Written By Brian Wang, Nextbigfuture.com (Brian owns shares of Tesla). 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. Initially, it will have a 1 GWh production capacity. 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. QuantumScape Corp. plans to lease 200,000 square feet of space in San Jose for a new manufacturing facility. 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. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. [3][4] In 2012, QuantumScape began working with German automaker Volkswagen. in Management from Stanford Graduate School of Business. In 2018, Volkswagen invested $100 million in the company, becoming the largest shareholder. Dr. Holme has served as QuantumScapes Chief Technology Officer since January 2011. Its stock soared 49% in its first day of trading in November 2020 and had. 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 innovative battery cell technology can store energy more efficiently and reliably than todays lithium-ion 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. and free of charge. QuantumScape (QS 9.07%) stock rose recently on the rumors of a potential partnership with Porsche. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels. Chart reflects 100% of factory financials. Making the world smarter, happier, and richer. 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. 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. articles a month for anyone to read, even non-subscribers! 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 companies currently contemplate Salzgitter, Germany for the location. [1] Investors include Bill Gates and Volkswagen.[2]. Free-Float. 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. 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. 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 industry-facing website Prior to joining QuantumScape, he was the Chief Administrative Officer at Infinera Corporation from April 2003 to March 2013. 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. QuantumScape Corporation is engaged in developing battery technology for electric vehicles (EVs) and other applications. Prior to joining QuantumScape, he was a Research Associate at Stanford University from June 2008 to January 2011. Mr. Hettrich also served as a Business Analyst at McKinsey & Company, a management consulting firm, from September 2004 to July 2007. According to an agreement between the two companies, the location for the planned pilot plant with VW is to be determined this year. Our mail-out and online service cover Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. The solid-state battery startup expects to be able to produce 200,000 cells. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. The plant, called QS-0, will be able to produce more than 100,000 samples of solid-state cells per year, the announcement said. 7 analysts have issued 12 month price targets for QuantumScape's stock. Learn More{{/message}}, {{#message}}{{{message}}}{{/message}}{{^message}}It appears your submission was successful. 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 Corp (NYSE: QS) has secured a new set of buildings in San Jose for its future manufacturing hub, QS Campus. 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. 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. SOURCES Quantumscape, Prologium Moneyball Medium It is not yet clear where this plant will be built. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. Dr. Holme is QuantumScapes Chief Technology Officer. The Company is focused on the development and commercialization of its solid-state lithium-metal batteries. 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. in Computer Science from Stanford University. The expected proceeds of $859 million are to be invested in the companys planned pilot plant and in the joint venture with Volkswagen. 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. The company is on a mission to revolutionize energy storage to enable a sustainable future. The solid-state batteries that QuantumScape is researching could change the EV landscape considerably. QuantumScape completed its 2021 milestones as planned. This will involve selling the vehicles in North America rather than exporting them. in Management from Stanford Graduate School of Business. Buzz Pro review: Is it enough to become iconic, again? 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. Mr. Singh co-founded QuantumScape and has served as its Chief Executive Officer since QuantumScapes incorporation in May 2010. This will not happen. And there will be another electric bus factory, as well," Thuy said. Mr. McCarthy also currently serves on the board of QSV Operations LLC. 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. 5 min read. Let's check out what the solid-state battery company has been up to lately and what its progress means for its stock. All we have mostly in Canton are corporate chain restaurants. 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 . Tesla uses a dry electrode, where "dry" doesn't describe the battery but rather is a simplified manufacturing process that reduces manufacturing cost. 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. 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. 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. it will be decades before solid state will matter at all, if ever. 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. After testing and validating QuantumScape's cells, these companies intend to use them in their vehicles. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. in Business Administration from U.C. 