Let's check out what the solid-state battery company has been up to lately and what its progress means for its stock. *Average returns of all recommendations since inception. After testing and validating QuantumScape's cells, these companies intend to use them in their vehicles. 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. Prior to joining QuantumScape, he was a Research Associate at Stanford University from June 2008 to January 2011. It is no longer the controversial special purpose acquisition company (SPAC) electric vehicle. QS-1 will follow QS-0, QuantumScapes planned pre-pilot line. electrive.com is a newsservice QuantumScape Reports Third Quarter 2022 Business and Financial Results. QuantumScape Announces Timing of Third Quarter 2022 Financial Results and Webcast. All we have mostly in Canton are corporate chain restaurants. 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. 10/12/2022. 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 short story is that they claim to have solved the solid-state battery problem. Price as of January 18, 2023, 11:16 a.m. Making the world smarter, happier, and richer. This joint venture brings together QuantumScapes core battery technology with Volkswagens deep understanding of high-volume, high-quality production, and maximizes our ability to bring this technology into industrial production.. QuantumScape could produce solid-state batteries in the German city of Salzgitter with Volkswagen in the future. The companies plan to begin a joint pilot program by 2023. The lab at QuantumScape in San Jose, Calif., on Feb. 4, 2021. Chart reflects 100% of factory financials. Called QS-0, the plant is expected to be capable of producing over 100,000 units of solid-state cells per year. With reporting by Cora Werwitzke, France. A: The QuantumScape separator material is a ceramic capable of meeting the key requirements of high conductivity, stability to lithium metal, resistance to dendrite formation, and low interfacial impedance. QuantumScape Corporation (NYSE:QS) today announced it has shipped its first 24-layer prototype lithium-metal battery cells to automotive OEMs for testing. He is open to public speaking and advising engagements. Includes costs for planning, FAT / SAT, and start-up; excludes maintenance capex and interest expense. 09/29/2022. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot . The company now needs to develop multilayered cells with commercial dimensions while adding several more layers. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. It has been claimed that solid-state batteries would enable Volkswagen and Toyota to leapfrog Tesla battery technology. Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. Tesla is refining the production processes for new batteries and the new batteries have been produced in the tens of thousands. 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. The solid-state batteries that QuantumScape is researching could change the EV landscape considerably. And the ceramic separator is non-flammable and noncombustible, making our batteries safer than conventional lithium-ion batteries. To make the world smarter, happier, and richer. The final cells used in vehicles may need several dozen layers in each battery pack. However, the industry has several challenges to overcome in order to make solid-state viable, and QuantumScape claims to have solved them all. Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. The expected proceeds of $859 million are to be invested in the companys planned pilot plant and in the joint venture with Volkswagen. The full-sized plant would have 2 to 4 times the capacity of the first expanded plant. There is a 37-page Investor Presentation. The QS-1 will follow QS-0, which is an independent enterprise from QuantumScape. from Vanderbilt University Law School. Down 86% in This Bear Market, Can QuantumScape Stock Recover in 2023? 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. They are aiming for the next factory, which is going to be commercial-scale with much higher capacity, to be ready to start production in 2024. These samples are nearly full-size prototypes that will allow the automakers to test and begin . QuantumScape completed its 2021 milestones as planned. 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.. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for use in electric vehicles. Prior to joining QuantumScape, he was the Chief Administrative Officer at Infinera Corporation from April 2003 to March 2013. Even before the news, the stock has been on an upward trend since the middle of March. Home Energy Quantumscape Plans 1 Gigawatt Hour Battery Plant in 2024. in Management from Stanford Graduate School of Business. QuantumScape expects to produce cells for use in test cars in 2023 and start commercial production in 2024. 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. 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. Would highly recommend coming here. Anthony P. Plymouth Township, MI. Please contact the developer of this form processor to improve this message. On average, they predict the company's stock price to reach $13.86 in the next twelve months. In this context, the US-Americans are aiming for another pilot plant called QS-1 with a capacity of 1 GWh, which will later be successively expanded to a total capacity of 21 GWh for series production. In its Q2 2022 Shareholder Letter, the company did not even touch on the subject . The Wolfsburg-based company now owns a third of the California-based company. Additionally, the company needs to minimize volume manufacturing costs. Dr. Holme is QuantumScapes Chief Technology Officer. How Is That a Good Thing? electric mobilityindustry. 