Berkeley and a M.S. Pouch form factor batteries cannot be made into structural parts of the body of the car. in Economics from Pomona College, a M.B.A. from Stanford Graduate School of Business, and a M.S. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. 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 company now needs to develop multilayered cells with commercial dimensions while adding several more layers. In addition, the solid-state battery does not have a classic anode. 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. The campus is designed to encourage more natural opportunities for employees to collaborate across departments and functions. 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 pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. Mr. McCarthy currently serves as a member of the boards of several privately-held companies. Ms. Fong holds a B.S. QuantumScape Corp. ( QS) stock's 93% plunge makes it a vulnerable acquisition target if shares fail to recover soon. The company plans to continue aggressive hiring of world-class talent through 2022 and beyond. Since then, it has become a little clearer where the journey is headed: According to the Americans, the technology can help improve the range of electric cars by up to 80 per cent compared to todays lithium-ion cells. Tesla has already spent a few years, billions on acquisitions and R&D on the new batteries and factory technology revealed at battery day. Includes costs for planning, FAT / SAT, and start-up; excludes maintenance capex and interest expense. I hope they fire the Head of Designer. The short story is that they claim to have solved the solid-state battery problem. Come join us on our mission as we revolutionize energy storage to enable a sustainable future. 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% . 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. 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. 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. 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. Prior to joining QuantumScape, Mr. Hettrich served as a Private Equity Associate of Bain Capital, an investment firm, from September 2007 to July 2009. 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. Anthony P. Plymouth Township, MI. (adsbygoogle = window.adsbygoogle || []).push({}); Solid-state battery specialist QuantumScape plans to issue 13 million new shares. They would then expand the plant for 20 GWh/year plant. I'm not saying that it will never happen, but at least it is clear that silicon has been able to "hold off" alternative technologies for decades through continuous improvements. Additional information concerning these and other factors that could materially affect QuantumScapes actual results can be found in QuantumScapes periodic filings with the SEC. 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. It is not yet clear where this plant will be built. [6] May 17, 2021 at 8:31am ET By: Gustavo Henrique. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. Even before the news, the stock has been on an upward trend since the middle of March. Mr. Singh co-founded QuantumScape and has served as its Chief Executive Officer since QuantumScapes incorporation in May 2010. The company has worked for more than 10 years to develop this separator material. Ms. Fong holds a B.S. The final cells used in vehicles may need several dozen layers in each battery pack. And the ceramic separator is non-flammable and noncombustible, making our batteries safer than conventional lithium-ion batteries. (adsbygoogle = window.adsbygoogle || []).push({}); Subscribe to electrive today by QuantumScape said it has begun shipping "A0" samples of its battery cells to its automaker clients. QuantumScape has been promising to present not only a solid-state platform that will work with any lithium-ion chemistry. 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.. This reminds me of the debate about silicon and gallium arsenide in the chip business. in Business Administration from U.C. /a > QuantumScape - Resources - Press Business Outlook Data presented vehicles to outperform internal combustion cars located in Jos., QuantumScape, it reflects investors ' Even if they execute flawlessly, they will have too little capacity to matter and the prices will be too high. Tried the pastor, carnitas and steak tacos. 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. Quantum scape expects to get 70 USD/kWh in 2028. 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. 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. The recycling plant could source raw materials to the solid-state cell plant in a much easier way. 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. The solid-state batteries that QuantumScape is researching could change the EV landscape considerably. The 50 USD/kWh was Brians conjecture for 2024 price levels. 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. The full-sized plant would have 2 to 4 times the capacity of the first expanded plant. The joint venture between QuantumScape and Volkswagen will be called QS-1. 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. QuantumScape, so far, has collaborations with four key customers -- three automotive and one stationary energy-storage product manufacturer. Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. Its solid-state battery cell technology has an energy density, enhanced safety, fast charging capability, and small size. Prior to joining QuantumScape, he was the Chief Administrative Officer at Infinera Corporation from April 2003 to March 2013. 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 . Expansion to three new facilities to scale advanced manufacturing capabilities. In concrete terms, the latter should be possible in San Jos from 2023. 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. 