By Matt - Published on April 16, 2021. Despite uncertainties, if things go according to QuantumScape's plans, the company could start pilot production of its batteries in 2024. 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 may have suffered a blow recently after it lost its chief manufacturing officer, Celina Mikolajczak. 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 is on a mission to transform energy storage. The lab at QuantumScape in San Jose, Calif., on Feb. 4, 2021. The expanded plant would start producing in 2027. Tesla, CATL and the other battery makers are scaling to terawatt-hours per year and continuing to drive down costs and increase energy density. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. 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. However, the industry has several challenges to overcome in order to make solid-state viable, and QuantumScape claims to have solved them all. Our mail-out and online service cover 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. An expansion of capacity by more than double would thus lead to an output of more than 200,000 samples. QuantumScape, so far, has collaborations with four key customers -- three automotive and one stationary energy-storage product manufacturer. It's expected to . In concrete terms, the latter should be possible in San Jos from 2023. Being an investor in the startup, the German automaker will also benefit from any success it has with its competitors. A full-sized plant would also be built and start production in 2027. [6] Mr. Hettrich has served as QuantumScapes Chief Financial Officer and head of Business Operations since September 2018. QuantumScape has been based in San Jose since its founding in 2010. 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. QS-1 will follow QS-0, QuantumScapes planned pre-pilot line. Prior to joining QuantumScape, he was the Chief Administrative Officer at Infinera Corporation from April 2003 to March 2013. This helps increase the volumetric density of the cell. They would then expand the plant for 20 GWh/year plant. In 2025, Prologium plans to reach 900 Wh/L batteries. in Business Administration from U.C. It will also provide capacity to makeenough batteries for hundreds of long-range battery electric test vehicles per year. /a > QuantumScape - Resources - Press Business Outlook Data presented vehicles to outperform internal combustion cars located in Jos., QuantumScape, it reflects investors ' 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 companies plan to begin a joint pilot program by 2023. 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. Mr. McCarthy holds a B.A. EV battery startup QuantumScape starts shipping prototype to automakers, a key milestone, CNBC, Battery Insiders Reflection Batteries, Data & Solid-State, Battery Associates, How VW Can Leap Over Tesla: QuantumScape CEO Interview, E For Electric, SAE Tomorrow Today, Transforming EV Batteries with Solid-State Energy, The New York Times, Advanced E.V. QuantumScape Reports Third Quarter 2022 Business and Financial Results. The companies currently contemplate Salzgitter, Germany for the location. [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. The company is on a mission to revolutionize energy storage to enable a sustainable future. 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. This suggests a possible upside of 67.0% from the stock's current 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. electric mobilityindustry. They will start building a pilot factory in about one year and that factory will produce 1 gigawatt-hour of batteries per year. 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. Berkeley and a M.S. Its stock soared 49% in its first day of trading in November 2020 and had. insideevs.com,electrek.co,techcrunch.com,ir.quantumscape.com,sec.report. The published results with single-layer pouch cells suggest that QuantumScapes battery can be quickly charged to 80 per cent capacity in 15 minutes. QuantumScape is registered under the ticker NYSE:QS . (adsbygoogle = window.adsbygoogle || []).push({}); Solid-state battery specialist QuantumScape plans to issue 13 million new shares. Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. Do you want to help build one of the most critical parts of the future energy economy? Includes costs for planning, FAT / SAT, and start-up; excludes maintenance capex and interest expense. More Financials. "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. Ms. Fong holds a B.S. The industry-facing website in Business Administration from U.C. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. Berkeley and a M.S. Five years from now, the company expects to have a . Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. The solid-state batteries that QuantumScape is researching could change the EV landscape considerably. 09/29/2022. Live from New York and London, analyzing the major market moving stories across the day in Europe, hear from the biggest newsmakers and showcase the unrivaled expertise of Bloomberg News. 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. 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. 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. You are buying everything these startups are telling you. in Environment and Resources from Stanford University. Mr. Singh is QuantumScapes Chief Executive Officer and Chairman of the Board of Directors. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. The company now needs to develop multilayered cells with commercial dimensions while adding several more layers. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. QuantumScape Announces Timing of Third Quarter 2022 Financial Results and Webcast. 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. Anthony P. Plymouth Township, MI. In connection with the joint venture, there is also talk of a second pilot plant. [9][10] The battery was claimed to offer an energy density of 1kWh/L or 380-500 Wh/kg. Berkeley and a M.S. Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. Called QS-0, the plant is expected to be capable of producing over 100,000 units of solid-state cells per year. Their financials show they expect to make about $70/kwh from the batteries they make in 2028. 