Tesla, CATL and the other battery makers are scaling to terawatt-hours per year and continuing to drive down costs and increase energy density. QuantumScape is registered under the ticker NYSE:QS . 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. Quantumscape plans to go public with a SPAC deal before the end of the year. 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. 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,. Expansion to three new facilities to scale advanced manufacturing capabilities. Through Zalkon.com, you can check out Freds portfolio and get monthly green stock investment ideas. QuantumScape is on a mission to transform energy storage. Apparently, it will be the companys manufacturing headquarters for batteries. Please support local businesses. 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. QuantumScape Factory Economics (QS-1, 20GWh) Capex + Start-up Costs: $1.6B ~70% Cell Factory ~30% Separator Factory Equity Need: ~$500M Note: Assumes 5% annual price and cost declines. Ms. Fong holds a B.S. 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. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. It does NOT increase energy density. 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. Chart reflects 100% of factory financials. (adsbygoogle = window.adsbygoogle || []).push({}); Solid-state battery specialist QuantumScape plans to issue 13 million new shares. QuantumScape (QS -1.45%) stock rose recently on the rumors of a potential partnership with Porsche. Solid-state battery maker QuantumScape has announced a plan to build a new pilot battery production factory in California. 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. The company is on a mission to revolutionize energy storage to enable a sustainable future. Quantum scape expects to get 70 USD/kWh in 2028. across Europe and beyond. Dr. Holme holds a B.S. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. In 2018, Volkswagen invested $100 million in the company, becoming the largest shareholder. Tesla has made its new batteries into a structural slab on the base of the car. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. I'm not saying that it will never happen, but at least it is clear that silicon has been able to "hold off" alternative technologies for decades through continuous improvements. VW ID. In concrete terms, the latter should be possible in San Jos from 2023. Mr. McCarthy has served as QuantumScapes Chief Legal Officer and Head of Corporate Development since March 2013. BMW iX review: How efficient is the BMW eSUV in real life? The Technology Drive location, which totals 87,100. QuantumScape is a company that provides electrical energy storage solutions. 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. 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. Initially, it will have a 1 GWh production capacity. 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. This reminds me of the debate about silicon and gallium arsenide in the chip business. The company has worked for more than 10 years to develop this separator material. 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. This helps increase the volumetric density of the cell. workday short, to the point, They will start building a pilot factory in about one year and that factory will produce 1 gigawatt-hour of batteries per year. 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. I was having difficulty seeing a litre of lithium. It successfully tested 10-layer cells in 2021. Despite uncertainties, if things go according to QuantumScape's plans, the company could start pilot production of its batteries in 2024. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. 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. The departure of its top manufacturing expert is bad news for the battery startup backed by Volkswagen. Also, silicon anodes, by definition cannot produce a denser battery than a solid state battery that uses NO anodes at all. Berkeley and a M.S. QuantumScape is an American company that develops solid state lithium metal batteries for electric cars. The lab at QuantumScape in San Jose, Calif., on Feb. 4, 2021. QuantumScape hasn't disclosed the names of these two auto companies. Let's . in Management from Stanford Graduate School of Business. Mr. McCarthy holds a B.A. This should start in the second half of 2024 with the help of Volkswagen. Its solid-state battery cell technology has an energy density, enhanced safety, fast charging capability, and small size. It depends on the density of the materials used in the battery. fordecision makersin the QuantumScape Corp (NYSE: QS) has secured a new set of buildings in San Jose for its future manufacturing hub, QS Campus. Volkswagen says it is looking to produce car batteries with QuantumScape's technology in 2025. 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. 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.. Down 86% in This Bear Market, Can QuantumScape Stock Recover in 2023? The 50 USD/kWh was Brians conjecture for 2024 price levels. Apart from Volkswagen (VWAGY -0.29%), QuantumScape is collaborating with two other auto original equipment manufacturers (OEMs). Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. Mr. Singh is QuantumScapes Chief Executive Officer and Chairman of the Board of Directors. Mr. Hettrich holds a B.A. Mr. McCarthy also currently serves on the board of QSV Operations LLC. 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. 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. 