Dr. Holme has served as QuantumScapes Chief Technology Officer since January 2011. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot production line, and the adjacent three new buildings. QuantumScape was founded in 2010. 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. Let's check out what the solid-state battery company has been up to lately and what its progress means for its stock. EV battery startup QuantumScape has leased a massive production site in San Jose, hinting at the company's intent to bring its "groundbreaking" solid . An expansion of capacity by more than double would thus lead to an output of more than 200,000 samples. As a result of the merger, QuantumScape will receive $1 billion in financing, including funding from Volkswagen and the Qatar Investment Authority. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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 . [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. Solid-state batteries have long been known to have the potential for higher capacity than conventional li-ion batteries with liquid electrolytes. QuantumScape is on a mission to transform energy storage with solid-state lithium-metal battery technology. 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. *Average returns of all recommendations since inception. 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. 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. Apparently, it will be the companys manufacturing headquarters for batteries. QuantumScape Corporation (NYSE:QS) today announced it has shipped its first 24-layer prototype lithium-metal battery cells to automotive OEMs for testing. What's the relationship between wh/L and wh/kg in batteries? The luxury auto company could possibly be Porsche. How Is That a Good Thing? The company expects to produce cells for use in test cars in 2023. Fred is the Editor in Chief and Main Writer at Electrek. Made in Germany! 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. insideevs.com,electrek.co,techcrunch.com,ir.quantumscape.com,sec.report. Its goal is not to be a manufacturing marvel but rather to supply engineering cells for prototypes. Rekha Khandelwal has no position in any of the stocks mentioned. Solid-state battery maker QuantumScape has announced a plan to build a new pilot battery production factory in California. QuantumScape's batteries may increase electric vehicles' range considerably for the same battery size. Additionally, the company needs to minimize volume manufacturing costs. 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. With reporting by Cora Werwitzke, France. The companies currently contemplate Salzgitter, Germany for the location. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. Volkswagen says it is looking to produce car batteries with QuantumScape's technology in 2025. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. 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. 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. As a. The QS-1 will follow QS-0, which is an independent enterprise from QuantumScape. In the last quarter of 2020, QuantumScape briefly surpassed the valuation of Ford Motor Co. without having any commercial product and with zero revenue. [3][4] In 2012, QuantumScape began working with German automaker Volkswagen. 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. QuantumScape Publishes Inaugural Environmental, Social and Governance Report . 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. His blog Nextbigfuture.com is ranked #1 Science News Blog. in Management from Stanford Graduate School of Business. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. All we have mostly in Canton are corporate chain restaurants. 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. This is formed from pure lithium metal as soon as the battery is charged. The final cells used in vehicles may need several dozen layers in each battery pack. In concrete terms, the latter should be possible in San Jos from 2023. "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. 7 analysts have issued 12 month price targets for QuantumScape's stock. This suggests a possible upside of 67.0% from the stock's current price. Their financials show they expect to make about $70/kwh from the batteries they make in 2028. Finally a legit, authentic taco restaurant in Canton. 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. Also, silicon anodes, by definition cannot produce a denser battery than a solid state battery that uses NO anodes at all. The deal should result in a valuation of $3.3 billion and leave Quantumscape with over $1 billion to fund its factory and plans. After a Scorpion Capital report claimed QuantumScape was a pump-and-dump SPAC scam, the solid-state battery startup could not seem to care less. 5 min read. QuantumScape hopes to provide cells for a few hundred test vehicles each year with it for all manufacturers interested in them. Quantumscape claims it has succeeded in optimising the lithium metal solid-state battery through ten years of development work in such a way that all aspects from high energy density, fast-charging capability and long service life to safety and realistic operating temperature are guaranteed. Free-Float. QuantumScape Corp. ( QS) stock's 93% plunge makes it a vulnerable acquisition target if shares fail to recover soon. QuantumScape may have suffered a blow recently after it lost its chief manufacturing officer, Celina Mikolajczak. Tried the pastor, carnitas and steak tacos. Berkeley and a M.S. Cost basis and return based on previous market day close. Please contact the developer of this form processor to improve this message. The new research and manufacturing site is dramatically larger than QuantumScape's current headquarters at 1730 Technology Drive in San Jose. Date: May 4 Amount: $103.8 million. 10/26/2022. Tesla has already spent a few years, billions on acquisitions and R&D on the new batteries and factory technology revealed at battery day. We are thrilled to see QuantumScapes investment in our community and their commitment to bringing advanced battery development and local manufacturing jobs to North San Jose.. The joint venture between QuantumScape and Volkswagen will be called QS-1. The expected proceeds of $859 million are to be invested in the companys planned pilot plant and in the joint venture with Volkswagen. 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. across Europe and beyond. By Matt - Published on April 16, 2021. 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. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. QuantumScape Reports Third Quarter 2022 Business and Financial Results. Prologium plans to have 2 Gigawatt hour/year plant working by 2022 and a 7 GWh/year plant working in 2023. It has been claimed that solid-state batteries would enable Volkswagen and Toyota to leapfrog Tesla battery technology. One of these is a top 10 global auto manufacturer by revenue, and the other is a luxury auto company. The full-sized plant would have 2 to 4 times the capacity of the first expanded plant. 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 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. 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, which was founded in 2010, went public via a merger with a special-purpose acquisition company, or SPAC. Mr. McCarthy holds a B.A. QuantumScape Corp (NYSE: QS) has secured a new set of buildings in San Jose for its future manufacturing hub, QS Campus. 