Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. "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. If they keep improving like they have been so far, they will perhaps be at 30 USD/kWh in 2028. He is open to public speaking and advising engagements. The industry-facing website Berkeley and a M.S. Mr. Hettrich is QuantumScapes Chief Financial Officer. The luxury auto company could possibly be Porsche. 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. 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. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. 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. Mr. Singh joined the QuantumScape Board in May 2010. Prior to joining QuantumScape, Mr. Hettrich served as a Private Equity Associate of Bain Capital, an investment firm, from September 2007 to July 2009. Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. 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. newsletter is published every . QuantumScape And VW Are Selecting Where To Make Solid-State Cells Salzgitter is so far the location with more chances to produce these batteries. I was having difficulty seeing a litre of lithium. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. 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. 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. Date: May 4 Amount: $103.8 million. The company has confirmed 10-year lease agreements for the three new buildings of QS Campus. For more information, please visit www.quantumscape.com. 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. Pouch form factor batteries cannot be made into structural parts of the body of the car. 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. The company is on a mission to revolutionize energy storage to enable a sustainable future. If things go as per QuantumScape's plans, the company will have a huge market for its cells. At 2028, Tesla will be at one or two TWh per year and with costs below 50 USD/kWh. To make the world smarter, happier, and richer. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. QuantumScape Corp. ( QS) stock's 93% plunge makes it a vulnerable acquisition target if shares fail to recover soon. in Mechanical Engineering, and a Ph.D. in Mechanical Engineering from Stanford University. QuantumScape said it has begun shipping "A0" samples of its battery cells to its automaker clients. 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. In 2018, Volkswagen invested $100 million in the company, becoming the largest shareholder. in Computer Science from Stanford University. 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. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. The expanded plant would start producing in 2027. 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 published results with single-layer pouch cells suggest that QuantumScapes battery can be quickly charged to 80 per cent capacity in 15 minutes. Quantumscape believes they can get battery energy density to 500 Wh/kg and a battery cost reduction of 17%. Prior to joining QuantumScape, he was a Research Associate at Stanford University from June 2008 to January 2011. I hope they fire the Head of Designer. Let's check out what the solid-state battery company has been up to lately and what its progress means for its stock. The 50 USD/kWh was Brians conjecture for 2024 price levels. Quantum scape expects to get 70 USD/kWh in 2028. Making the world smarter, happier, and richer. While one would be hard-pressed to argue that the nearly 70% premium over today's price. QuantumScape is registered under the ticker NYSE:QS . The new research and manufacturing site is dramatically larger than QuantumScape's current headquarters at 1730 Technology Drive in San Jose. In 2025, Prologium plans to reach 900 Wh/L batteries. 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 . QuantumScape has also collaborated with Fluence Energy (FLNC 2.40%) to supply batteries for use in the latter's storage products. Mr. Singh co-founded QuantumScape and has served as its Chief Executive Officer since QuantumScapes incorporation in May 2010. Tesla has already spent a few years, billions on acquisitions and R&D on the new batteries and factory technology revealed at battery day. 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. 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. They were excellent and well made. Our The company is on a mission to revolutionize energy storage to enable a sustainable future. QuantumScape has been based in San Jose since its founding in 2010. Please contact the developer of this form processor to improve this message. *Average returns of all recommendations since inception. This QuickTake adaptation of our award-winning podcast, The Pay Check, focuses on the racial wealth gap. Our innovative battery cell technology can store energy more efficiently and reliably than todays lithium-ion batteries. SOURCES Quantumscape, Prologium Moneyball Medium Please contact the developer of this form processor to improve this message. 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. Batteries Move From Labs to Mass Production, Bloomberg, QuantumScape CEO on the Evolution of EV Batteries. [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. The solid-state battery startup expects to be able to produce 200,000 cells. The expected proceeds of $859 million are to be invested in the companys planned pilot plant and in the joint venture with Volkswagen. It is not yet clear where this plant will be built. it will be decades before solid state will matter at all, if ever. 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.. 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Written By Brian Wang, Nextbigfuture.com (Brian owns shares of Tesla). SAN JOSE, Calif.- (BUSINESS WIRE)- QuantumScape Corporation (NYSE: QS) today announced QS Campus - the future hub of its upcoming manufacturing activities - after securing a new set of buildings in San Jose. The server responded with {{status_text}} (code {{status_code}}). Learn More{{/message}}, {{#message}}{{{message}}}{{/message}}{{^message}}It appears your submission was successful. Ms. Fong holds a B.S. Through Zalkon.com, you can check out Freds portfolio and get monthly green stock investment ideas. 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. 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. 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. It's expected to . The team listed the properties the material would need to have: 1) resist dendrites. 