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. The pilot line will be based in San Jose and will be called QS0. Quantumscape believes they can get battery energy density to 500 Wh/kg and a battery cost reduction of 17%. Find one worth sharing. After the new announcements from the stock exchange release and the new share issue, these statements may already be outdated. . The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. Tesla has made its new batteries into a structural slab on the base of the car. It successfully tested 10-layer cells in 2021. And there will be another electric bus factory, as well," Thuy said. The solid-state battery startup expects to be able to produce 200,000 cells. Finally a legit, authentic taco restaurant in Canton. Through Zalkon.com, you can check out Freds portfolio and get monthly green stock investment ideas. 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. 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. Solid-state battery developer QuantumScape Corp. (NYSE: QS) was a $54 billion stock just 18 months ago, but after an agonizing 93% decline in QS stock off a . The deal should result in a valuation of $3.3 billion and leave Quantumscape with over $1 billion to fund its factory and plans. The new plant in Livonia, Mich. is expected to expand A123's manufacturing capabilities . May 17, 2021 at 8:31am ET By: Gustavo Henrique. 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. 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. 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. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. If things go as per QuantumScape's plans, the company will have a huge market for its cells. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. If all goes as planned, it QuantumScape expects revenue to grow gradually from $39 million in 2025 . 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. QuantumScape is an American company that develops solid state lithium metal batteries for electric cars. 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. Mr. McCarthy also currently serves on the board of QSV Operations LLC. Were on a mission to revolutionize energy storage and power a decarbonized future, and were starting with transportation. Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast. In concrete terms, the latter should be possible in San Jos from 2023. 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. The short story is that they claim to have solved the solid-state battery problem. ADVERTISEMENT The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh . For Investors John Saager, CFA Head of Investor Relations ir@quantumscape.com in Computer Science from Stanford University. {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. in Business Administration from U.C. QuantumScape (QS -1.45%) stock rose recently on the rumors of a potential partnership with Porsche. Bloomberg Markets European Close. Since 2012, the company has been working with Volkswagen, which has invested $300 million in the project as QuantumScape meets key performance metrics for solid state batteries. Please support local businesses. This QuickTake adaptation of our award-winning podcast, The Pay Check, focuses on the racial wealth gap. One of these is a top 10 global auto manufacturer by revenue, and the other is a luxury auto company. Dr. Holme is QuantumScapes Chief Technology Officer. His blog Nextbigfuture.com is ranked #1 Science News Blog. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. To make the world smarter, happier, and richer. As Jagdeep Singh told Sandy Munro, Volkswagen is pretty aware that the deal with QuantumScape is not exclusive. Down 86% in This Bear Market, Can QuantumScape Stock Recover in 2023? Solid-state battery maker QuantumScape has announced a plan to build a new pilot battery production factory in California. It has been claimed that solid-state batteries would enable Volkswagen and Toyota to leapfrog Tesla battery technology. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. Source: QuantumScape via Green Car Congress. Home Energy Quantumscape Plans 1 Gigawatt Hour Battery Plant in 2024. Our goal has been to bring our solid-state lithium-metal batteries to market as soon as possible, said Jagdeep Singh, CEO and co-founder of QuantumScape. It is no longer the controversial special purpose acquisition company (SPAC) electric vehicle. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. 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. What's the relationship between wh/L and wh/kg in batteries? QuantumScape Corp. ( QS) stock's 93% plunge makes it a vulnerable acquisition target if shares fail to recover soon. Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. Mr. Singh co-founded QuantumScape and has served as its Chief Executive Officer since QuantumScapes incorporation in May 2010. 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.. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. They also announced a plan to bring the product to volume production in partnership with Volkswagen by 2024. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. The companys mission is to revolutionize energy storage to enable a sustainable future. Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. In the same year, Volkswagen and QuantumScape announced the establishment of a joint production project to prepare for mass production of solid state batteries. 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. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot . Its solid-state battery cell technology has an energy density, enhanced safety, fast charging capability, and small size. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology. The new site in North San Jose is minutes from its current location, which will retain its central role in the companys research and development activities. 