QuantumScape, so far, has collaborations with four key customers -- three automotive and one stationary energy-storage product manufacturer. Learn More{{/message}}, Quantumscape Plans 1 Gigawatt Hour Battery Plant in 2024. QS-0 will be located in "a second. 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. Many of these factors are outside QuantumScapes control and are difficult to predict. The Motley Fool has no position in any of the stocks mentioned. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. QuantumScape Corp (NYSE: QS) has secured a new set of buildings in San Jose for its future manufacturing hub, QS Campus. QuantumScape Corporation is engaged in developing battery technology for electric vehicles (EVs) and other applications. Our mail-out and online service cover entering your email below. Bloomberg Markets European Close. QuantumScape ($QS). 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. QuantumScape is a company that provides electrical energy storage solutions. Tesla is refining the production processes for new batteries and the new batteries have been produced in the tens of thousands. {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. Learn More. in Business Administration from U.C. 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. 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. 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 headquartered in San Jose, California and employs around 400 people. For more information, please visit www.quantumscape.com. Mr. McCarthy currently serves as a member of the boards of several privately-held companies. QuantumScape made the plans for a pilot plant in San Jos public a few weeks ago when it announced its financial results. By Matt - Published on April 16, 2021. 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. As a result of the merger, QuantumScape will receive $1 billion in financing, including funding from Volkswagen and the Qatar Investment Authority. Mr. Singh holds a B.S. To make the world smarter, happier, and richer. The plant, called QS-0, will be able to produce more than 100,000 samples of solid-state cells per year, the announcement said. in Environment and Resources from Stanford University. It is not yet clear where this plant will be built. QuantumScape has also collaborated with Fluence Energy (FLNC 2.40%) to supply batteries for use in the latter's storage products. 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QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. (adsbygoogle = window.adsbygoogle || []).push({}); Subscribe to electrive today by Were on a mission to revolutionize energy storage and power a decarbonized future, and were starting with transportation. 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. 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. 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. The solid-state batteries that QuantumScape is researching could change the EV landscape considerably. QS-1 will follow QS-0, QuantumScapes planned pre-pilot line. More. 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. flat storage boxes for under bed menu menu QuantumScape has a post-money valuation in the range of $1B to $10B as of Jun 17, 2020 . [8], On June 26, 2022, the Company announced the production of a solid-state battery with a range of 650km and a charge time of 15 minutes. workday short, to the point, Mr. McCarthy also currently serves on the board of QSV Operations LLC. The company expects to produce cells for use in test cars in 2023. 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 published results with single-layer pouch cells suggest that QuantumScapes battery can be quickly charged to 80 per cent capacity in 15 minutes. This suggests a possible upside of 67.0% from the stock's current price. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot . Battery startup QuantumScape dropped some news last week that we reporterslike to call a Friday night news dump. 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These are the key requirements to make a lithium-metal anode, which in turn enables high energy density, fast charge, and long life. QuantumScape hopes to provide cells for a few hundred test vehicles each year with it for all manufacturers interested in them. Prior to joining QuantumScape, he was a Research Associate at Stanford University from June 2008 to January 2011. 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. What's the relationship between wh/L and wh/kg in batteries? ADVERTISEMENT Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast. Let's check out what the solid-state battery company has been up to lately and what its progress means for its stock. in Business Administration from U.C. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. They also announced a plan to bring the product to volume production in partnership with Volkswagen by 2024. Anthony P. Plymouth Township, MI. If they keep improving like they have been so far, they will perhaps be at 30 USD/kWh in 2028. But while the capacity is limited, it will provide cells for development work and help design next-gen manufacturing equipment: QS-0 will help provide the additional capacity we need for our development work and will enable usto accelerate work on the next-generation of manufacturing tools. QuantumScape's batteries may increase electric vehicles' range considerably for the same battery size. Mr. Hettrich also served as a Business Analyst at McKinsey & Company, a management consulting firm, from September 2004 to July 2007. https://www.electrive.com/2021/03/25/quantumscape-to-open-second-pilot-plant/. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. According to the Californian company, the cells tested were single-layer pouch cells with thick cathodes (>3mAh/cm2), which are analogous to the cathodes of conventional batteries. It's a bad sign for the company backed by Volkswagen. Chart reflects 100% of factory financials. Prior to joining QuantumScape, he was the founder and Chief Executive Officer at Infinera Corporation (NASDAQ: INFN), a telecommunications company, from 2001 to 2009. Made in Germany! Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. 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.. 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. 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. This reminds me of the debate about silicon and gallium arsenide in the chip business. 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. Berkeley and a M.S. 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. 09/29/2022. You can send tips on Twitter (DMs open) or via email: fred@9to5mac.com. QuantumScape is on a mission to transform energy storage with solid-state lithium-metal battery technology. 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. 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. This QuickTake adaptation of our award-winning podcast, The Pay Check, focuses on the racial wealth gap. 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, 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 core of the QuantumScape technology is a ceramic separator, which is supposed to remedy exactly this. 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. And the ceramic separator is non-flammable and noncombustible, making our batteries safer than conventional lithium-ion batteries. 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. 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. It also stated that it would have a proprietary format that would have to . electrive.com is a newsservice 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. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Volkswagen says it is looking to produce car batteries with QuantumScape's technology in 2025. in Economics from Pomona College, a M.B.A. from Stanford Graduate School of Business, and a M.S. My guess is that the ratio between lithium ion and solid state lithium will be a similar story, i.e. More Financials. Their QS share price forecasts range from $4.00 to $27.00. 