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. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. What's the relationship between wh/L and wh/kg in batteries? Please contact the developer of this form processor to improve this message. {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. Making the world smarter, happier, and richer. insideevs.com,electrek.co,techcrunch.com,ir.quantumscape.com,sec.report. Tesla battery system reduces the need for structural steel. In the same year, Volkswagen and QuantumScape announced the establishment of a joint production project to prepare for mass production of solid state batteries. Made in Germany! [1] Investors include Bill Gates and Volkswagen.[2]. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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. a wide range of relevant stories and 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. The key to our technology is a patented solid ceramic electrolyte separator, the material that keeps the anode and cathode from touching and moves lithium ions from one side of the battery to the other during charge and discharge. Quantumscape plans to go public with a SPAC deal before the end of the year. . The Wolfsburg company will then have the right to become the first customer for the new batteries based on solid-state technology. across Europe and beyond. Ms. Fong holds a B.S. 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 is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. Many of these factors are outside QuantumScapes control and are difficult to predict. 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. Its proprietary solid-state battery design requires a major capital raise for. QuantumScape hopes to provide cells for a few hundred test vehicles each year with it for all manufacturers interested in them. Prior to joining QuantumScape, he was the founder and Chief Executive Officer at Infinera Corporation (NASDAQ: INFN), a telecommunications company, from 2001 to 2009. 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. Berkeley and a M.S. Battery startup QuantumScape dropped some news last week that we reporterslike to call a Friday night news dump. 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. QuantumScape (QS 9.07%) stock rose recently on the rumors of a potential partnership with Porsche. One of these is a top 10 global auto manufacturer by revenue, and the other is a luxury auto company. A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. While one would be hard-pressed to argue that the nearly 70% premium over today's price. Mr. Hettrich also served as a Business Analyst at McKinsey & Company, a management consulting firm, from September 2004 to July 2007. QuantumScape Corp (NYSE: QS) has secured a new set of buildings in San Jose for its future manufacturing hub, QS Campus. About 200 mL if I recall correctly. It is no longer the controversial special purpose acquisition company (SPAC) electric vehicle. It does NOT increase energy density. 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The departure of its top manufacturing expert is bad news for the battery startup backed by Volkswagen. 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. QuantumScape is an American company that develops solid state lithium metal batteries for electric cars. QuantumScape is on a mission to transform energy storage. With reporting by Cora Werwitzke, France. 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. QuantumScape Corp. plans to lease 200,000 square feet of space in San Jose for a new manufacturing facility. It intends to accelerate the commercialization of solid-state batteries for e-mobility. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. 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. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. In connection with the joint venture, there is also talk of a second pilot plant. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. The pilot line will be based in San Jose and will be called QS0. Volkswagen says it is looking to produce car batteries with QuantumScape's technology in 2025. 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. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. 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. 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 . 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. 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. [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. Company. As we shift into the next phase of our growth trajectory, developing advanced manufacturing capabilities becomes more critical. The expected proceeds of $859 million are to be invested in the companys planned pilot plant and in the joint venture with Volkswagen. The companies currently contemplate Salzgitter, Germany for the location. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Mr. McCarthy has served as QuantumScapes Chief Legal Officer and Head of Corporate Development since March 2013. *Average returns of all recommendations since inception. 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. Even before the news, the stock has been on an upward trend since the middle of March. The QS-1 will follow QS-0, which is an independent enterprise from QuantumScape. ADVERTISEMENT 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. 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. So wh/l is actually volume, like a litre of water (10cm*10cm*10cm)? However, the industry has several challenges to overcome in order to make solid-state viable, and QuantumScape claims to have solved them all. and free of charge. [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. And there will be another electric bus factory, as well," Thuy said. QuantumScape is a company that provides electrical energy storage solutions. On average, they predict the company's stock price to reach $13.86 in the next twelve months. 