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. 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. One of these is a top 10 global auto manufacturer by revenue, and the other is a luxury auto company. 09/29/2022. It is not yet clear where this plant will be built. They also announced a plan to bring the product to volume production in partnership with Volkswagen by 2024. 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. 10/12/2022. Berkeley and a M.S. QuantumScape has been promising to present not only a solid-state platform that will work with any lithium-ion chemistry. 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. It's a bad sign for the company backed by Volkswagen. 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. 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 new campus comprises the current site of QS-0, QuantumScape's pre-pilot production line, and the adjacent three new buildings. The expanded plant would start producing in 2027. 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. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot . in Business Administration from U.C. in Business Administration from U.C. Anthony P. Plymouth Township, MI. 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. Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. Many of these factors are outside QuantumScapes control and are difficult to predict. electric mobilityindustry. QS-0 will be located in "a second. In the same year, Volkswagen and QuantumScape announced the establishment of a joint production project to prepare for mass production of solid state batteries. It already houses Volkswagens first recycling plant, which started to operate in January. [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. QuantumScape Announces Timing of Third Quarter 2022 Financial Results and Webcast. I was having difficulty seeing a litre of lithium. Their financials show they expect to make about $70/kwh from the batteries they make in 2028. The new plant in Livonia, Mich. is expected to expand A123's manufacturing capabilities . 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. 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. Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. This should start in the second half of 2024 with the help of Volkswagen. [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. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. Fred is the Editor in Chief and Main Writer at Electrek. Apart from Volkswagen (VWAGY -0.29%), QuantumScape is collaborating with two other auto original equipment manufacturers (OEMs). As a result of the merger, QuantumScape will receive $1 billion in financing, including funding from Volkswagen and the Qatar Investment Authority. And the ceramic separator is non-flammable and noncombustible, making our batteries safer than conventional lithium-ion batteries. Bloomberg Markets European Close. 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. [6] This QuickTake adaptation of our award-winning podcast, The Pay Check, focuses on the racial wealth gap. 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 hasn't disclosed the names of these two auto companies. "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. QuantumScape was founded in 2010 by Jagdeep Singh, Tim Holme and Professor Fritz Prinz of Stanford University. Making the world smarter, happier, and richer. 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. Prior to joining QuantumScape, Mr. Hettrich served as a Private Equity Associate of Bain Capital, an investment firm, from September 2007 to July 2009. The published results with single-layer pouch cells suggest that QuantumScapes battery can be quickly charged to 80 per cent capacity in 15 minutes. Its proprietary solid-state battery design requires a major capital raise for. The team listed the properties the material would need to have: 1) resist dendrites. Our mail-out and online service cover Initially, it will have a 1 GWh production capacity. The Technology Drive location, which totals 87,100. Come join us on our mission as we revolutionize energy storage to enable a sustainable future. . The pilot line will be based in San Jose and will be called QS0. 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 solid-state battery startup expects to be able to produce 200,000 cells. The company now needs to develop multilayered cells with commercial dimensions while adding several more layers. Please support local businesses. It will also provide capacity to makeenough batteries for hundreds of long-range battery electric test vehicles per year. The final cells used in vehicles may need several dozen layers in each battery pack. May 17, 2021 at 8:31am ET By: Gustavo Henrique. 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. At 2028, Tesla will be at one or two TWh per year and with costs below 50 USD/kWh. 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 . articles a month for anyone to read, even non-subscribers! Mr. McCarthy currently serves as a member of the boards of several privately-held companies. This will not happen. The companies currently contemplate Salzgitter, Germany for the location. 10/26/2022. ADVERTISEMENT However, the industry has several challenges to overcome in order to make solid-state viable, and QuantumScape claims to have solved them all. 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. Even before the news, the stock has been on an upward trend since the middle of March. The full-sized plant would have 2 to 4 times the capacity of the first expanded plant. 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 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 full-sized plant would also be built and start production in 2027. 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. 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. As a. 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 also currently serves on the board of QSV Operations LLC. 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. QuantumScape said it has begun shipping "A0" samples of its battery cells to its automaker clients. Its goal is not to be a manufacturing marvel but rather to supply engineering cells for prototypes. The future is solid. Mr. Singh joined the QuantumScape Board in May 2010. How Is That a Good Thing? fordecision makersin the VW ID. in Computer Science from Stanford University. Being an investor in the startup, the German automaker will also benefit from any success it has with its competitors. Prior to joining QuantumScape, he was the Chief Administrative Officer at Infinera Corporation from April 2003 to March 2013. Our solid-state lithium-metal battery technology is designed to deliver efficient, reliable, safe and cost-effective energy storage to support the transition away from legacy energy sources toward a lower carbon future. Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. Latest updates There is a 37-page Investor Presentation. 12/8/2022. 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. 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. Ms. Fong holds a B.S. Expansion to three new facilities to scale advanced manufacturing capabilities. 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. Delivery of these cells, referred to as A0 samples, was the company's key public milestone for the year, and achieving this goal represents an important step toward the commercialization of this technology. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels. QuantumScape expects to produce cells for use in test cars in 2023 and start commercial production in 2024. 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. Additional information concerning these and other factors that could materially affect QuantumScapes actual results can be found in QuantumScapes periodic filings with the SEC. 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 is a leader in developing next-generation solid-state lithium-metal batteries for use in electric vehicles. 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. electrive.com is a newsservice These are the key requirements to make a lithium-metal anode, which in turn enables high energy density, fast charge, and long life. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. 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. Includes costs for planning, FAT / SAT, and start-up; excludes maintenance capex and interest expense. In connection with the joint venture, there is also talk of a second pilot plant. The expected proceeds of $859 million are to be invested in the companys planned pilot plant and in the joint venture with Volkswagen. 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