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. [9][10] The battery was claimed to offer an energy density of 1kWh/L or 380-500 Wh/kg. builds on the email briefing we publish insideevs.com,electrek.co,techcrunch.com,ir.quantumscape.com,sec.report. After the new announcements from the stock exchange release and the new share issue, these statements may already be outdated. 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. VW ID. Mr. Singh joined the QuantumScape Board in May 2010. Apart from Volkswagen (VWAGY -0.29%), QuantumScape is collaborating with two other auto original equipment manufacturers (OEMs). Both companies currently have a preference for Salzgitter, a city that was mentioned more than one at Volkswagen Power Day. 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. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. Tesla dry cells and silicon anodes mean that solid-state batteries will not be able to beat advanced lithium-ion on energy density. In March, QuantumScape announced an additional $100 million in funding from Volkswagen after Volkswagen confirmed through tests at its labs in Germany that QuantumScape cells met the established technical milestone. The full-sized plant would have 2 to 4 times the capacity of the first expanded plant. QuantumScape's batteries may increase electric vehicles' range considerably for the same battery size. QS-0 will be located in "a second. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. To make the world smarter, happier, and richer. An expansion of capacity by more than double would thus lead to an output of more than 200,000 samples. 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% . Let's . 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. Tesla has made its new batteries into a structural slab on the base of the car. 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. The company is headquartered in San Jose, California and employs around 400 people. Five years from now, the company expects to have a . Source: QuantumScape via Green Car Congress. 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. 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. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. The Companys batteries are designed to enable longer range . Get upfront price offers on local inventory. Its proprietary solid-state battery design requires a major capital raise for. It is no longer the controversial special purpose acquisition company (SPAC) electric vehicle. [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. ChatGPT Sounds Exactly Like Us. *Average returns of all recommendations since inception. The companies plan to begin a joint pilot program by 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. If all goes as planned, it QuantumScape expects revenue to grow gradually from $39 million in 2025 . Berkeley and a M.S. 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. QuantumScape expects to produce cells for use in test cars in 2023 and start commercial production in 2024. 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. As Jagdeep Singh told Sandy Munro, Volkswagen is pretty aware that the deal with QuantumScape is not exclusive. 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. 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! My guess is that the ratio between lithium ion and solid state lithium will be a similar story, i.e. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. He is open to public speaking and advising engagements. Its goal is not to be a manufacturing marvel but rather to supply engineering cells for prototypes. in Environment and Resources from Stanford University. The companies currently contemplate Salzgitter, Germany for the location. The final cells used in vehicles may need several dozen layers in each battery pack. The lab at QuantumScape in San Jose, Calif., on Feb. 4, 2021. The company now needs to develop multilayered cells with commercial dimensions while adding several more layers. 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 maker QuantumScape has announced a plan to build a new pilot battery production factory in California. electrive.com is a newsservice 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. Additional information concerning these and other factors that could materially affect QuantumScapes actual results can be found in QuantumScapes periodic filings with the SEC. While one would be hard-pressed to argue that the nearly 70% premium over today's price. Come join us on our mission as we revolutionize energy storage to enable a sustainable future. 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. These samples are nearly full-size prototypes that will allow the automakers to test and begin . These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. It already houses Volkswagens first recycling plant, which started to operate in January. Ms. Fong holds a B.S. Tesla, CATL and the other battery makers are scaling to terawatt-hours per year and continuing to drive down costs and increase energy density. You can send tips on Twitter (DMs open) or via email: fred@9to5mac.com. Solid-state batteries have long been known to have the potential for higher capacity than conventional li-ion batteries with liquid electrolytes. a wide range of relevant stories and NBA Signs Multiyear Deal, Takes Equity Stake in Consumer Data Firm, Pound Flirts With Seven-Month High as Growth Fears Hamper Dollar, Fed Chair Powell Tests Positive for Covid-19, Has Mild Symptoms, Scholz Tells Global Elite in Davos That German