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. in Management from Stanford Graduate School of Business. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Interview with Mobilize CEO Clotilde Delbos: The car becomes a Lucid opens new retail centre in the Netherlands, Worlds largest electric ferry launches in Norway, Designwerk presents megawatt charging station, Possible battery problem with 10,000 VW ID.3 and ID.4, VW is reorganizing Quality and Design departments. They will start building a pilot factory in about one year and that factory will produce 1 gigawatt-hour of batteries per year. in Business Administration from U.C. The recycling plant could source raw materials to the solid-state cell plant in a much easier way. Prior to joining QuantumScape, he was the founder and Chief Executive Officer at Infinera Corporation (NASDAQ: INFN), a telecommunications company, from 2001 to 2009. tetra colorfusion led light outdoor extension cord reel Every cigar tells a story. At 2028, Tesla will be at one or two TWh per year and with costs below 50 USD/kWh. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. 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. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. QuantumScapes new facilities will also house additional research and development and office space to accommodate hundreds of new employees. QuantumScape has been based in San Jose since its founding in 2010. In the last quarter of 2020, QuantumScape briefly surpassed the valuation of Ford Motor Co. without having any commercial product and with zero revenue. entering your email below. Tesla battery system reduces the need for structural steel. QuantumScape is on a mission to transform energy storage. Here's Why QuantumScape Shares Soared This Morning, Why QuantumScape Stock Lost Its Charge This Week, Why QuantumScape Stock Plunged to All-Time Lows Today, 3 Reasons Tesla Stock Is a No-Brainer Buy in 2023, Social Security: 4 Big Changes Washington Wants to Make, Warren Buffett Is Raking in $4.84 Billion in Annual Dividend Income From These 6 Stocks, Better Buy in 2023: Apple Stock vs. Amazon Stock, Join Nearly 1 Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, Copyright, Trademark and Patent Information. 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. 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 company expects to produce cells for use in test cars in 2023. Their financials show they expect to make about $70/kwh from the batteries they make in 2028. Being an investor in the startup, the German automaker will also benefit from any success it has with its competitors. /a > QuantumScape - Resources - Press Business Outlook Data presented vehicles to outperform internal combustion cars located in Jos., QuantumScape, it reflects investors ' The Company is focused on the development and commercialization of its solid-state lithium-metal batteries. Its solid-state battery cell technology has an energy density, enhanced safety, fast charging capability, and small size. Company. Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. Rekha Khandelwal has no position in any of the stocks mentioned. and free of charge. 7 analysts have issued 12 month price targets for QuantumScape's stock. What's the relationship between wh/L and wh/kg in batteries? 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. 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. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot production line, and the adjacent three new buildings. In concrete terms, the latter should be possible in San Jos from 2023. They also announced a plan to bring the product to volume production in partnership with Volkswagen by 2024. The future is solid. The Motley Fool has no position in any of the stocks mentioned. Canadas Population at 38 Million and Adding 4 Million Immigrants from Now to 2030, How to Keep Your Cryptocurrencies Safe in 2020. 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. The Tesla and Panasonic veteran was a key hire when she joined QuantumScape to help bring battery innovations from the lab to the factory floor. Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. 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. The solid-state battery specialist also plans to invest part of the proceeds in its joint venture with Volkswagen. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. The expanded plant would start producing in 2027. Volkswagen says it is looking to produce car batteries with QuantumScape's technology in 2025. The plant, called QS-0, will be able to produce more than 100,000 samples of solid-state cells per year, the announcement said. 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. QuantumScape is on a mission to transform energy storage with solid-state lithium-metal battery technology. An expansion of capacity by more than double would thus lead to an output of more than 200,000 samples. QuantumScape has been promising to present not only a solid-state platform that will work with any lithium-ion chemistry. It's a bad sign for the company backed by Volkswagen. 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. in Business Administration from U.C. 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. Many of these factors are outside QuantumScapes control and are difficult to predict. Come join us on our mission as we revolutionize energy storage to enable a sustainable future. QuantumScape was founded in 2010 to create a battery that doesnt make compromises and after a decade of hard work, weve built a technology that enables the fast charging, long-lasting and safer batteries required to power zero-emissions transportation. 