Cost basis and return based on previous market day close. 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. 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. In 2025, Prologium plans to reach 900 Wh/L batteries. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. Tesla has made its new batteries into a structural slab on the base of the car. The new campus comprises the current site of QS-0, QuantumScapes pre-pilot production line, and the adjacent three new buildings. After the new announcements from the stock exchange release and the new share issue, these statements may already be outdated. Its solid-state battery cell technology has an energy density, enhanced safety, fast charging capability, and small size. As Jagdeep Singh told Sandy Munro, Volkswagen is pretty aware that the deal with QuantumScape is not exclusive. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. Additionally, the company needs to minimize volume manufacturing costs. Mr. Hettrich is QuantumScapes Chief Financial Officer. Qatar Investment Authority and Fidelity Management and Research Company are the most recent investors. New battery technology needs to be able to reach $10 per kwh and scale to terawatt-hours per year by 2030 to displace lithium-ion with silicon anodes. QuantumScape ($QS). 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.. EV battery startup QuantumScape has leased a massive production site in San Jose, hinting at the company's intent to bring its "groundbreaking" solid . 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. fordecision makersin the in Management from Stanford Graduate School of Business. That would prevent it's use as a structural battery due to size changes. Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. QuantumScape's cells use a solid-state separator in place of the porous separators used in conventional lithium-ion batteries. May 17, 2021 at 8:31am ET By: Gustavo Henrique. This will not happen. 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 Corporation (NYSE:QS) today announced it has shipped its first 24-layer prototype lithium-metal battery cells to automotive OEMs for testing. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels. 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. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. a wide range of relevant stories and Please contact the developer of this form processor to improve this message. The core of the QuantumScape technology is a ceramic separator, which is supposed to remedy exactly this. 5 min read. Their QS share price forecasts range from $4.00 to $27.00. Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. 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. Dr. Holme has served as QuantumScapes Chief Technology Officer since January 2011. The solid-state battery specialist also plans to invest part of the proceeds in its joint venture with Volkswagen. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. 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. QuantumScape was founded in 2010. Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. 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. The industry-facing website 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. 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. As a result of the merger, QuantumScape will receive $1 billion in financing, including funding from Volkswagen and the Qatar Investment Authority. Were on a mission to revolutionize energy storage and power a decarbonized future, and were starting with transportation. Being an investor in the startup, the German automaker will also benefit from any success it has with its competitors. These samples are nearly full-size prototypes that will allow the automakers to test and begin . Tesla dry cells and silicon anodes mean that solid-state batteries will not be able to beat advanced lithium-ion on energy density. VW ID. 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. 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. 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. QuantumScape developed the industrys first anode-less cell design, which delivers high energy density while lowering material costs and simplifying manufacturing. Mr. Singh is QuantumScapes Chief Executive Officer and Chairman of the Board of Directors. 7 analysts have issued 12 month price targets for QuantumScape's stock. In addition, the solid-state battery does not have a classic anode. QuantumScape Corporation is engaged in developing battery technology for electric vehicles (EVs) and other applications. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The published results with single-layer pouch cells suggest that QuantumScapes battery can be quickly charged to 80 per cent capacity in 15 minutes. SOURCES Quantumscape, Prologium Moneyball Medium QuantumScape Publishes Inaugural Environmental, Social and Governance Report . 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. ADVERTISEMENT Find one worth sharing. Company. 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. 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. 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. Both cells start to work after lithium plating that happens between the ceramic separator and a metal foil - which QuantumScape names as "anode electrical contact - the first time they are. The company will take possession of the new buildings and begin outfitting the facilities for specific purposes starting in January 2022. The companies currently contemplate Salzgitter, Germany for the location. 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. While one would be hard-pressed to argue that the nearly 70% premium over today's price. 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. Berkeley and a M.S. A full-sized plant would also be built and start production in 2027. 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. Please support local businesses. [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. It intends to accelerate the commercialization of solid-state batteries for e-mobility. Rekha Khandelwal has no position in any of the stocks mentioned. Battery startup QuantumScape dropped some news last week that we reporterslike to call a Friday night news dump. Mr. Singh holds a B.S. More Financials. 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. The short story is that they claim to have solved the solid-state battery problem. 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. Making the world smarter, happier, and richer. QuantumScape completed its 2021 milestones as planned. 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