The companies currently contemplate Salzgitter, Germany for the location. The new research and manufacturing site is dramatically larger than QuantumScape's current headquarters at 1730 Technology Drive in San Jose. Quantumscape plans to go public with a SPAC deal before the end of the year. 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. The batteries may increase an electric vehicle's range notably for the same battery size. Berkeley and a M.S. It is not yet clear where this plant will be built. So wh/l is actually volume, like a litre of water (10cm*10cm*10cm)? QuantumScapes new facilities will also house additional research and development and office space to accommodate hundreds of new employees. 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. 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 . More Financials. QuantumScape is on a mission to transform energy storage. QuantumScape completed its 2021 milestones as planned. across Europe and beyond. 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.. All we have mostly in Canton are corporate chain restaurants. As is the aim for the QS-1 pilot plant, which is still without a location, pilot cells are to be produced first in San Jos and later cells ready for series production. Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. Please contact the developer of this form processor to improve this message. VW ID. They were planning on "Quantum WebCrowdsourced Nanotronics" but they were told to tone it down a bit. in Management from Stanford Graduate School of Business. The companies currently contemplate Salzgitter, Germany for the location. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. This QuickTake adaptation of our award-winning podcast, The Pay Check, focuses on the racial wealth gap. The core of the QuantumScape technology is a ceramic separator, which is supposed to remedy exactly this. The Companys batteries are designed to enable longer range . from Vanderbilt University Law School. Ms. Fong holds a B.S. The short story is that they claim to have solved the solid-state battery problem. About 200 mL if I recall correctly. Its proprietary solid-state battery design requires a major capital raise for. This helps increase the volumetric density of the cell. [2] In June 2020, Volkswagen made an additional $200 million investment into the company. Come join us on our mission as we revolutionize energy storage to enable a sustainable future. tetra colorfusion led light outdoor extension cord reel Every cigar tells a story. The QS-1 will follow QS-0, which is an independent enterprise from QuantumScape. QuantumScape Corp (NYSE: QS) has secured a new set of buildings in San Jose for its future manufacturing hub, QS Campus. 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. Tesla is refining the production processes for new batteries and the new batteries have been produced in the tens of thousands. in Management from Stanford Graduate School of Business. QuantumScape Announces Timing of Third Quarter 2022 Financial Results and Webcast. Buzz Pro review: Is it enough to become iconic, again? Tesla, CATL and the other battery makers are scaling to terawatt-hours per year and continuing to drive down costs and increase energy density. The company is on a mission to revolutionize energy storage to enable a sustainable future. {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. Through Zalkon.com, you can check out Freds portfolio and get monthly green stock investment ideas. and free of charge. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels. The company believes that its solid-state batteries will be far more energy-dense than the lithium-ion batteries in use right now. The Motley Fool has no position in any of the stocks mentioned. Berkeley and a M.S. Considering QS-1 will apparently be just in the same city but not the same plant, were more inclined to the second hypothesis. QuantumScape Corporation (NYSE:QS) today announced it has shipped its first 24-layer prototype lithium-metal battery cells to automotive OEMs for testing. Qatar Investment Authority and Fidelity Management and Research Company are the most recent investors. 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 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. flat storage boxes for under bed menu menu What's the relationship between wh/L and wh/kg in batteries? The transaction was completed in November 2020 and raised capital for the series production of batteries. Both companies currently have a preference for Salzgitter, a city that was mentioned more than one at Volkswagen Power Day. [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. 09/29/2022. 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. Dr. Holme is QuantumScapes Chief Technology Officer. The industry-facing website Our In February 2021, QuantumScape announced a plan for a new pilot production factory ahead of the main factory. Its goal is not to be a manufacturing marvel but rather to supply engineering cells for prototypes. QuantumScape has also collaborated with Fluence Energy (FLNC 2.40%) to supply batteries for use in the latter's storage products. It has been claimed that solid-state batteries would enable Volkswagen and Toyota to leapfrog Tesla battery technology. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. Dr. Holme has served as QuantumScapes Chief Technology Officer since January 2011. He is open to public speaking and advising engagements. 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. Prior to joining QuantumScape, he was the founder and Chief Executive Officer at Infinera Corporation (NASDAQ: INFN), a telecommunications company, from 2001 to 2009. Prior to this, Mr. Hettrich served as QuantumScapes Vice President of Business Operations from March 2016 to March 2018, as Senior Director of Finance and Product Management from March 2014 to March 2016, as a Director of Product Management from March 2013 to March 2014, and as a Manager of Product Management from January 2012 to March 2013. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. Apparently, it will be the companys manufacturing headquarters for batteries. Were on a mission to revolutionize energy storage and power a decarbonized future, and were starting with transportation. The published results with single-layer pouch cells suggest that QuantumScapes battery can be quickly charged to 80 per cent capacity in 15 minutes. Learn More{{/message}}, Quantumscape Plans 1 Gigawatt Hour Battery Plant in 2024. These are the key requirements to make a lithium-metal anode, which in turn enables high energy density, fast charge, and long life. 