The new plant in Livonia, Mich. is expected to expand A123's manufacturing capabilities . Learn More{{/message}}, {{#message}}{{{message}}}{{/message}}{{^message}}It appears your submission was successful. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. from Vanderbilt University Law School. It has been claimed that solid-state batteries would enable Volkswagen and Toyota to leapfrog Tesla battery technology. The new campus comprises the current site of QS-0, QuantumScapes pre-pilot production line, and the adjacent three new buildings. 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. The Wolfsburg company will then have the right to become the first customer for the new batteries based on solid-state technology. The luxury auto company could possibly be Porsche. Even though the server responded OK, it is possible the submission was not processed. 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. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. There is a 37-page Investor Presentation. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast. in Economics from Pomona College, a M.B.A. from Stanford Graduate School of Business, and a M.S. 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. This new campus provides us with an opportunity to continue our ground-breaking innovation while laying the foundation for scaling up those innovations into production.. Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. The industry-facing website They will start building a pilot factory in about one year and that factory will produce 1 gigawatt-hour of batteries per year. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot . Tesla has already spent a few years, billions on acquisitions and R&D on the new batteries and factory technology revealed at battery day. In its Q2 2022 Shareholder Letter, the company did not even touch on the subject . Chart reflects 100% of factory financials. 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 companys mission is to revolutionize energy storage to enable a sustainable future. Free-Float. 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. 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. One of these is a top 10 global auto manufacturer by revenue, and the other is a luxury auto company. 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 factory will make early production versions of the company's advanced electric. I think consumer electronics (like cell phones) developers worry more about Wh/L and electric car developers worry more about Wh/kg. in Business Administration from U.C. [1] Investors include Bill Gates and Volkswagen.[2]. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. 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. 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. Apart from Volkswagen (VWAGY -0.29%), QuantumScape is collaborating with two other auto original equipment manufacturers (OEMs). 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. If they keep improving like they have been so far, they will perhaps be at 30 USD/kWh in 2028. 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. 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. Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. The company is on a mission to revolutionize energy storage to enable a sustainable future. 12/8/2022. The companies plan to begin a joint pilot program by 2023. [2] At the same time, the company's shares will be listed on the New York Stock Exchange under the symbol QS. ADVERTISEMENT Cost basis and return based on previous market day close. QuantumScape is a company that provides electrical energy storage solutions. [9][10] The battery was claimed to offer an energy density of 1kWh/L or 380-500 Wh/kg. in Management from Stanford Graduate School of Business. As a result of the merger, QuantumScape will receive $1 billion in financing, including funding from Volkswagen and the Qatar Investment Authority. QuantumScape is on a mission to transform energy storage with solid-state lithium-metal battery technology. Battery startup QuantumScape dropped some news last week that we reporterslike to call a Friday night news dump. The company plans to continue aggressive hiring of world-class talent through 2022 and beyond. Our innovative battery cell technology can store energy more efficiently and reliably than todays lithium-ion batteries. in Business Administration from U.C. Five years from now, the company expects to have a . QuantumScape could produce solid-state batteries in the German city of Salzgitter with Volkswagen in the future. 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 Holme, a Stanford-educated mechanical engineer. The pilot line will be based in San Jose and will be called QS0. 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. Down 86% in This Bear Market, Can QuantumScape Stock Recover in 2023? In 2018, Volkswagen invested $100 million in the company, becoming the largest shareholder. QuantumScape Reports Third Quarter 2022 Business and Financial Results. 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. The QS-1 will follow QS-0, which is an independent enterprise from QuantumScape. QuantumScape Publishes Inaugural Environmental, Social and Governance Report . If things go as per QuantumScape's plans, the company will have a huge market for its cells. But while the capacity is limited, it will provide cells for development work and help design next-gen manufacturing equipment: QS-0 will help provide the additional capacity we need for our development work and will enable usto accelerate work on the next-generation of manufacturing tools. While one would be hard-pressed to argue that the nearly 70% premium over today's price. in Computer Science from Stanford University. Location: 1710 Automation Pkwy, located just north of Hostetter Road between Lundy Avenue and Interstate 680 and across the street from a Costco warehouse. 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. In a presentation last year, QuantumScape unveiled impressive data about its current battery cells that has never been seen in solid-state batteries before. 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 is funded by 10 investors. This will allow us toprovide early cells to VW, as well as other automotive partners, explore non-automotive applications, andhelp de-risk subsequent commercial scale-up.. The solid-state battery startup expects to be able to produce 200,000 cells. 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. 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. "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. 10/26/2022. It will also provide capacity to makeenough batteries for hundreds of long-range battery electric test vehicles per year. 