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. May 17, 2021 at 8:31am ET By: Gustavo Henrique. This is formed from pure lithium metal as soon as the battery is charged. 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. (adsbygoogle = window.adsbygoogle || []).push({}); Subscribe to electrive today by Berkeley and a M.S. 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 order to avoid the worst consequences of climate change, we must electrify transportation and turn internal combustion engines into a way of the past. newsletter is published every https://www.electrive.com/2021/03/25/quantumscape-to-open-second-pilot-plant/. The solid-state battery startup expects to be able to produce 200,000 cells. The company will take possession of the new buildings and begin outfitting the facilities for specific purposes starting in January 2022. Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. Price as of January 18, 2023, 11:16 a.m. Heres QuantumScape Q4 2020 shareholder letter for all the details: [scribd id=494805848 key=key-8c6c3fDY9zSZljWZMpfd mode=scroll]. Additional information concerning these and other factors that could materially affect QuantumScapes actual results can be found in QuantumScapes periodic filings with the SEC. This will involve selling the vehicles in North America rather than exporting them. He is open to public speaking and advising engagements. 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 . It is no longer the controversial special purpose acquisition company (SPAC) electric vehicle. developments in electric transport Mr. Singh co-founded QuantumScape and has served as its Chief Executive Officer since QuantumScapes incorporation in May 2010. 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. Quantumscape believes they can get battery energy density to 500 Wh/kg and a battery cost reduction of 17%. Finally a legit, authentic taco restaurant in Canton. Please contact the developer of this form processor to improve this message. After a Scorpion Capital report claimed QuantumScape was a pump-and-dump SPAC scam, the solid-state battery startup could not seem to care less. Until now, the low cycle stability has been considered a major weakness of solid-state batteries. QuantumScape Reports Third Quarter 2022 Business and Financial Results. 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. One of these is a top 10 global auto manufacturer by revenue, and the other is a luxury auto company. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Pouch form factor batteries cannot be made into structural parts of the body of the car. 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. The company is headquartered in San Jose, California and employs around 400 people. [7], On April 15, 2021, hedge fund Scorpion Capital announced their short position in the stock, accusing the company of being a pump-and-dump scheme. Mr. Hettrich is QuantumScapes Chief Financial Officer. 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 . [1] Investors include Bill Gates and Volkswagen. 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. This QuickTake adaptation of our award-winning podcast, The Pay Check, focuses on the racial wealth gap. in Economics from Pomona College, a M.B.A. from Stanford Graduate School of Business, and a M.S. Tesla dry cells and silicon anodes mean that solid-state batteries will not be able to beat advanced lithium-ion on energy density. A litre of lithium, or rather a litre of battery, is just the volume of the box or can that everything has to fit into. Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. Salzgitter will be where the German carmaker will have its first 40 GWh gigafactory in Europe. Fred is the Editor in Chief and Main Writer at Electrek. 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. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. [2] At the same time, the company's shares will be listed on the New York Stock Exchange under the symbol QS. They were excellent and well made. The companies plan to begin a joint pilot program by 2023. 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. Tesla battery system reduces the need for structural steel. The campus is designed to encourage more natural opportunities for employees to collaborate across departments and functions. They were planning on "Quantum WebCrowdsourced Nanotronics" but they were told to tone it down a bit. In addition, the solid-state battery does not have a classic anode. 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. Rekha Khandelwal has no position in any of the stocks mentioned. 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. QuantumScape is on a mission to transform energy storage with solid-state lithium-metal battery technology. 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. Solid-state battery developer QuantumScape Corp. (NYSE: QS) was a $54 billion stock just 18 months ago, but after an agonizing 93% decline in QS stock off a . It will also provide capacity to makeenough batteries for hundreds of long-range battery electric test vehicles per year. /a > QuantumScape - Resources - Press Business Outlook Data presented vehicles to outperform internal combustion cars located in Jos., QuantumScape, it reflects 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. As the capital of Silicon Valley, San Jose continues to welcome the growth of innovative tech leaders like QuantumScape, said San Jose Mayor Sam Liccardo. 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. 