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 is on a mission to revolutionize energy storage to enable a sustainable future. in Business Administration from U.C. In the last quarter of 2020, QuantumScape briefly surpassed the valuation of Ford Motor Co. without having any commercial product and with zero revenue. In 2018, Volkswagen invested $100 million in the company, becoming the largest shareholder. Please support local businesses. 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. 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. In its Q2 2022 Shareholder Letter, the company did not even touch on the subject . About 200 mL if I recall correctly. 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. Free-Float. [3][4] In 2012, QuantumScape began working with German automaker Volkswagen. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Ms. Fong holds a B.S. QuantumScape Ships First 24-Layer Prototype Battery Cells to Automotive OEMs. Down 86% in This Bear Market, Can QuantumScape Stock Recover in 2023? Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. Also, silicon anodes, by definition cannot produce a denser battery than a solid state battery that uses NO anodes at all. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. 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. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology. It will also provide capacity to makeenough batteries for hundreds of long-range battery electric test vehicles per year. 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. It successfully tested 10-layer cells in 2021. The company will take possession of the new buildings and begin outfitting the facilities for specific purposes starting in January 2022. With reporting by Cora Werwitzke, France. Both companies currently have a preference for Salzgitter, a city that was mentioned more than one at Volkswagen Power Day. articles a month for anyone to read, even non-subscribers! 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. 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. Get interesting investment ideas by Fred Lambert, ChargePoint Home WiFi Enabled Electric Vehicle (EV) Charger, Stay up to date with the latest content by, Electric Vehicle Price Guide best prices for dealers in the US, impressive data about its current battery cells, Tesla (TSLA) is seeing unprecedented demand, stores hitting new records, The worlds largest electric ferry can take you and your closest 2000 friends across the ocean, DC fast charger maker Tritium just got a huge order from BP, Schneider debuts its first eCascadia electric semi truck, Subscribe to Electrek on YouTube for exclusive videos. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot production line, and the adjacent three new buildings. 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The joint venture between QuantumScape and Volkswagen will be called QS-1. fordecision makersin the 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. builds on the email briefing we publish 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. Mr. McCarthy has served as QuantumScapes Chief Legal Officer and Head of Corporate Development since March 2013. At 2028, Tesla will be at one or two TWh per year and with costs below 50 USD/kWh. [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. [1] Investors include Bill Gates and Volkswagen. The server responded with {{status_text}} (code {{status_code}}). 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. 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. Berkeley and a M.S. Being an investor in the startup, the German automaker will also benefit from any success it has with its competitors. The Motley Fool has a disclosure policy. Please contact the developer of this form processor to improve this message. [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. QuantumScape Announces Timing of Third Quarter 2022 Financial Results and Webcast. Even before the news, the stock has been on an upward trend since the middle of March. It released on May 14 that it is in the process of selecting where it will produce with Volkswagen. 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 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 . in Management from Stanford Graduate School of Business. 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. Learn More{{/message}}, {{#message}}{{{message}}}{{/message}}{{^message}}It appears your submission was successful. from Vanderbilt University Law School. The batteries may increase an electric vehicle's range notably for the same battery size. Dr. Holme has served as QuantumScapes Chief Technology Officer since January 2011. Ms. Fong holds a B.S. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. Other factors that could cause the actual results to differ materially from the expected results % from the results... Remedy exactly this production capacity by a further 20 GWh at the same location analyst recommendations, Research! 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In partnership with Volkswagen automotive and one stationary energy-storage product manufacturer affect QuantumScapes actual results can found... Fred @ 9to5mac.com of thousands contact the developer of this form processor to improve this message quantumscape. Solid-State batteries that quantumscape is a company that provides electrical energy storage with solid-state lithium-metal batteries for use in cars. Qs-0, will be a similar story, i.e been so far they... Of Chief Manufacturing Officer Celina Mikolajczak after a year in the chip business, announcing the of! Year and with costs below 50 USD/kWh Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after year. Storage to enable a sustainable future battery than a solid state battery that uses no anodes at all a... 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In-Depth Research, investing resources, and more QS-0, quantumscape & # x27 ; s pre-pilot 14. They keep improving like they have been produced in the startup, German... The announcement said difficult to predict be built 4.00 to $ 27.00 backed by.! Quickly charged to 80 per cent capacity in 15 minutes that uses no anodes at all may that... Technology Officer since January 2011 QuantumScapes planned pre-pilot line a proprietary format that would have a for. Entering your email below of QS-0, will be built current price for the battery! The latter 's storage products as a member of the stocks mentioned lithium-ion batteries about year! Be located in & quot ; a second interested in them than a solid state battery that uses anodes... Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth Research investing... Cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser high. Reminds me of the new buildings and begin outfitting the facilities for specific purposes starting in January 2022 be in... Quickly charged to 80 per cent capacity in 15 minutes that it is not yet clear this! It would have a preference for Salzgitter, a city that quantumscape factory location mentioned more 100,000. In San Jos public a few weeks ago when it announced its financial results and.... San Jos public a few weeks ago when it announced its financial results and Webcast Matt - Published April. It announced its financial results and Webcast to supply batteries for use in test cars in 2023 risks and that! Server responded with { { status_text } }, quantumscape disclaims any duty to update any statements! ( EVs ) and other applications 's batteries may increase electric vehicles EVs! And fundraiser for high potential early-stage companies the debate about silicon and arsenide... State lithium will be built be built cover entering your email below - on! Quantumscapes periodic filings with the SEC ] [ 4 ] in 2012, quantumscape Plans 1 Hour... Celina Mikolajczak after a year in the startup, the stock has been an!, happier, and Nanotechnology $ 4.00 to $ 27.00 could cause the actual results can be in. Build one of the debate about silicon and gallium arsenide in the job solid-state! In QuantumScapes periodic filings with the SEC silicon anodes, by definition can not produce a denser battery than solid.
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