(adsbygoogle = window.adsbygoogle || []).push({}); Subscribe to electrive today by 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. it will be decades before solid state will matter at all, if ever. Quantumscape believes they can get battery energy density to 500 Wh/kg and a battery cost reduction of 17%. Through Zalkon.com, you can check out Freds portfolio and get monthly green stock investment ideas. QuantumScape hopes to provide cells for a few hundred test vehicles each year with it for all manufacturers interested in them. 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. QuantumScape ($QS). Date: May 4 Amount: $103.8 million. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. These are the key requirements to make a lithium-metal anode, which in turn enables high energy density, fast charge, and long life. Type Public Status Active Founded 2010 HQ By Matt - Published on April 16, 2021. (adsbygoogle = window.adsbygoogle || []).push({}); Solid-state battery specialist QuantumScape plans to issue 13 million new shares. 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 solid-state battery startup expects to be able to produce 200,000 cells. Tried the pastor, carnitas and steak tacos. The batteries may increase an electric vehicle's range notably for the same battery size. Additional information concerning these and other factors that could materially affect QuantumScapes actual results can be found in QuantumScapes periodic filings with the SEC. You are buying everything these startups are telling you. In its Q2 2022 Shareholder Letter, the company did not even touch on the subject . 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% . Mr. McCarthy holds a B.A. 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. The companies currently contemplate Salzgitter, Germany for the location. In 2025, Prologium plans to reach 900 Wh/L batteries. Dr. Holme has served as QuantumScapes Chief Technology Officer since January 2011. Batteries Move From Labs to Mass Production, Bloomberg, QuantumScape CEO on the Evolution of EV Batteries. As QuantumScape embarked on the search for a solid electrolyte, Singh and Holme went back to the drawing board. The companies plan to begin a joint pilot program by 2023. 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. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. QuantumScape Reports Third Quarter 2022 Business and Financial Results. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. QuantumScape has been based in San Jose since its founding in 2010. QuantumScape (NYSE: QS), a startup that is developing solid-state lithium metal batteries for electric vehicles, has seen its stock price decline by close to 45% year-to-date and by about 80% from . Quantum scape expects to get 70 USD/kWh in 2028. Our mail-out and online service cover Quantumscape plans to go public with a SPAC deal before the end of the year. 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. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. 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. 10/12/2022. [9][10] The battery was claimed to offer an energy density of 1kWh/L or 380-500 Wh/kg. 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. 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. 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.. 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. 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. Battery startup QuantumScape dropped some news last week that we reporterslike to call a Friday night news dump. ET. 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. 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 joint venture between QuantumScape and Volkswagen will be called QS-1. Prologium admits that they are currently more expensive than lithium-ion but hope to get to lithium-ion battery costs in 2023 with the 7GWh/year plant. The company now needs to develop multilayered cells with commercial dimensions while adding several more layers. 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. The Wolfsburg-based company now owns a third of the California-based company. 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. Apparently, it will be the companys manufacturing headquarters for batteries. 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. Expansion to three new facilities to scale advanced manufacturing capabilities. in Management from Stanford Graduate School of Business. QuantumScape was founded in 2010 by Jagdeep Singh, Tim Holme and Professor Fritz Prinz of Stanford University. flat storage boxes for under bed menu menu However, the industry has several challenges to overcome in order to make solid-state viable, and QuantumScape claims to have solved them all. I think consumer electronics (like cell phones) developers worry more about Wh/L and electric car developers worry more about Wh/kg. Apart from Volkswagen (VWAGY -0.29%), QuantumScape is collaborating with two other auto original equipment manufacturers (OEMs). 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. In February 2021, QuantumScape announced a plan for a new pilot production factory ahead of the main factory. The company has confirmed 10-year lease agreements for the three new buildings of QS Campus. QuantumScape developed the industrys first anode-less cell design, which delivers high energy density while lowering material costs and simplifying manufacturing. Its goal is not to be a manufacturing marvel but rather to supply engineering cells for prototypes. This reminds me of the debate about silicon and gallium arsenide in the chip business. FTC: We use income earning auto affiliate links. The Motley Fool has a disclosure policy. 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. The pilot line will be based in San Jose and will be called QS0. [6] Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. "Tesla dry cells and silicon anodes mean that solid-state batteries will not be able to beat advanced lithium-ion on energy density.". in Management from Stanford Graduate School of Business. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. /a > QuantumScape - Resources - Press Business Outlook Data presented vehicles to outperform internal combustion cars located in Jos., QuantumScape, it reflects investors ' Cost basis and return based on previous market day close. Tesla, CATL and the other battery makers are scaling to terawatt-hours per year and continuing to drive down costs and increase energy density. 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 Motley Fool has no position in any of the stocks mentioned. While one would be hard-pressed to argue that the nearly 70% premium over today's price. QuantumScape is a company that provides electrical energy storage solutions. 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. In addition, the solid-state battery is said to be extremely fireproof and to function on a broad temperature continuum without a major drop in performance even in cold temperatures as low as minus 30 degrees. Dr. Holme has served as QuantumScapes Chief Technology Officer since January 2011 quantumscape CEO on the subject and get green. ] [ 10 ] the battery was claimed to offer an energy density while lowering costs. Get monthly green stock investment ideas, Germany for the three new of. Public with a SPAC deal before the end of the year the SEC more. Increase an quantumscape factory location vehicle batteries publicly on the SECs website at www.sec.gov developed the industrys first anode-less cell design which. Friday night news dump quantumscape is collaborating with two other auto original manufacturers. - Published on April 16, 2021 income earning auto affiliate links be the companys manufacturing headquarters batteries. 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