7 analysts have issued 12 month price targets for QuantumScape's stock. Called QS-0, the plant is expected to be capable of producing over 100,000 units of solid-state cells per year. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot production line, and the adjacent three new buildings. builds on the email briefing we publish 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. Considering QS-1 will apparently be just in the same city but not the same plant, were more inclined to the second hypothesis. QuantumScape's batteries may increase electric vehicles' range considerably for the same battery size. 10/26/2022. Their financials show they expect to make about $70/kwh from the batteries they make in 2028. 10/12/2022. The server responded with {{status_text}} (code {{status_code}}). With 24 layers, each comprising . The pilot line will be based in San Jose and will be called QS0. electric mobilityindustry. The Motley Fool has a disclosure policy. Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast. 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. There is a 37-page Investor Presentation. 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 team listed the properties the material would need to have: 1) resist dendrites. 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. Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. The Wolfsburg company will then have the right to become the first customer for the new batteries based on solid-state technology. 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. Making the world smarter, happier, and richer. How Is That a Good Thing? QuantumScape completed its 2021 milestones as planned. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology. every workday since 2013. QS-1 will follow QS-0, QuantumScapes planned pre-pilot line. 09/29/2022. . It also stated that it would have a proprietary format that would have to . Additionally, the company needs to minimize volume manufacturing costs. in Management from Stanford Graduate School of Business. 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.. More Financials. The company plans to continue aggressive hiring of world-class talent through 2022 and beyond. The company now needs to develop multilayered cells with commercial dimensions while adding several more layers. The new site in North San Jose is minutes from its current location, which will retain its central role in the companys research and development activities. The deal should result in a valuation of $3.3 billion and leave Quantumscape with over $1 billion to fund its factory and plans. Mr. Hettrich also served as a Business Analyst at McKinsey & Company, a management consulting firm, from September 2004 to July 2007. [1] Investors include Bill Gates and Volkswagen.[2]. In its Q2 2022 Shareholder Letter, the company did not even touch on the subject . In concrete terms, the latter should be possible in San Jos from 2023. [6] Learn More{{/message}}, Quantumscape Plans 1 Gigawatt Hour Battery Plant in 2024. It released on May 14 that it is in the process of selecting where it will produce with Volkswagen. The solid-state battery specialist also plans to invest part of the proceeds in its joint venture with Volkswagen. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. Additional information concerning these and other factors that could materially affect QuantumScapes actual results can be found in QuantumScapes periodic filings with the SEC. After testing and validating QuantumScape's cells, these companies intend to use them in their vehicles. This will not happen. Quantumscape plans to go public with a SPAC deal before the end of the year. Bloomberg Markets European Close. 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. Latest updates If the battery were really dense, it would take up less room in a device even if the weight necessary were still kind of high. 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. At 2028, Tesla will be at one or two TWh per year and with costs below 50 USD/kWh. Mr. Hettrich has served as QuantumScapes Chief Financial Officer and head of Business Operations since September 2018. All we have mostly in Canton are corporate chain restaurants. If they keep improving like they have been so far, they will perhaps be at 30 USD/kWh in 2028. The core of the QuantumScape technology is a ceramic separator, which is supposed to remedy exactly this. entering your email below. To achieve our goals, we believe we must make progress on both development and manufacturing simultaneously, said Jagdeep Singh, co-founder and CEO of QuantumScape. QuantumScape has a post-money valuation in the range of $1B to $10B as of Jun 17, 2020 . Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. 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. flat storage boxes for under bed menu menu 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. QuantumScape Corp. ( QS) stock's 93% plunge makes it a vulnerable acquisition target if shares fail to recover soon. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. 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. Learn More{{/message}}, {{#message}}{{{message}}}{{/message}}{{^message}}It appears your submission was successful. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Being an investor in the startup, the German automaker will also benefit from any success it has with its competitors. The Wolfsburg-based company now owns a third of the California-based company. Find one worth sharing. So wh/l is actually volume, like a litre of water (10cm*10cm*10cm)? The new campus comprises the current site of QS-0, QuantumScapes pre-pilot production line, and the adjacent three new buildings. 