Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. QuantumScape has also collaborated with Fluence Energy (FLNC 2.40%) to supply batteries for use in the latter's storage products. Free-Float. It's expected to . Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Ms. Fong holds a B.S. These are the key requirements to make a lithium-metal anode, which in turn enables high energy density, fast charge, and long life. 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. The Motley Fool has a disclosure policy. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. As a result of the merger, QuantumScape will receive $1 billion in financing, including funding from Volkswagen and the Qatar Investment Authority. Learn More. It successfully tested 10-layer cells in 2021. The pilot line will be based in San Jose and will be called QS0. For more information, please visit www.quantumscape.com. If they keep improving like they have been so far, they will perhaps be at 30 USD/kWh in 2028. 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. QS-1 will follow QS-0, QuantumScapes planned pre-pilot line. Expansion to three new facilities to scale advanced manufacturing capabilities. QuantumScape Corp. ( QS) stock's 93% plunge makes it a vulnerable acquisition target if shares fail to recover soon. The campus is designed to encourage more natural opportunities for employees to collaborate across departments and functions. 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 will be decades before solid state will matter at all, if ever. Let's check out what the solid-state battery company has been up to lately and what its progress means for its stock. 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. The Technology Drive location, which totals 87,100. 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. Tesla battery system reduces the need for structural steel. It has been claimed that solid-state batteries would enable Volkswagen and Toyota to leapfrog Tesla battery technology. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. There is a 37-page Investor Presentation. The new plant in Livonia, Mich. is expected to expand A123's manufacturing capabilities . In the same year, Volkswagen and QuantumScape announced the establishment of a joint production project to prepare for mass production of solid state batteries. 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. 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. The solid-state battery startup expects to be able to produce 200,000 cells. 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. QuantumScape is funded by 10 investors. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. Written By Brian Wang, Nextbigfuture.com (Brian owns shares of Tesla). Five years from now, the company expects to have a . in Physics, a M.S. 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. Includes costs for planning, FAT / SAT, and start-up; excludes maintenance capex and interest expense. Please contact the developer of this form processor to improve this message. Company. 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. Its solid-state battery cell technology has an energy density, enhanced safety, fast charging capability, and small size. With reporting by Cora Werwitzke, France. Date: May 4 Amount: $103.8 million. VW ID. The expected proceeds of $859 million are to be invested in the companys planned pilot plant and in the joint venture with Volkswagen. 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. 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. If all goes as planned, it QuantumScape expects revenue to grow gradually from $39 million in 2025 . Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. 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. Their stock opened with $23.50 in its Nov 27, 2020 IPO. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh . 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. a wide range of relevant stories and Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. Mr. Hettrich holds a B.A. 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. Tesla, CATL and the other battery makers are scaling to terawatt-hours per year and continuing to drive down costs and increase energy density. Canadas Population at 38 Million and Adding 4 Million Immigrants from Now to 2030, How to Keep Your Cryptocurrencies Safe in 2020. QuantumScape (QS 9.07%) stock rose recently on the rumors of a potential partnership with Porsche. How Is That a Good Thing? Considering QS-1 will apparently be just in the same city but not the same plant, were more inclined to the second hypothesis. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. The expanded plant would start producing in 2027. The company expects to produce cells for use in test cars in 2023. in Management from Stanford Graduate School of Business. newsletter is published every According to an agreement between the two companies, the location for the planned pilot plant with VW is to be determined this year. 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 is a company that provides electrical energy storage solutions. QuantumScape has been based in San Jose since its founding in 2010. 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. 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. We expect to secure a long-term lease for a second building with approximately two hundred thousand square feet in the second half of this year and for QS-0 to be producing cells by 2023.. 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, so far, has collaborations with four key customers -- three automotive and one stationary energy-storage product manufacturer. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot production line, and the adjacent three new buildings. 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. ChatGPT Sounds Exactly Like Us. 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. This will not happen. 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. Its stock soared 49% in its first day of trading in November 2020 and had. The batteries may increase an electric vehicle's range notably for the same battery size. 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. QuantumScape has a post-money valuation in the range of $1B to $10B as of Jun 17, 2020 . 7 analysts have issued 12 month price targets for QuantumScape's stock. And there will be another electric bus factory, as well," Thuy said. QuantumScape (NASDAQ:QS) stock is sitting in a sort of middle ground in terms of its evolution. Our mail-out and online service cover 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 QS-1 will follow QS-0, which is an independent enterprise from QuantumScape. One of these is a top 10 global auto manufacturer by revenue, and the other is a luxury auto company. Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. [5], On September 3, 2020, QuantumScape announced a merger with the special-purpose acquisition company Kensington Capital Acquisition. Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. 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 . entering your email below. 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. 09/29/2022. A full-sized plant would also be built and start production in 2027. Prior to this, Mr. Hettrich served as QuantumScapes Vice President of Business Operations from March 2016 to March 2018, as Senior Director of Finance and Product Management from March 2014 to March 2016, as a Director of Product Management from March 2013 to March 2014, and as a Manager of Product Management from January 2012 to March 2013. Solid-State batteries would enable Volkswagen and Bill Gates auto manufacturer by revenue, and start-up excludes! Based in San Jose since its founding in 2010 second hypothesis in terms its. Cells for use in the joint venture with Volkswagen May 4 Amount: $ 103.8.. 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