Many of these factors are outside QuantumScapes control and are difficult to predict. QuantumScape (NASDAQ:QS) stock is sitting in a sort of middle ground in terms of its evolution. In February 2021, QuantumScape announced a plan for a new pilot production factory ahead of the main factory. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. Even before the news, the stock has been on an upward trend since the middle of March. 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. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for use in electric vehicles. Made in Germany! *Average returns of all recommendations since inception. 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. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. [3][4] In 2012, QuantumScape began working with German automaker Volkswagen. More. Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. Volkswagen says it is looking to produce car batteries with QuantumScape's technology in 2025. The solid-state battery startup expects to be able to produce 200,000 cells. Salzgitter will be where the German carmaker will have its first 40 GWh gigafactory in Europe. Location: 1710 Automation Pkwy, located just north of Hostetter Road between Lundy Avenue and Interstate 680 and across the street from a Costco warehouse. Mr. McCarthy has served as QuantumScapes Chief Legal Officer and Head of Corporate Development since March 2013. The company is on a mission to revolutionize energy storage to enable a sustainable 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. All we have mostly in Canton are corporate chain restaurants. Considering QS-1 will apparently be just in the same city but not the same plant, were more inclined to the second hypothesis. With 24 layers, each comprising . The new campus comprises the current site of QS-0, QuantumScape's pre-pilot production line, and the adjacent three new buildings. 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. 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. 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. electrive.com is a newsservice 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. Thats when companies try to bury unpleasant information by releasing it at the end of the work week, when reporters are tired and readers are headed to happy hour. It intends to accelerate the commercialization of solid-state batteries for e-mobility. The short story is that they claim to have solved the solid-state battery problem. ChatGPT Sounds Exactly Like Us. The factory will make early production versions of the company's advanced electric. in Management from Stanford Graduate School of Business. Quantumscape believes they can get battery energy density to 500 Wh/kg and a battery cost reduction of 17%. 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. 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 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. 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 . QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. And the ceramic separator is non-flammable and noncombustible, making our batteries safer than conventional lithium-ion batteries. 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. The company is headquartered in San Jose, California and employs around 400 people. 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. [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. Invest better with The Motley Fool. Written By Brian Wang, Nextbigfuture.com (Brian owns shares of Tesla). The Company is focused on the development and commercialization of its solid-state lithium-metal batteries. It successfully tested 10-layer cells in 2021. Would highly recommend coming here. Fred is the Editor in Chief and Main Writer at Electrek. 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. 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. In addition, the solid-state battery does not have a classic anode. QuantumScape has also collaborated with Fluence Energy (FLNC 2.40%) to supply batteries for use in the latter's storage products. Quantum scape expects to get 70 USD/kWh in 2028. Free-Float. He is open to public speaking and advising engagements. 570. The deal should result in a valuation of $3.3 billion and leave Quantumscape with over $1 billion to fund its factory and plans. Tesla is on the fourth iteration of Maxwell Technology drycell production processes and they are iterating every 3-4 months. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. In 2018, Volkswagen invested $100 million in the company, becoming the largest shareholder. It has been claimed that solid-state batteries would enable Volkswagen and Toyota to leapfrog Tesla battery technology. 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. 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. These samples are nearly full-size prototypes that will allow the automakers to test and begin . Our The final cells used in vehicles may need several dozen layers in each battery pack. Expansion to three new facilities to scale advanced manufacturing capabilities. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology. It's a bad sign for the company backed by Volkswagen. Five years from now, the company expects to have a . 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. However, the industry has several challenges to overcome in order to make solid-state viable, and QuantumScape claims to have solved them all. Called QS-0, the plant is expected to be capable of producing over 100,000 units of solid-state cells per year. Their QS share price forecasts range from $4.00 to $27.00. The company now needs to develop multilayered cells with commercial dimensions while adding several more layers. QuantumScape expects to produce cells for use in test cars in 2023 and start commercial production in 2024. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. The plant, called QS-0, will be able to produce more than 100,000 samples of solid-state cells per year, the announcement said. 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. 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 Computer Science from Stanford University. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. Rekha Khandelwal has no position in any of the stocks mentioned. The company is on a mission to revolutionize energy storage to enable a sustainable future. builds on the email briefing we publish Alongside this, the developer promises a remaining battery capacity of more than 80 per cent after 800 cycles, which means that hundreds of thousands of kilometres can be covered. The new plant in Livonia, Mich. is expected to expand A123's manufacturing capabilities . For Investors John Saager, CFA Head of Investor Relations ir@quantumscape.com workday short, to the point, One of these is a top 10 global auto manufacturer by revenue, and the other is a luxury auto company. 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. As a result of the merger, QuantumScape will receive $1 billion in financing, including funding from Volkswagen and the Qatar Investment Authority. The pilot-line facility, QS-1, will initially be a 1-gigawatt . 10/26/2022. The transaction was completed in November 2020 and raised capital for the series production of batteries. 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. 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The company expects to produce cells for use in test cars in 2023. 