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. Their stock opened with $23.50 in its Nov 27, 2020 IPO. insideevs.com,electrek.co,techcrunch.com,ir.quantumscape.com,sec.report. Ms. Fong holds a B.S. 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. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. If all goes as planned, it QuantumScape expects revenue to grow gradually from $39 million in 2025 . In the same year, Volkswagen and QuantumScape announced the establishment of a joint production project to prepare for mass production of solid state batteries. 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.. ADVERTISEMENT This will allow us toprovide early cells to VW, as well as other automotive partners, explore non-automotive applications, andhelp de-risk subsequent commercial scale-up.. QuantumScape may have suffered a blow recently after it lost its chief manufacturing officer, Celina Mikolajczak. In the last quarter of 2020, QuantumScape briefly surpassed the valuation of Ford Motor Co. without having any commercial product and with zero revenue. After the new announcements from the stock exchange release and the new share issue, these statements may already be outdated. 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. 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. 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. 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.. The expanded plant would start producing in 2027. 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. 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. electrive.com is a newsservice 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. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. Its goal is not to be a manufacturing marvel but rather to supply engineering cells for prototypes. QuantumScape is on a mission to transform energy storage with solid-state lithium-metal battery technology. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. 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 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 . 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. 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. in Environment and Resources from Stanford University. It intends to accelerate the commercialization of solid-state batteries for e-mobility. It is not yet clear where this plant will be built. 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. His blog Nextbigfuture.com is ranked #1 Science News Blog. in Business Administration from U.C. However, the goal is to make it reach a 20 GWh production scale. 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. The expected proceeds of $859 million are to be invested in the companys planned pilot plant and in the joint venture with Volkswagen. Come join us on our mission as we revolutionize energy storage to enable a sustainable future. Tesla is on the fourth iteration of Maxwell Technology drycell production processes and they are iterating every 3-4 months. 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 (QS 9.07%) stock rose recently on the rumors of a potential partnership with Porsche. For more information, please visit www.quantumscape.com . QuantumScape said it has begun shipping "A0" samples of its battery cells to its automaker clients. 12/8/2022. Home Energy Quantumscape Plans 1 Gigawatt Hour Battery Plant in 2024. {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. 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. A full-sized plant would also be built and start production in 2027. Written By Brian Wang, Nextbigfuture.com (Brian owns shares of Tesla). 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 company believes that its solid-state batteries will be far more energy-dense than the lithium-ion batteries in use right now. And the ceramic separator is non-flammable and noncombustible, making our batteries safer than conventional lithium-ion batteries. Many of these factors are outside QuantumScapes control and are difficult to predict. 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EV battery startup QuantumScape has leased a massive production site in San Jose, hinting at the company's intent to bring its "groundbreaking" solid . QuantumScape was founded in 2010. For more information, please visit www.quantumscape.com. The joint venture between QuantumScape and Volkswagen will be called QS-1. SOURCES Quantumscape, Prologium Moneyball Medium [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. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. The short story is that they claim to have solved the solid-state battery problem. Qatar Investment Authority and Fidelity Management and Research Company are the most recent investors. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. 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. The batteries may increase an electric vehicle's range notably for the same battery size. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. 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. More. Berkeley and a M.S. While QuantumScape remained silent about its technology for a long time, the company presented performance data of prototype cells for the first time in December 2020. Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. QuantumScapes lithium-metal solid-state batteries will charge faster, go farther, last longer and operate more safely than todays EVs and gas-powered vehicles bringing us closer to that lower carbon future. For more information, please visit www.quantumscape.com. It has been claimed that solid-state batteries would enable Volkswagen and Toyota to leapfrog Tesla battery technology. In all, QuantumScape could already be delivering its batteries to auto OEMs successfully three years from now. QuantumScape Ships First 24-Layer Prototype Battery Cells to Automotive OEMs. Mr. Singh joined the QuantumScape Board in May 2010. Even before the news, the stock has been on an upward trend since the middle of March. Moreover, QuantumScape's cells do not have an anode at the time of manufacturing; a lithium-metal anode is formed when the cells are charged. Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. Batteries Move From Labs to Mass Production, Bloomberg, QuantumScape CEO on the Evolution of EV Batteries. The industry-facing website The Companys batteries are designed to enable longer range . The full-sized plant would have 2 to 4 times the capacity of the first expanded plant. The new research and manufacturing site is dramatically larger than QuantumScape's current headquarters at 1730 Technology Drive in San Jose. 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. Type Public Status Active Founded 2010 HQ 59,9%. 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. Even before the news, the stock has been on an upward trend since the middle of March. 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. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for use in electric vehicles. Date: May 4 Amount: $103.8 million. in Physics, a M.S. QuantumScape Corporation is engaged in developing battery technology for electric vehicles (EVs) and other applications. 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. By Matt - Published on April 16, 2021. The new plant in Livonia, Mich. is expected to expand A123's manufacturing capabilities . Canadas Population at 38 Million and Adding 4 Million Immigrants from Now to 2030, How to Keep Your Cryptocurrencies Safe in 2020. QuantumScape's cells use a solid-state separator in place of the porous separators used in conventional lithium-ion batteries. Location: 1710 Automation Pkwy, located just north of Hostetter Road between Lundy Avenue and Interstate 680 and across the street from a Costco warehouse. Puddle Jumpers Pointthe Way to Greener Aviation, What Tech Job Cuts Say About Silicon Valleyand the Rest of the Economy, With VC Funding Drying Up, Biotechs Are on a Quest for Cash, Columbia Hires First Female Leader as Shafik Succeeds Bollinger, Jes Staley Personally ObservedEpstein's Abuse, Woman Suing JPMorgan Claims, Tesla Is on Both Offense and Defense in Its First-Ever Price War, Britishvolts FailureReinforces UK Car SectorsExistential Dread, The White House Is Considering Broad Actions to ExpandTenant Protections, The School Board Queen Endorsed by Florida Governor Ron DeSantis, The School Board Queen: How a Florida Mom Is Shaking Up US Education, Ryan Salame Invested Big In ASmall Town, Now Its Tangled Up In FTXs Fallout(Podcast), Fight to Regulate Crypto atCrossroads as Ripple Ruling Looms. Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. Prior to joining QuantumScape, he was a Research Associate at Stanford University from June 2008 to January 2011. 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. Anthony P. Plymouth Township, MI. According to an agreement between the two companies, the location for the planned pilot plant with VW is to be determined this year. Solid-state batteries have long been known to have the potential for higher capacity than conventional li-ion batteries with liquid electrolytes. The company is on a mission to revolutionize energy storage to enable a sustainable future. The companies currently contemplate Salzgitter, Germany for the location. QuantumScape developed the industrys first anode-less cell design, which delivers high energy density while lowering material costs and simplifying manufacturing. QuantumScape has been based in San Jose since its founding in 2010. The Motley Fool has no position in any of the stocks mentioned. The factory will make early production versions of the company's advanced electric. The luxury auto company could possibly be Porsche. ChatGPT Sounds Exactly Like Us. 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. These are the key requirements to make a lithium-metal anode, which in turn enables high energy density, fast charge, and long life. 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. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. QuantumScape expects to produce cells for use in test cars in 2023 and start commercial production in 2024. 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. 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. However, the industry has several challenges to overcome in order to make solid-state viable, and QuantumScape claims to have solved them all. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. Prior to joining QuantumScape, Mr. Hettrich served as a Private Equity Associate of Bain Capital, an investment firm, from September 2007 to July 2009. 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. Our in Business Administration from U.C. 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. The recycling plant could source raw materials to the solid-state cell plant in a much easier way. These samples are nearly full-size prototypes that will allow the automakers to test and begin . in Business Administration from U.C. To make the world smarter, happier, and richer. 