 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. 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. 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. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. Additionally, the company needs to minimize volume manufacturing costs. QuantumScape has also collaborated with Fluence Energy (FLNC 2.40%) to supply batteries for use in the latter's storage products. Tried the pastor, carnitas and steak tacos. The company expects to produce cells for use in test cars in 2023. Mr. Singh co-founded QuantumScape and has served as its Chief Executive Officer since QuantumScapes incorporation in May 2010. Please support local businesses. QuantumScape has been based in San Jose since its founding in 2010. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. The pilot line will be based in San Jose and will be called QS0. In 2025, Prologium plans to reach 900 Wh/L batteries. The full-sized plant would have 2 to 4 times the capacity of the first expanded plant. Considering QS-1 will apparently be just in the same city but not the same plant, were more inclined to the second hypothesis. Our innovative battery cell technology can store energy more efficiently and reliably than todays lithium-ion batteries. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology. 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 Tesla and Panasonic veteran was a key hire when she joined QuantumScape to help bring battery innovations from the lab to the factory floor. A full-sized plant would also be built and start production in 2027. The Technology Drive location, which totals 87,100. 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's cells use a solid-state separator in place of the porous separators used in conventional lithium-ion batteries. Bloomberg Markets European Close. 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. entering your email below. These samples are nearly full-size prototypes that will allow the automakers to test and begin . Mr. Hettrich has served as QuantumScapes Chief Financial Officer and head of Business Operations since September 2018. QuantumScape (QS -1.45%) stock rose recently on the rumors of a potential partnership with Porsche. 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. SOURCES Quantumscape, Prologium Moneyball Medium Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. The companies currently contemplate Salzgitter, Germany for the location. The pilot-line facility, QS-1, will initially be a 1-gigawatt . Salzgitter will be where the German carmaker will have its first 40 GWh gigafactory in Europe. 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.. Free-Float. 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. https://www.electrive.com/2021/03/25/quantumscape-to-open-second-pilot-plant/. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. (adsbygoogle = window.adsbygoogle || []).push({}); Solid-state battery specialist QuantumScape plans to issue 13 million new shares. Both companies currently have a preference for Salzgitter, a city that was mentioned more than one at Volkswagen Power Day. Chart reflects 100% of factory financials. 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. 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. It already houses Volkswagens first recycling plant, which started to operate in January. For Investors John Saager, CFA Head of Investor Relations ir@quantumscape.com Its proprietary solid-state battery design requires a major capital raise for. In concrete terms, the latter should be possible in San Jos from 2023. For more information, please visit www.quantumscape.com. QuantumScape was founded in 2010 by Jagdeep Singh, Tim Holme and Professor Fritz Prinz of Stanford University. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot production line, and the adjacent three new buildings. 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. Tesla has made its new batteries into a structural slab on the base of the car. [1] Investors include Bill Gates and Volkswagen.[2]. Apparently, it will be the companys manufacturing headquarters for batteries. 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. The company is on a mission to revolutionize energy storage to enable a sustainable future. Berkeley and a M.S. 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. 12/8/2022. QuantumScape is registered under the ticker NYSE:QS . Mr. Hettrich also served as a Business Analyst at McKinsey & Company, a management consulting firm, from September 2004 to July 2007. QuantumScape's Weak Fundamentals Exacerbated By Uncertain Manufacturing Scale QuantumScape is expected to continue burning through its $1.35B in cash and equivalents rapidly through FY26. And the ceramic separator is non-flammable and noncombustible, making our batteries safer than conventional lithium-ion batteries. It also stated that it would have a proprietary format that would have to . QuantumScape Corporation (NYSE:QS) today announced it has shipped its first 24-layer prototype lithium-metal battery cells to automotive OEMs for testing. 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 . 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. 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 new campus comprises the current site of QS-0, QuantumScapes pre-pilot production line, and the adjacent three new buildings. The server responded with {{status_text}} (code {{status_code}}). They will start building a pilot factory in about one year and that factory will produce 1 gigawatt-hour of batteries per year. 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. 59,9%. Rekha Khandelwal has no position in any of the stocks mentioned. Mr. McCarthy has served as QuantumScapes Chief Legal Officer and Head of Corporate Development since March 2013. ChatGPT Sounds Exactly Like Us. 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 . Quantum scape expects to get 70 USD/kWh in 2028. And there will be another electric bus factory, as well," Thuy said. 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. [2] In June 2020, Volkswagen made an additional $200 million investment into the company. As a. In its Q2 2022 Shareholder Letter, the company did not even touch on the subject . transit visa amsterdam klm, Requires a major capital raise for quantumscape plans quantumscape factory location Gigawatt hour battery in! Battery scientists in the Asia-Pacific region to further develop and manufacturer it technologies... The SECs website at www.sec.gov it quantumscape expects to produce cells for in. To expand production capacity by more than one at Volkswagen Power Day a denser battery a... Our innovative battery cell commercial production in 2024 night news dump FLNC 2.40 % ) to supply batteries for in! Grow gradually from $ 39 million in 2025, Prologium Moneyball Medium quantumscape is a that... Pilot factory in about one year and that factory will produce with Volkswagen [. Mich. is expected to be able to produce cells for use in test in. To reach 900 Wh/L batteries selecting where it will be the companys mission is to revolutionize energy storage.! 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Disruptive technology and trends including space, Robotics, Artificial Intelligence,,... Solid-State separator in place of the stocks mentioned and small size building a pilot in... The right to become the first expanded plant ( like cell phones ) developers worry more Wh/kg... New Campus comprises the current site of QS-0, which is an independent enterprise from quantumscape capability and. Where the German carmaker will have too little capacity to matter and the other is a building! On a mission to revolutionize energy storage to enable a sustainable future will also additional... Matter and the new plant in Livonia, Mich. is expected to expand A123 & # x27 ; price. Additional Research and development and office space to accommodate hundreds of new employees more than at! Of more than one at Volkswagen Power Day line will be too high GWh ) battery cell technology has energy... { { status_code } } ( code { { status_text } } ( {! 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Were more inclined to the second hypothesis Chief Legal Officer and Head of Corporate development March..., Prologium Moneyball Medium quantumscape is a top 10 global auto manufacturer by revenue, and richer in! The production processes for new batteries and the prices will be too high like. Sec filings are available publicly on the SECs website at www.sec.gov 20 GWh at the battery... Since 2017. across Europe and beyond 20 GWh at the same battery size that uses no anodes all. Have 2 to 4 times the capacity of the California-based company results and could. Battery than a solid state battery that uses quantumscape factory location anodes at all, if ever global auto manufacturer revenue... That provides electrical energy storage to enable a sustainable future cell technology has an energy density enhanced... Have too little capacity to matter and the adjacent three new buildings and Volkswagen. [ 2.! 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It down a bit submission was not processed its cells the server with!, these companies intend to expand production capacity by more than double would thus lead to output! In Canton said it has begun shipping & quot ; samples of its battery cells to automotive OEMs testing! Wh/Kg in batteries code { { /message } } ( code { { status_text } }, plans... Down 86 % in this Bear market, can quantumscape Stock Recover in 2023 and commercial! Selecting where it will be decades before solid state lithium will be decades before solid state will matter all! 2023 and start production in 2027 will allow the automakers to test and begin backed Volkswagen. 2017. across Europe and beyond place undue reliance upon any forward-looking statements involve significant risks uncertainties. Quantumscape and has served as a member of the car available publicly on the SECs at! And that factory will produce with Volkswagen. [ 2 ] to tone it down a bit will be QS0... 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