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. flat storage boxes for under bed menu menu QuantumScape is an American company that develops solid state lithium metal batteries for electric cars. QuantumScape And VW Are Selecting Where To Make Solid-State Cells Salzgitter is so far the location with more chances to produce these batteries. Mr. Singh joined the QuantumScape Board in May 2010. Salzgitter will be where the German carmaker will have its first 40 GWh gigafactory in Europe. The Companys batteries are designed to enable longer range . 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 plant, called QS-0, will be able to produce more than 100,000 samples of solid-state cells per year, the announcement said. QuantumScape is a company that provides electrical energy storage solutions. 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. Note, 50 USD/kWh assumes that Tesla will not improve at all between 2022 and 2028.. Fred is the Editor in Chief and Main Writer at Electrek. The final cells used in vehicles may need several dozen layers in each battery pack. in Management from Stanford Graduate School of Business. 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. The core of the QuantumScape technology is a ceramic separator, which is supposed to remedy exactly this. [3][4] In 2012, QuantumScape began working with German automaker Volkswagen. For decades, it was claimed that silicon was "running out of speed" and that a switch to GaAs was about to happen in a few years. [1] Investors include Bill Gates and Volkswagen. Lithium-ion batteries are at the heart of the next transportation revolution, but in the technologys current form, they fall short of meeting the needs of drivers in key areas like battery life, charging speed and cost. This will involve selling the vehicles in North America rather than exporting them. Also, silicon anodes, by definition cannot produce a denser battery than a solid state battery that uses NO anodes at all. Prior to joining QuantumScape, he was a Research Associate at Stanford University from June 2008 to January 2011. The company believes that its solid-state batteries will be far more energy-dense than the lithium-ion batteries in use right now. The Technology Drive location, which totals 87,100. As QuantumScape embarked on the search for a solid electrolyte, Singh and Holme went back to the drawing board. The Motley Fool has no position in any of the stocks mentioned. Our innovative battery cell technology can store energy more efficiently and reliably than todays lithium-ion batteries. Is the quantumscape battery as shown in the slide suggesting that it physically expands when charged? Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. Would highly recommend coming here. About 200 mL if I recall correctly. Although the company is building out its first factory in California, with production likely to start around 2024, meaningful sales are only likely in around four or five years, over which a lot. QuantumScape hopes to provide cells for a few hundred test vehicles each year with it for all manufacturers interested in them. The factory will make early production versions of the company's advanced electric. QuantumScape plans to spend between $230 million and $290 million this year to continue the development of its battery cells and build the QS-0 factory. It also stated that it would have a proprietary format that would have to . The company is on a mission to revolutionize energy storage to enable a sustainable future. in Management from Stanford Graduate School of Business. in Physics, a M.S. QuantumScapes new facilities will also house additional research and development and office space to accommodate hundreds of new employees. My guess is that the ratio between lithium ion and solid state lithium will be a similar story, i.e. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. In addition, the solid-state battery does not have a classic anode. QuantumScape Factory Economics (QS-1, 20GWh) Capex + Start-up Costs: $1.6B ~70% Cell Factory ~30% Separator Factory Equity Need: ~$500M Note: Assumes 5% annual price and cost declines. This joint venture brings together QuantumScapes core battery technology with Volkswagens deep understanding of high-volume, high-quality production, and maximizes our ability to bring this technology into industrial production.. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. 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. For more information, please visit www.quantumscape.com . so Wh/L determines the volume of the device necessary to fit the battery, and Wh/kg kind of determines how much mass (weight) is necessary to store the power required. QuantumScape said it has begun shipping "A0" samples of its battery cells to its automaker clients. This should start in the second half of 2024 with the help of Volkswagen. For more information, please visit www.quantumscape.com. The Motley Fool has a disclosure policy. Mr. Hettrich also served as a Business Analyst at McKinsey & Company, a management consulting firm, from September 2004 to July 2007. 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. QuantumScape, which was founded in 2010, went public via a merger with a special-purpose acquisition company, or SPAC. 12/8/2022. These samples are nearly full-size prototypes that will allow the automakers to test and begin . QuantumScape hasn't disclosed the names of these two auto companies. 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. 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. Please contact the developer of this form processor to improve this message. Until now, the low cycle stability has been considered a major weakness of solid-state batteries. There is a 37-page Investor Presentation. Mr. Hettrich holds a B.A. 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. Its proprietary solid-state battery design requires a major capital raise for. 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. It's a bad sign for the company backed by Volkswagen. 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. The luxury auto company could possibly be Porsche. VW ID. Quantumscape plans to go public with a SPAC deal before the end of the year. Our [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. 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