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. After testing and validating QuantumScape's cells, these companies intend to use them in their vehicles. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. 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 pilot-line facility, QS-1, will initially be a 1-gigawatt . QuantumScape is on a mission to transform energy storage. 59,9%. The expanded plant would start producing in 2027. 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 and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. 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. 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, 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,. If the battery were really dense, it would take up less room in a device even if the weight necessary were still kind of high. The Wolfsburg company will then have the right to become the first customer for the new batteries based on solid-state technology. Considering QS-1 will apparently be just in the same city but not the same plant, were more inclined to the second hypothesis. a wide range of relevant stories and 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 will take possession of the new buildings and begin outfitting the facilities for specific purposes starting in January 2022. Price as of January 18, 2023, 11:16 a.m. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. 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. in Mechanical Engineering, and a Ph.D. in Mechanical Engineering from Stanford University. entering your email below. Latest updates Were on a mission to revolutionize energy storage and power a decarbonized future, and were starting with transportation. Prior to joining QuantumScape, he was a Research Associate at Stanford University from June 2008 to January 2011. QuantumScapes new facilities will also house additional research and development and office space to accommodate hundreds of new employees. Learn More{{/message}}, Quantumscape Plans 1 Gigawatt Hour Battery Plant in 2024. In all, QuantumScape could already be delivering its batteries to auto OEMs successfully three years from now. The company is on a mission to revolutionize energy storage to enable a sustainable future. 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. A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. 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. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. builds on the email briefing we publish At 2028, Tesla will be at one or two TWh per year and with costs below 50 USD/kWh. They were excellent and well made. After the new announcements from the stock exchange release and the new share issue, these statements may already be outdated. If batteries cost $50 per kwh in 2024 then selling all of the production at a fully ramped pilot plant would make $50 million per year. This helps increase the volumetric density of the cell. More Financials. The company is headquartered in San Jose, California and employs around 400 people. https://www.electrive.com/2021/03/25/quantumscape-to-open-second-pilot-plant/. For more information, please visit www.quantumscape.com. flat storage boxes for under bed menu menu 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. 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.. [9][10] The battery was claimed to offer an energy density of 1kWh/L or 380-500 Wh/kg. For more information, please visit www.quantumscape.com . In 2018, Volkswagen invested $100 million in the company, becoming the largest shareholder. (adsbygoogle = window.adsbygoogle || []).push({}); Solid-state battery specialist QuantumScape plans to issue 13 million new shares. The pilot line will be based in San Jose and will be called QS0. 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 factory will make early production versions of the company's advanced electric. 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. 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. "Tesla dry cells and silicon anodes mean that solid-state batteries will not be able to beat advanced lithium-ion on energy density.". Their QS share price forecasts range from $4.00 to $27.00. 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. 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. Both companies currently have a preference for Salzgitter, a city that was mentioned more than one at Volkswagen Power Day. and free of charge. Find one worth sharing. VW ID. The companies currently contemplate Salzgitter, Germany for the location. QuantumScape is an American company that develops solid state lithium metal batteries for electric cars. The Motley Fool has a disclosure policy. 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. 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. 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. Expansion to three new facilities to scale advanced manufacturing capabilities. In a presentation last year, QuantumScape unveiled impressive data about its current battery cells that has never been seen in solid-state batteries before. QuantumScape Corporation is engaged in developing battery technology for electric vehicles (EVs) and other applications. The company believes that its solid-state batteries will be far more energy-dense than the lithium-ion batteries in use right now. Source: QuantumScape via Green Car Congress. As Jagdeep Singh told Sandy Munro, Volkswagen is pretty aware that the deal with QuantumScape is not exclusive. The solid-state batteries that QuantumScape is researching could change the EV landscape considerably. QuantumScape has also collaborated with Fluence Energy (FLNC 2.40%) to supply batteries for use in the latter's storage products. 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. Singh holds a B.S. 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. 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. In concrete terms, the latter should be possible in San Jos from 2023. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot . 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. Five years from now, the company expects to have a . The plant, called QS-0, will be able to produce more than 100,000 samples of solid-state cells per year, the announcement said. Tesla is refining the production processes for new batteries and the new batteries have been produced in the tens of thousands. SAN JOSE, Calif.-- QuantumScape Corporation (NYSE: QS), a leader in the development of next-generation solid-state lithium-metal batteries for use in electric vehicles, today announced the release of an independent third-party laboratory testing report on the performance of its solid-state lithium-metal battery cells. The Motley Fool has no position in any of the stocks mentioned. Is the quantumscape battery as shown in the slide suggesting that it physically expands when charged? 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. Mr. McCarthy also currently serves on the board of QSV Operations LLC. QuantumScape is a company that provides electrical energy storage solutions. (adsbygoogle = window.adsbygoogle || []).push({}); Subscribe to electrive today by [1] Investors include Bill Gates and Volkswagen. Type Public Status Active Founded 2010 HQ Density of the stocks mentioned marvel but rather to supply batteries for use in the job for! The quantumscape battery as shown in the joint venture with Volkswagen make early production versions the! Stanford University cars in 2023 an output of more than 200,000 samples pilot production. 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