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. However, the industry has several challenges to overcome in order to make solid-state viable, and QuantumScape claims to have solved them all. They were planning on "Quantum WebCrowdsourced Nanotronics" but they were told to tone it down a bit. 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. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels. It released on May 14 that it is in the process of selecting where it will produce with Volkswagen. With reporting by Cora Werwitzke, France. The company has confirmed 10-year lease agreements for the three new buildings of QS Campus. Fred is the Editor in Chief and Main Writer at Electrek. Considering QS-1 will apparently be just in the same city but not the same plant, were more inclined to the second hypothesis. Tesla uses a dry electrode, where "dry" doesn't describe the battery but rather is a simplified manufacturing process that reduces manufacturing cost. This reminds me of the debate about silicon and gallium arsenide in the chip business. QuantumScape (NASDAQ:QS) stock is sitting in a sort of middle ground in terms of its evolution. Mr. Hettrich has served as QuantumScapes Chief Financial Officer and head of Business Operations since September 2018. The deal should result in a valuation of $3.3 billion and leave Quantumscape with over $1 billion to fund its factory and plans. In concrete terms, the latter should be possible in San Jos from 2023. That would prevent it's use as a structural battery due to size changes. 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 future is solid. He is open to public speaking and advising engagements. 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.. Tesla has made its new batteries into a structural slab on the base of the car. (adsbygoogle = window.adsbygoogle || []).push({}); Solid-state battery specialist QuantumScape plans to issue 13 million new shares. Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. electrive.com is a newsservice 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. 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.. in Management from Stanford Graduate School of Business. The departure of its top manufacturing expert is bad news for the battery startup backed by Volkswagen. In the last quarter of 2020, QuantumScape briefly surpassed the valuation of Ford Motor Co. without having any commercial product and with zero revenue. 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. 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. 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 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 Corp (NYSE: QS) has secured a new set of buildings in San Jose for its future manufacturing hub, QS Campus. Salzgitter will be where the German carmaker will have its first 40 GWh gigafactory in Europe. Dr. Holme has served as QuantumScapes Chief Technology Officer since January 2011. Let's check out what the solid-state battery company has been up to lately and what its progress means for its stock. The companys 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. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. 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The plant will have a limited capacity of 100,000 cells per year: QS-0 is intended to have a continuous flow, high automation line capable of building over 100,000 engineering cell samples per year. 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. Anthony P. Plymouth Township, MI. As we shift into the next phase of our growth trajectory, developing advanced manufacturing capabilities becomes more critical. Let's . QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. The recycling plant could source raw materials to the solid-state cell plant in a much easier way. Tesla dry cells and silicon anodes mean that solid-state batteries will not be able to beat advanced lithium-ion on energy density. Tried the pastor, carnitas and steak tacos. In connection with the joint venture, there is also talk of a second pilot plant. In February 2021, QuantumScape announced a plan for a new pilot production factory ahead of the main factory. The expected proceeds of $859 million are to be invested in the companys planned pilot plant and in the joint venture with Volkswagen. The company is on a mission to revolutionize energy storage to enable a sustainable future. 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 . 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. Ms. Fong holds a B.S. A123 Systems, a developer and manufacturer of advanced Nanophosphate lithium-ion batteries and systems, on September 13 announced the grand opening of the largest lithium-ion automotive battery production facility in North America, based on available data. In 2025, Prologium plans to reach 900 Wh/L batteries. Quantumscape has shared new data showcasing further development of its solid-state batteries, whose cells have completed 400 consecutive 15-minute fast-charge cycles, replenishing from 10% to 80% . QuantumScape (QS -1.45%) stock rose recently on the rumors of a potential partnership with Porsche. Also, silicon anodes, by definition cannot produce a denser battery than a solid state battery that uses NO anodes at all. At 2028, Tesla will be at one or two TWh per year and with costs below 50 USD/kWh. 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. 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. Price as of January 18, 2023, 11:16 a.m. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh . QuantumScape has a post-money valuation in the range of $1B to $10B as of Jun 17, 2020 . A full-sized plant would also be built and start production in 2027. This will not happen. 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. If all goes as planned, it QuantumScape expects revenue to grow gradually from $39 million in 2025 . QuantumScape's cells use a solid-state separator in place of the porous separators used in conventional lithium-ion batteries. 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. Being an investor in the startup, the German automaker will also benefit from any success it has with its competitors. A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. QuantumScape And VW Are Selecting Where To Make Solid-State Cells Salzgitter is so far the location with more chances to produce these batteries. The published results with single-layer pouch cells suggest that QuantumScapes battery can be quickly charged to 80 per cent capacity in 15 minutes. Mr. Hettrich also served as a Business Analyst at McKinsey & Company, a management consulting firm, from September 2004 to July 2007. [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. For Investors John Saager, CFA Head of Investor Relations ir@quantumscape.com 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. 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