Its solid-state battery cell technology has an energy density, enhanced safety, fast charging capability, and small size. 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.. Prior to joining QuantumScape, he was the founder and Chief Executive Officer at Infinera Corporation (NASDAQ: INFN), a telecommunications company, from 2001 to 2009. 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. QuantumScape had already received fresh capital at the end of 2020 through its IPO itself and last summer through an investment of 200 million euros from Volkswagen, among others. in Management from Stanford Graduate School of Business. While QuantumScape remained silent about its technology for a long time, the company presented performance data of prototype cells for the first time in December 2020. The team listed the properties the material would need to have: 1) resist dendrites. QuantumScape is registered under the ticker NYSE:QS . 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 . Qatar Investment Authority and Fidelity Management and Research Company are the most recent investors. QuantumScape (QS 9.07%) stock rose recently on the rumors of a potential partnership with Porsche. In connection with the joint venture, there is also talk of a second pilot plant. They were planning on "Quantum WebCrowdsourced Nanotronics" but they were told to tone it down a bit. 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. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. Many of these factors are outside QuantumScapes control and are difficult to predict. Tesla is refining the production processes for new batteries and the new batteries have been produced in the tens of thousands. 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. Come join us on our mission as we revolutionize energy storage to enable a sustainable future. ET. Ms. Fong holds a B.S. QuantumScape is on a mission to transform energy storage with solid-state lithium-metal battery technology. Canadas Population at 38 Million and Adding 4 Million Immigrants from Now to 2030, How to Keep Your Cryptocurrencies Safe in 2020. Is the quantumscape battery as shown in the slide suggesting that it physically expands when charged? in Business Administration from U.C. FTC: We use income earning auto affiliate links. 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. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. QuantumScape Corp (NYSE: QS) has secured a new set of buildings in San Jose for its future manufacturing hub, QS Campus. The lab at QuantumScape in San Jose, Calif., on Feb. 4, 2021. Price as of January 18, 2023, 11:16 a.m. This is formed from pure lithium metal as soon as the battery is charged. The company expects to produce cells for use in test cars in 2023. 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. Location: 1710 Automation Pkwy, located just north of Hostetter Road between Lundy Avenue and Interstate 680 and across the street from a Costco warehouse. 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. You are buying everything these startups are telling you. QuantumScape is a company that provides electrical energy storage solutions. 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. In 2018, Volkswagen invested $100 million in the company, becoming the largest shareholder. The company has confirmed 10-year lease agreements for the three new buildings of QS Campus. [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. The new research and manufacturing site is dramatically larger than QuantumScape's current headquarters at 1730 Technology Drive in San Jose. From September 1997 to April 2003, Mr. McCarthy served as Senior Vice President and General Counsel of Ciena Corporation, a network strategy and technology company. In a presentation last year, QuantumScape unveiled impressive data about its current battery cells that has never been seen in solid-state batteries before. Bloomberg Markets European Close. 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. in Business Administration from U.C. This reminds me of the debate about silicon and gallium arsenide in the chip business. a wide range of relevant stories and Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. Tesla battery system reduces the need for structural steel. Do you want to help build one of the most critical parts of the future energy economy? QuantumScape is one of dozens of startups trying to reach the "holy grail" of battery innovation: a solid-state battery that can deliver longer range, faster charging times, long cycle life,. QuantumScape said it has begun shipping "A0" samples of its battery cells to its automaker clients. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. in Business Administration from U.C. 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 new plant in Livonia, Mich. is expected to expand A123's manufacturing capabilities . It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology. Despite uncertainties, if things go according to QuantumScape's plans, the company could start pilot production of its batteries in 2024. Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. Rekha Khandelwal has no position in any of the stocks mentioned. 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 pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. 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 . Prior to joining QuantumScape, he was the Chief Administrative Officer at Infinera Corporation from April 2003 to March 2013. Dr. Holme holds a B.S. 09/29/2022. Mr. Hettrich is QuantumScapes Chief Financial Officer. QuantumScape expects to produce cells for use in test cars in 2023 and start commercial production in 2024. Salzgitter will be where the German carmaker will have its first 40 GWh gigafactory in Europe. As a result of the merger, QuantumScape will receive $1 billion in financing, including funding from Volkswagen and the Qatar Investment Authority. If all goes as planned, it QuantumScape expects revenue to grow gradually from $39 million in 2025 . The recycling plant could source raw materials to the solid-state cell plant in a much easier way. Until now, the low cycle stability has been considered a major weakness of solid-state batteries. Tesla dry cells and silicon anodes mean that solid-state batteries will not be able to beat advanced lithium-ion on energy density. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. This will involve selling the vehicles in North America rather than exporting them. Even before the news, the stock has been on an upward trend since the middle of March. I was having difficulty seeing a litre of lithium. QuantumScape could produce solid-state batteries in the German city of Salzgitter with Volkswagen in the future. {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. 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. However, the goal is to make it reach a 20 GWh production scale. A litre of lithium, or rather a litre of battery, is just the volume of the box or can that everything has to fit into. Let's check out what the solid-state battery company has been up to lately and what its progress means for its stock. Mr. McCarthy currently serves as a member of the boards of several privately-held 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. At 2028, Tesla will be at one or two TWh per year and with costs below 50 USD/kWh. The solid-state batteries that QuantumScape is researching could change the EV landscape considerably. Called QS-0, the plant is expected to be capable of producing over 100,000 units of solid-state cells per year. 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. The QS-1 will follow QS-0, which is an independent enterprise from QuantumScape. [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 solid-state battery startup expects to be able to produce 200,000 cells. There is also talk of a second pilot plant as a member of the most recent investors into... Is also talk of a quantumscape factory location partnership with Porsche results and projections differ! 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