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 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. 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. In February 2021, QuantumScape announced a plan for a new pilot production factory ahead of the main factory. Berkeley and a M.S. 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. And the ceramic separator is non-flammable and noncombustible, making our batteries safer than conventional lithium-ion batteries. You are buying everything these startups are telling you. ET. 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. QuantumScape may have suffered a blow recently after it lost its chief manufacturing officer, Celina Mikolajczak. A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. QuantumScape 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. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. This suggests a possible upside of 67.0% from the stock's current price. 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. 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. More Financials. 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. 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. Despite uncertainties, if things go according to QuantumScape's plans, the company could start pilot production of its batteries in 2024. 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. The recycling plant could source raw materials to the solid-state cell plant in a much easier way. 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. Many of these factors are outside QuantumScapes control and are difficult to predict. 570. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. Its goal is not to be a manufacturing marvel but rather to supply engineering cells for prototypes. QuantumScape is an American company that develops solid state lithium metal batteries for electric cars. {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. 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. A full-sized plant would also be built and start production in 2027. The Companys batteries are designed to enable longer range . Called QS-0, the plant is expected to be capable of producing over 100,000 units of solid-state cells per year. It already houses Volkswagens first recycling plant, which started to operate in January. developments in electric transport The company will take possession of the new buildings and begin outfitting the facilities for specific purposes starting in January 2022. [2] In June 2020, Volkswagen made an additional $200 million investment into the 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,. Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. 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 has a post-money valuation in the range of $1B to $10B as of Jun 17, 2020 . The QS-1 will follow QS-0, which is an independent enterprise from QuantumScape. Their stock opened with $23.50 in its Nov 27, 2020 IPO. Tesla is on the fourth iteration of Maxwell Technology drycell production processes and they are iterating every 3-4 months. 09/29/2022. Expansion to three new facilities to scale advanced manufacturing capabilities. Mr. McCarthy has served as QuantumScapes Chief Legal Officer and Head of Corporate Development since March 2013. 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's batteries may increase electric vehicles' range considerably for the same battery size. Five years from now, the company expects to have a . 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. electrive.com is a newsservice 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. Free-Float. fordecision makersin the However, the industry has several challenges to overcome in order to make solid-state viable, and QuantumScape claims to have solved them all. QuantumScape was founded in 2010 by Jagdeep Singh, Tim Holme and Professor Fritz Prinz of Stanford University. QuantumScape is an American company that develops solid state lithium metal batteries for electric cars. The deal should result in a valuation of $3.3 billion and leave Quantumscape with over $1 billion to fund its factory and plans. Tesla uses a dry electrode, where "dry" doesn't describe the battery but rather is a simplified manufacturing process that reduces manufacturing cost. They will start building a pilot factory in about one year and that factory will produce 1 gigawatt-hour of batteries per year. 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. 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. 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. The departure of its top manufacturing expert is bad news for the battery startup backed by Volkswagen. It depends on the density of the materials used in the battery. electric mobilityindustry. workday short, to the point, 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. 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 . QuantumScape developed the industrys first anode-less cell design, which delivers high energy density while lowering material costs and simplifying manufacturing. 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.. Ms. Fong holds a B.S. 7 analysts have issued 12 month price targets for QuantumScape's stock. Additionally, the company needs to minimize volume manufacturing costs. One of these is a top 10 global auto manufacturer by revenue, and the other is a luxury auto company. Additional information concerning these and other factors that could materially affect QuantumScapes actual results can be found in QuantumScapes periodic filings with the SEC. Solid-state batteries have long been known to have the potential for higher capacity than conventional li-ion batteries with liquid electrolytes. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. Prologium plans to have 2 Gigawatt hour/year plant working by 2022 and a 7 GWh/year plant working in 2023. The lab at QuantumScape in San Jose, Calif., on Feb. 4, 2021. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels. Prior to joining QuantumScape, he was the founder and Chief Executive Officer at Infinera Corporation (NASDAQ: INFN), a telecommunications company, from 2001 to 2009. Heres QuantumScape Q4 2020 shareholder letter for all the details: [scribd id=494805848 key=key-8c6c3fDY9zSZljWZMpfd mode=scroll]. Please support local businesses. His blog Nextbigfuture.com is ranked #1 Science News Blog. 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