Bloomberg Markets European Close. The recycling plant could source raw materials to the solid-state cell plant in a much easier way. A full-sized plant would also be built and start production in 2027. Canadas Population at 38 Million and Adding 4 Million Immigrants from Now to 2030, How to Keep Your Cryptocurrencies Safe in 2020. QuantumScape Reports Third Quarter 2022 Business and Financial Results. In 2018, Volkswagen invested $100 million in the company, becoming the largest shareholder. Berkeley and a M.S. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. Date: May 4 Amount: $103.8 million. 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. https://www.electrive.com/2021/03/25/quantumscape-to-open-second-pilot-plant/. The Company is focused on the development and commercialization of its solid-state lithium-metal batteries. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. The solid electrolyte allows us to use lithium-metal for the anode, which is the lightest metal on the planet and nearly 10 times more energy dense than whats used in todays batteries. The team listed the properties the material would need to have: 1) resist dendrites. 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. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology. 10/26/2022. 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. As we shift into the next phase of our growth trajectory, developing advanced manufacturing capabilities becomes more critical. The core of the QuantumScape technology is a ceramic separator, which is supposed to remedy exactly this. To make the world smarter, happier, and richer. Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast. It intends to accelerate the commercialization of solid-state batteries for e-mobility. . across Europe and beyond. In the last quarter of 2020, QuantumScape briefly surpassed the valuation of Ford Motor Co. without having any commercial product and with zero revenue. Down 86% in This Bear Market, Can QuantumScape Stock Recover in 2023? 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. 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. Even though the server responded OK, it is possible the submission was not processed. {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. By Matt - Published on April 16, 2021. The companies currently contemplate Salzgitter, Germany for the location. 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. 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. entering your email below. The deal should result in a valuation of $3.3 billion and leave Quantumscape with over $1 billion to fund its factory and plans. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA [email protected]. These are the key requirements to make a lithium-metal anode, which in turn enables high energy density, fast charge, and long life. Mr. Singh holds a B.S. 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. It also stated that it would have a proprietary format that would have to . 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 Mechanical Engineering, and a Ph.D. in Mechanical Engineering from Stanford University. 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. He is open to public speaking and advising engagements. QuantumScape was founded in 2010 by Jagdeep Singh, Tim Holme and Professor Fritz Prinz of Stanford University. Berkeley and a M.S. QuantumScape (NYSE: QS), a startup that is working on solid-state lithium metal batteries for electric vehicles, has seen its stock price decline by close to 9% over the last week (five trading . 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. This is formed from pure lithium metal as soon as the battery is charged. Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. Ms. Fong holds a B.S. Additional information concerning these and other factors that could materially affect QuantumScapes actual results can be found in QuantumScapes periodic filings with the SEC. 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. 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. in Economics from Pomona College, a M.B.A. from Stanford Graduate School of Business, and a M.S. In order to avoid the worst consequences of climate change, we must electrify transportation and turn internal combustion engines into a way of the past. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Mr. Singh is QuantumScapes Chief Executive Officer and Chairman of the Board of Directors. 570. 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. The 50 USD/kWh was Brians conjecture for 2024 price levels. The pilot line will be based in San Jose and will be called QS0. Latest updates in Management from Stanford Graduate School of Business. [1] Investors include Bill Gates and Volkswagen.[2]. The Wolfsburg company will then have the right to become the first customer for the new batteries based on solid-state technology. Puddle Jumpers Pointthe Way to Greener Aviation, What Tech Job Cuts Say About Silicon Valleyand the Rest of the Economy, With VC Funding Drying Up, Biotechs Are on a Quest for Cash, Columbia Hires First Female Leader as Shafik Succeeds Bollinger, Jes Staley Personally ObservedEpstein's Abuse, Woman Suing JPMorgan Claims, Tesla Is on Both Offense and Defense in Its First-Ever Price War, Britishvolts FailureReinforces UK Car SectorsExistential Dread, The White House Is Considering Broad Actions to ExpandTenant Protections, The School Board Queen Endorsed by Florida Governor Ron DeSantis, The School Board Queen: How a Florida Mom Is Shaking Up US Education, Ryan Salame Invested Big In ASmall Town, Now Its Tangled Up In FTXs Fallout(Podcast), Fight to Regulate Crypto atCrossroads as Ripple Ruling Looms. And the ceramic separator is non-flammable and noncombustible, making our batteries safer than conventional lithium-ion batteries. Our innovative battery cell technology can store energy more efficiently and reliably than todays lithium-ion batteries. Our mail-out and online service cover in Management from Stanford Graduate School of Business. Its solid-state battery cell technology has an energy density, enhanced safety, fast charging capability, and small size. For more information, please visit www.quantumscape.com. 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. 09/29/2022. Chart reflects 100% of factory financials. a wide range of relevant stories and 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. 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. For more information, please visit www.quantumscape.com. and free of charge. The company is on a mission to revolutionize energy storage to enable a sustainable future. I was having difficulty seeing a litre of lithium. Quantumscape plans to go public with a SPAC deal before the end of the year. fordecision makersin the Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. Mr. Singh joined the QuantumScape Board in May 2010. Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. Quantumscape believes they can get battery energy density to 500 Wh/kg and a battery cost reduction of 17%. That would prevent it's use as a structural battery due to size changes. The company believes that its solid-state batteries will be far more energy-dense than the lithium-ion batteries in use right now. So wh/l is actually volume, like a litre of water (10cm*10cm*10cm)? Tesla has already spent a few years, billions on acquisitions and R&D on the new batteries and factory technology revealed at battery day. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. Tesla has made its new batteries into a structural slab on the base of the car. The full-sized plant would have 2 to 4 times the capacity of the first expanded plant. 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. 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