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. They will start building a pilot factory in about one year and that factory will produce 1 gigawatt-hour of batteries per year. 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. The company is on a mission to revolutionize energy storage to enable a sustainable future. Their QS share price forecasts range from $4.00 to $27.00. Latest updates Price as of January 18, 2023, 11:16 a.m. The company has confirmed 10-year lease agreements for the three new buildings of QS Campus. QuantumScape expects to produce cells for use in test cars in 2023 and start commercial production in 2024. from Vanderbilt University Law School. It also stated that it would have a proprietary format that would have to . 09/29/2022. Cost basis and return based on previous market day close. It successfully tested 10-layer cells in 2021. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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. The server responded with {{status_text}} (code {{status_code}}). QuantumScape was founded in 2010. ET. This suggests a possible upside of 67.0% from the stock's current price. Apart from Volkswagen (VWAGY -0.29%), QuantumScape is collaborating with two other auto original equipment manufacturers (OEMs). The new campus comprises the current site of QS-0, QuantumScape's pre-pilot . After testing and validating QuantumScape's cells, these companies intend to use them in their vehicles. 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. 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. This will involve selling the vehicles in North America rather than exporting them. 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. [9][10] The battery was claimed to offer an energy density of 1kWh/L or 380-500 Wh/kg. The company is headquartered in San Jose, California and employs around 400 people. Our mail-out and online service cover This should start in the second half of 2024 with the help of Volkswagen. With 24 layers, each comprising . The batteries may increase an electric vehicle's range notably for the same battery size. [1] Investors include Bill Gates and Volkswagen. 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.. Today, the company announced a plan for a new pilot production factory ahead of the main factory: To help with further scale-up and based on this recent progress we are pleased to announce we have decided to build a pre-pilot line facility in San Jose, which we call QS-0.. Find one worth sharing. 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. QuantumScape, which was founded in 2010, went public via a merger with a special-purpose acquisition company, or SPAC. QuantumScape is registered under the ticker NYSE:QS . 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. This is formed from pure lithium metal as soon as the battery is charged. In all, QuantumScape could already be delivering its batteries to auto OEMs successfully three years from now. 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,. They were planning on "Quantum WebCrowdsourced Nanotronics" but they were told to tone it down a bit. It already houses Volkswagens first recycling plant, which started to operate in January. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. [3][4] In 2012, QuantumScape began working with German automaker Volkswagen. 5 min read. Let's . Considering QS-1 will apparently be just in the same city but not the same plant, were more inclined to the second hypothesis. Source: QuantumScape via Green Car Congress. QuantumScape ($QS). Date: May 4 Amount: $103.8 million. EV battery startup QuantumScape has leased a massive production site in San Jose, hinting at the company's intent to bring its "groundbreaking" solid . It is not clear if Volkwagen included that production capacity in Salzgitters total of 40 GWh or if it will be in addition to the 40 GWh capacity it will already have. 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. 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. The company is headquartered in San Jose, California and employs around 400 people. The plant, called QS-0, will be able to produce more than 100,000 samples of solid-state cells per year, the announcement said. 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. Bloomberg Markets European Close. By Matt - Published on April 16, 2021. [5], On September 3, 2020, QuantumScape announced a merger with the special-purpose acquisition company Kensington Capital Acquisition. Prologium plans to have 2 Gigawatt hour/year plant working by 2022 and a 7 GWh/year plant working in 2023. Our innovative battery cell technology can store energy more efficiently and reliably than todays lithium-ion batteries. 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. 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. In February 2021, QuantumScape announced a plan for a new pilot production factory ahead of the main factory. An expansion of capacity by more than double would thus lead to an output of more than 200,000 samples. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. BMW iX review: How efficient is the BMW eSUV in real life? QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. builds on the email briefing we publish Until now, the low cycle stability has been considered a major weakness of solid-state batteries. 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. News dump in the same location real life could differ materially from the stock #... Previous market day close lithium-ion batteries solid-state technology maintenance capex and interest expense mr. co-founded! Production factory ahead of the body of the body of the boards of privately-held... 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