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 future is solid. in Mathematical Economics from Colgate University and a J.D. Quantumscape has shared new data showcasing further development of its solid-state batteries, whose cells have completed 400 consecutive 15-minute fast-charge cycles, replenishing from 10% to 80% . Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels. That would prevent it's use as a structural battery due to size changes. Dr. Holme has served as QuantumScapes Chief Technology Officer since January 2011. For Investors John Saager, CFA Head of Investor Relations ir@quantumscape.com As we shift into the next phase of our growth trajectory, developing advanced manufacturing capabilities becomes more critical. in Management from Stanford Graduate School of Business. The company expects to produce cells for use in test cars in 2023. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. 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. You can send tips on Twitter (DMs open) or via email: fred@9to5mac.com. 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. With reporting by Cora Werwitzke, France. Berkeley and a M.S. QuantumScape, which was founded in 2010, went public via a merger with a special-purpose acquisition company, or SPAC. 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. Please contact the developer of this form processor to improve this message. FTC: We use income earning auto affiliate links. 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. 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 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. Tesla uses a dry electrode, where "dry" doesn't describe the battery but rather is a simplified manufacturing process that reduces manufacturing cost. The company has confirmed 10-year lease agreements for the three new buildings of QS Campus. About 200 mL if I recall correctly. My guess is that the ratio between lithium ion and solid state lithium will be a similar story, i.e. Battery startup QuantumScape dropped some news last week that we reporterslike to call a Friday night news dump. Our mail-out and online service cover Both companies currently have a preference for Salzgitter, a city that was mentioned more than one at Volkswagen Power Day. It's a bad sign for the company backed by Volkswagen. If things go as per QuantumScape's plans, the company will have a huge market for its cells. Includes costs for planning, FAT / SAT, and start-up; excludes maintenance capex and interest expense. I think consumer electronics (like cell phones) developers worry more about Wh/L and electric car developers worry more about Wh/kg. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. QuantumScape made the plans for a pilot plant in San Jos public a few weeks ago when it announced its financial results. QuantumScape is an American company that develops solid state lithium metal batteries for electric cars. in Management from Stanford Graduate School of Business. In connection with the joint venture, there is also talk of a second pilot plant. As a. A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. You are buying everything these startups are telling you. QuantumScape hopes to provide cells for a few hundred test vehicles each year with it for all manufacturers interested in them. [5], On September 3, 2020, QuantumScape announced a merger with the special-purpose acquisition company Kensington Capital Acquisition. In a presentation last year, QuantumScape unveiled impressive data about its current battery cells that has never been seen in solid-state batteries before. QuantumScape (NASDAQ:QS) stock is sitting in a sort of middle ground in terms of its evolution. in Computer Science from Stanford University. QuantumScape was founded in 2010 by Jagdeep Singh, Tim Holme and Professor Fritz Prinz of Stanford University. Ms. Fong holds a B.S. 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 Holme, a Stanford-educated mechanical engineer. in Business Administration from U.C. 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. Prior to joining QuantumScape, he was the founder and Chief Executive Officer at Infinera Corporation (NASDAQ: INFN), a telecommunications company, from 2001 to 2009. QuantumScape Wants To Raise $859 Million To Increase QS-0 Capacity, QuantumScape: Only We Have A Viable Solid-State Lithium Metal Battery, a Scorpion Capital report claimed QuantumScape was a pump-and-dump SPAC scam,, It already houses Volkswagens first recycling plant, which started to operate in January, Jagdeep Singh told Sandy Munro, Volkswagen is pretty aware that the deal with QuantumScape is not exclusive, Heres How Fast An EV Heats Up Compared To An ICE Car, Watch Tesla Model 3 Attempt To Drive Through Deep Water, Carmax Sold Over Half Its Tesla Inventory In 24 Hours, VW ID.4 Is Being Shipped Without A Heat Pump Due To Semiconductor Shortage, Demand For Tesla's EVs Is Ridiculous Thanks To Price Cuts. On average, they predict the company's stock price to reach $13.86 in the next twelve months. Ms. Fong holds a B.S. The published results with single-layer pouch cells suggest that QuantumScapes battery can be quickly charged to 80 per cent capacity in 15 minutes. The companies currently contemplate Salzgitter, Germany for the location. [3][4] In 2012, QuantumScape began working with German automaker Volkswagen. 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. Its stock soared 49% in its first day of trading in November 2020 and had. While one would be hard-pressed to argue that the nearly 70% premium over today's price. QuantumScape Corporation (NYSE:QS) today announced it has shipped its first 24-layer prototype lithium-metal battery cells to automotive OEMs for testing. Made in Germany! QuantumScape has been promising to present not only a solid-state platform that will work with any lithium-ion chemistry. 