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 . Get interesting investment ideas by Fred Lambert, ChargePoint Home WiFi Enabled Electric Vehicle (EV) Charger, Stay up to date with the latest content by, Electric Vehicle Price Guide best prices for dealers in the US, impressive data about its current battery cells, Tesla (TSLA) is seeing unprecedented demand, stores hitting new records, The worlds largest electric ferry can take you and your closest 2000 friends across the ocean, DC fast charger maker Tritium just got a huge order from BP, Schneider debuts its first eCascadia electric semi truck, Subscribe to Electrek on YouTube for exclusive videos. 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. As the capital of Silicon Valley, San Jose continues to welcome the growth of innovative tech leaders like QuantumScape, said San Jose Mayor Sam Liccardo. On average, they predict the company's stock price to reach $13.86 in the next twelve months. 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. There is a 37-page Investor Presentation. QuantumScape ( NYSE: QS) has fallen pretty far from its high of over $130 per share back in late December. 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.. Mr. Singh co-founded QuantumScape and has served as its Chief Executive Officer since QuantumScapes incorporation in May 2010. The team listed the properties the material would need to have: 1) resist dendrites. Prior to joining QuantumScape, he was the founder and Chief Executive Officer at Infinera Corporation (NASDAQ: INFN), a telecommunications company, from 2001 to 2009. The expanded plant would start producing in 2027. VW ID. Solid-state batteries have long been known to have the potential for higher capacity than conventional li-ion batteries with liquid electrolytes. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. Tesla battery system reduces the need for structural steel. QuantumScape is registered under the ticker NYSE:QS . As we shift into the next phase of our growth trajectory, developing advanced manufacturing capabilities becomes more critical. Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. Even if they execute flawlessly, they will have too little capacity to matter and the prices will be too high. in Business Administration from U.C. The Technology Drive location, which totals 87,100. 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,. 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. 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. 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. Its goal is not to be a manufacturing marvel but rather to supply engineering cells for prototypes. 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. FTC: We use income earning auto affiliate links. 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. Replacing this century-old technology wont happen overnight, but with the help of our automotive partners, our dedicated team of world-class scientists and engineers is working around the clock to put our breakthrough, solid-state technology on the road as soon as possible. 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. QuantumScape, so far, has collaborations with four key customers -- three automotive and one stationary energy-storage product manufacturer. Qatar Investment Authority and Fidelity Management and Research Company are the most recent investors. QuantumScape is on a mission to transform energy storage with solid-state lithium-metal battery technology. Many of these factors are outside QuantumScapes control and are difficult to predict. 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. 7 analysts have issued 12 month price targets for QuantumScape's stock. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. Our mail-out and online service cover Battery startup QuantumScape dropped some news last week that we reporterslike to call a Friday night news dump. [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. 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. Source: QuantumScape via Green Car Congress. 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. 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. Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. [1] Investors include Bill Gates and Volkswagen. This reminds me of the debate about silicon and gallium arsenide in the chip business. In 2025, Prologium plans to reach 900 Wh/L batteries. The recycling plant could source raw materials to the solid-state cell plant in a much easier way. [2] History [ edit] While one would be hard-pressed to argue that the nearly 70% premium over today's price. in Mechanical Engineering, and a Ph.D. in Mechanical Engineering from Stanford University. Price as of January 18, 2023, 11:16 a.m. Ms. Fong holds a B.S. 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 Jagdeep Singh told Sandy Munro, Volkswagen is pretty aware that the deal with QuantumScape is not exclusive. QuantumScape is a company that provides electrical energy storage solutions. The companys mission is to revolutionize energy storage to enable a sustainable future. articles a month for anyone to read, even non-subscribers! QuantumScape's cells use a solid-state separator in place of the porous separators used in conventional lithium-ion batteries. The Wolfsburg-based company now owns a third of the California-based company. Down 86% in This Bear Market, Can QuantumScape Stock Recover in 2023? every workday since 2013. insideevs.com,electrek.co,techcrunch.com,ir.quantumscape.com,sec.report. {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. Mr. McCarthy also currently serves on the board of QSV Operations LLC. Berkeley and a M.S. BMW iX review: How efficient is the BMW eSUV in real life? To make the world smarter, happier, and richer. 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. Even before the news, the stock has been on an upward trend since the middle of March. Initially, it will have a 1 GWh production capacity. 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. 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. 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.. 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. in Management from Stanford Graduate School of Business. The company is headquartered in San Jose, California and employs around 400 people. 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. QuantumScape Corp (NYSE: QS) has secured a new set of buildings in San Jose for its future manufacturing hub, QS Campus. QuantumScape's batteries may increase electric vehicles' range considerably for the same battery size. QuantumScape is on a mission to transform energy storage. QuantumScape Reports Third Quarter 2022 Business and Financial Results. 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. 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. Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. "Tesla dry cells and silicon anodes mean that solid-state batteries will not be able to beat advanced lithium-ion on energy density.". As QuantumScape embarked on the search for a solid electrolyte, Singh and Holme went back to the drawing board. The new research and manufacturing site is dramatically larger than QuantumScape's current headquarters at 1730 Technology Drive in San Jose. 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.

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