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. QS-0 will be located in "a second. The Motley Fool has a disclosure policy. Type Public Status Active Founded 2010 HQ 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. 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. workday short, to the point, across Europe and beyond. ChatGPT Sounds Exactly Like Us. Initially, it will have a 1 GWh production capacity. May 17, 2021 at 8:31am ET By: Gustavo Henrique. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. in Business Administration from U.C. QuantumScape And VW Are Selecting Where To Make Solid-State Cells Salzgitter is so far the location with more chances to produce these batteries. 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. QuantumScape is a company that provides electrical energy storage solutions. QuantumScape hopes to provide cells for a few hundred test vehicles each year with it for all manufacturers interested in them. 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. 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. [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. Tesla uses a dry electrode, where "dry" doesn't describe the battery but rather is a simplified manufacturing process that reduces manufacturing cost. in Mechanical Engineering, and a Ph.D. in Mechanical Engineering from Stanford University. ADVERTISEMENT Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. For more information, please visit www.quantumscape.com. The transaction was completed in November 2020 and raised capital for the series production of batteries. ET. 5 min read. 59,9%. 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. in Computer Science from Stanford University. The company is headquartered in San Jose, California and employs around 400 people. [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. 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 Technology Drive location, which totals 87,100. 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. After a Scorpion Capital report claimed QuantumScape was a pump-and-dump SPAC scam, the solid-state battery startup could not seem to care less. Quantumscape plans to go public with a SPAC deal before the end of the year. Our technology creates the lithium anode in situ during the first charge, an innovation that dramatically simplifies battery design and makes it fundamentally cheaper to manufacture. 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.. Our innovative battery cell technology can store energy more efficiently and reliably than todays lithium-ion batteries. It depends on the density of the materials used in the battery. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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 . If they keep improving like they have been so far, they will perhaps be at 30 USD/kWh in 2028. Berkeley and a M.S. This reminds me of the debate about silicon and gallium arsenide in the chip business. 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. 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. . Its proprietary solid-state battery design requires a major capital raise for. Salzgitter will be where the German carmaker will have its first 40 GWh gigafactory in Europe. In 2025, Prologium plans to reach 900 Wh/L batteries. Apart from Volkswagen (VWAGY -0.29%), QuantumScape is collaborating with two other auto original equipment manufacturers (OEMs). QuantumScape developed the industrys first anode-less cell design, which delivers high energy density while lowering material costs and simplifying manufacturing. The deal should result in a valuation of $3.3 billion and leave Quantumscape with over $1 billion to fund its factory and plans. Fred is the Editor in Chief and Main Writer at Electrek. The company has confirmed 10-year lease agreements for the three new buildings of QS Campus. in Mathematical Economics from Colgate University and a J.D. VW ID. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. For more information, please visit www.quantumscape.com. Quantum scape expects to get 70 USD/kWh in 2028. They would then expand the plant for 20 GWh/year plant. QuantumScape Wants To Raise $859 Million To Increase QS-0 Capacity, QuantumScape: Only We Have A Viable Solid-State Lithium Metal Battery, a Scorpion Capital report claimed QuantumScape was a pump-and-dump SPAC scam,, It already houses Volkswagens first recycling plant, which started to operate in January, Jagdeep Singh told Sandy Munro, Volkswagen is pretty aware that the deal with QuantumScape is not exclusive, Heres How Fast An EV Heats Up Compared To An ICE Car, Watch Tesla Model 3 Attempt To Drive Through Deep Water, Carmax Sold Over Half Its Tesla Inventory In 24 Hours, VW ID.4 Is Being Shipped Without A Heat Pump Due To Semiconductor Shortage, Demand For Tesla's EVs Is Ridiculous Thanks To Price Cuts. Buzz Pro review: Is it enough to become iconic, again? My guess is that the ratio between lithium ion and solid state lithium will be a similar story, i.e. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels. You are buying everything these startups are telling you. Mr. Hettrich has served as QuantumScapes Chief Financial Officer and head of Business Operations since September 2018. Qatar Investment Authority and Fidelity Management and Research Company are the most recent investors. How cost reduction of 17% will bring batteries cost $50 per kwh in 2024 would and then will allow them to make about $70/kwh from the batteries. 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.