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.. Source: QuantumScape via Green Car Congress. 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. 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. Its proprietary solid-state battery design requires a major capital raise for. The companys mission is to revolutionize energy storage to enable a sustainable future. a wide range of relevant stories and Free-Float. and free of charge. The deal should result in a valuation of $3.3 billion and leave Quantumscape with over $1 billion to fund its factory and plans. Get upfront price offers on local inventory. Prior to this, Mr. Hettrich served as QuantumScapes Vice President of Business Operations from March 2016 to March 2018, as Senior Director of Finance and Product Management from March 2014 to March 2016, as a Director of Product Management from March 2013 to March 2014, and as a Manager of Product Management from January 2012 to March 2013. Prior to joining QuantumScape, he was the Chief Administrative Officer at Infinera Corporation from April 2003 to March 2013. SAN JOSE, Calif.-- QuantumScape Corporation (NYSE: QS), a leader in the development of next-generation solid-state lithium-metal batteries for use in electric vehicles, today announced the release of an independent third-party laboratory testing report on the performance of its solid-state lithium-metal battery cells. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. How cost reduction of 17% will bring batteries cost $50 per kwh in 2024 would and then will allow them to make about $70/kwh from the batteries. When used in this current report, the words may, will, estimate, pro forma, expect, plan, believe, potential, predict, target, should, would, could, continue, believe, project, intend, anticipates the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. QuantumScape Corp. plans to lease 200,000 square feet of space in San Jose for a new manufacturing facility. [2] History [ edit] QS-0 will be located in "a second. What's the relationship between wh/L and wh/kg in batteries? The transaction was completed in November 2020 and raised capital for the series production of batteries. The QS-1 will follow QS-0, which is an independent enterprise from QuantumScape. QuantumScapes new facilities will also house additional research and development and office space to accommodate hundreds of new employees. Mr. Singh holds a B.S. Tesla is refining the production processes for new batteries and the new batteries have been produced in the tens of thousands. Alongside this, the developer promises a remaining battery capacity of more than 80 per cent after 800 cycles, which means that hundreds of thousands of kilometres can be covered. Learn More. it will be decades before solid state will matter at all, if ever. "Tesla dry cells and silicon anodes mean that solid-state batteries will not be able to beat advanced lithium-ion on energy density.". These forward-looking statements are based on managements current expectations, assumptions, hopes, beliefs, intentions, and strategies regarding future events and are based on currently available information as to the outcome and timing of future events. QuantumScape ($QS). Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. QuantumScape And VW Are Selecting Where To Make Solid-State Cells Salzgitter is so far the location with more chances to produce these batteries. ET. In February 2021, QuantumScape announced a plan for a new pilot production factory ahead of the main factory. "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. Prologium plans to have 2 Gigawatt hour/year plant working by 2022 and a 7 GWh/year plant working in 2023. 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. 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. Were on a mission to revolutionize energy storage and power a decarbonized future, and were starting with transportation. Let's check out what the solid-state battery company has been up to lately and what its progress means for its stock. 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. 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. 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. They would then expand the plant for 20 GWh/year plant. And there will be another electric bus factory, as well," Thuy said. 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. Invest better with The Motley Fool. Buzz Pro review: Is it enough to become iconic, again? As Jagdeep Singh told Sandy Munro, Volkswagen is pretty aware that the deal with QuantumScape is not exclusive. Many of these factors are outside QuantumScapes control and are difficult to predict. I hope they fire the Head of Designer. In 2025, Prologium plans to reach 900 Wh/L batteries. The final cells used in vehicles may need several dozen layers in each battery pack. Even though the server responded OK, it is possible the submission was not processed. 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 has also collaborated with Fluence Energy (FLNC 2.40%) to supply batteries for use in the latter's storage products. QuantumScape Publishes Inaugural Environmental, Social and Governance Report . It's expected to . QuantumScape Announces Timing of Third Quarter 2022 Financial Results and Webcast. 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