Economy Is Back, US Debt-Crisis Worries Sour Davos Optimism on Global Economy, AndreaAgnelli Exits Stellantis, Exor Boards After Juventus Probe, Lufthansa Eyes Stake in Italys ITA to Extend Regional Reach, Apple Gets a Boost in India as Chinese Suppliers Given Clearance, Microsoft Plans 10,000 Job Cuts, to Take $1.2 Billion Charge, Cyber Attack Hits 1,000 Merchant Ships as Norway Firm Targeted, UK Seeks Brexit Fudge to End Dispute Over European Court, Israel Court Disqualifies Netanyahu Ally from Cabinet Post, Credit Suisse to Pay Upfront Cash Bonuses to Senior Staff, Ares Strikes Deal for Office, Naming Rights at Los Angeles Tower, Eating Less Beats Intermittent Fasting for Weight Loss, Study Says, Outrage Over an Image of Muhammad Is Itself Islamophobia, The Coming El Nio Could Be a Glimpse of a Grim Future. Were on a mission to revolutionize energy storage and power a decarbonized future, and were starting with transportation. Additional information concerning these and other factors that could materially affect QuantumScapes actual results can be found in QuantumScapes periodic filings with the SEC. The company has confirmed 10-year lease agreements for the three new buildings of QS Campus. Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. [1] Investors include Bill Gates and Volkswagen. across Europe and beyond. 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 server responded with {{status_text}} (code {{status_code}}). Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. In February 2021, QuantumScape announced a plan for a new pilot production factory ahead of the main factory. QuantumScape's cells use a solid-state separator in place of the porous separators used in conventional lithium-ion batteries. In connection with the joint venture, there is also talk of a second pilot plant. 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. I hope they fire the Head of Designer. Mr. McCarthy currently serves as a member of the boards of several privately-held companies. The Wolfsburg-based company now owns a third of the California-based company. 59,9%. The company is on a mission to revolutionize energy storage to enable a sustainable future. QuantumScape is a company that provides electrical energy storage solutions. 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. 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. The companys mission is to revolutionize energy storage to enable a sustainable future. 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,. fordecision makersin the Mr. Singh holds a B.S. Also, silicon anodes, by definition cannot produce a denser battery than a solid state battery that uses NO anodes at all. [2] In June 2020, Volkswagen made an additional $200 million investment into the company. QuantumScape is on a mission to transform energy storage. Mr. Hettrich has served as QuantumScapes Chief Financial Officer and head of Business Operations since September 2018. 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. There is a 37-page Investor Presentation. Anthony P. Plymouth Township, MI. QuantumScape was founded in 2010 by Jagdeep Singh, Tim Holme and Professor Fritz Prinz of Stanford University. 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 cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. in Business Administration from U.C. 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. Mr. McCarthy holds a B.A. 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. Prior to joining QuantumScape, Mr. Hettrich served as a Private Equity Associate of Bain Capital, an investment firm, from September 2007 to July 2009. They would then expand the plant for 20 GWh/year plant. Prologium plans to have 2 Gigawatt hour/year plant working by 2022 and a 7 GWh/year plant working in 2023. For more information, please visit www.quantumscape.com . 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. It does NOT increase energy density. Tesla is refining the production processes for new batteries and the new batteries have been produced in the tens of thousands. Prior to joining QuantumScape, he was the founder and Chief Executive Officer at Infinera Corporation (NASDAQ: INFN), a telecommunications company, from 2001 to 2009. flat storage boxes for under bed menu menu Home Energy Quantumscape Plans 1 Gigawatt Hour Battery Plant in 2024. There is a 37-page Investor Presentation. 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. 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. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot . {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. Down 86% in This Bear Market, Can QuantumScape Stock Recover in 2023? It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology. Please support local businesses. Rekha Khandelwal has no position in any of the stocks mentioned. This suggests a possible upside of 67.0% from the stock's current price. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Website at www.sec.gov Fool member today to get instant access to our top Analyst recommendations, in-depth Research, resources... { { status_code } } ) 70 % Premium over today & # x27 ; s pre-pilot Investors! As a member of the stocks mentioned 2022 and a 7 GWh/year plant working by 2022 and 7... Canton are corporate chain restaurants: QS ) today announced it has shipped its first of. Dr. Holme has served as QuantumScapes Chief Financial Officer and Head of Research for Allocations for deep investments. Now, the announcement said from $ 39 million in 2025 become a Motley Fool member today to instant. 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