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. The final cells used in vehicles may need several dozen layers in each battery pack. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. 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. 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. ET. QuantumScape Reports Third Quarter 2022 Business and Financial Results. In March, QuantumScape announced an additional $100 million in funding from Volkswagen after Volkswagen confirmed through tests at its labs in Germany that QuantumScape cells met the established technical milestone. Please support local businesses. For decades, it was claimed that silicon was "running out of speed" and that a switch to GaAs was about to happen in a few years. Prior to joining QuantumScape, he was a Research Associate at Stanford University from June 2008 to January 2011. An expansion of capacity by more than double would thus lead to an output of more than 200,000 samples. Mr. Singh is QuantumScapes Chief Executive Officer and Chairman of the Board of Directors. 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. Please contact the developer of this form processor to improve this message. Free-Float. "Tesla dry cells and silicon anodes mean that solid-state batteries will not be able to beat advanced lithium-ion on energy density.". QuantumScape said it has begun shipping "A0" samples of its battery cells to its automaker clients. QuantumScape is an American company that develops solid state lithium metal batteries for electric cars. I think consumer electronics (like cell phones) developers worry more about Wh/L and electric car developers worry more about Wh/kg. Tesla uses a dry electrode, where "dry" doesn't describe the battery but rather is a simplified manufacturing process that reduces manufacturing cost. 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% . articles a month for anyone to read, even non-subscribers! 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. in Economics from Pomona College, a M.B.A. from Stanford Graduate School of Business, and a M.S. 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. Until now, the low cycle stability has been considered a major weakness of solid-state batteries. Mr. McCarthy holds a B.A. (adsbygoogle = window.adsbygoogle || []).push({}); Subscribe to electrive today by The solid-state battery startup expects to be able to produce 200,000 cells. 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 Physics, a M.S. QuantumScape And VW Are Selecting Where To Make Solid-State Cells Salzgitter is so far the location with more chances to produce these batteries. The joint venture between QuantumScape and Volkswagen will be called QS-1. . The company plans to continue aggressive hiring of world-class talent through 2022 and beyond. Quantum scape expects to get 70 USD/kWh in 2028. In all, QuantumScape could already be delivering its batteries to auto OEMs successfully three years from now. 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. Location: 1710 Automation Pkwy, located just north of Hostetter Road between Lundy Avenue and Interstate 680 and across the street from a Costco warehouse. It's a bad sign for the company backed by Volkswagen. How Is That a Good Thing? a wide range of relevant stories and 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. Live from New York and London, analyzing the major market moving stories across the day in Europe, hear from the biggest newsmakers and showcase the unrivaled expertise of Bloomberg News. Expansion to three new facilities to scale advanced manufacturing capabilities. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for use in electric vehicles. The campus is designed to encourage more natural opportunities for employees to collaborate across departments and functions. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh . At 2028, Tesla will be at one or two TWh per year and with costs below 50 USD/kWh. 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.. May 17, 2021 at 8:31am ET By: Gustavo Henrique. Learn More{{/message}}, {{#message}}{{{message}}}{{/message}}{{^message}}It appears your submission was successful. Additional information concerning these and other factors that could materially affect QuantumScapes actual results can be found in QuantumScapes periodic filings with the SEC. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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. 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. 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. In 2018, Volkswagen invested $100 million in the company, becoming the largest shareholder. This should start in the second half of 2024 with the help of Volkswagen. The recycling plant could source raw materials to the solid-state cell plant in a much easier way. in Mechanical Engineering, and a Ph.D. in Mechanical Engineering from Stanford University. 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. 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.. Mr. McCarthy currently serves as a member of the boards of several privately-held companies. Berkeley and a M.S. 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 has been based in San Jose since its founding in 2010. 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. https://www.electrive.com/2021/03/25/quantumscape-to-open-second-pilot-plant/. Chart reflects 100% of factory financials. You can send tips on Twitter (DMs open) or via email: fred@9to5mac.com. ADVERTISEMENT It will also provide capacity to makeenough batteries for hundreds of long-range battery electric test vehicles per year. QuantumScape plans to spend between $230 million and $290 million this year to continue the development of its battery cells and build the QS-0 factory. 12/8/2022. Being an investor in the startup, the German automaker will also benefit from any success it has with its competitors. For more information, please visit www.quantumscape.com . 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,. 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. Our mail-out and online service cover Solid-state battery maker QuantumScape has announced a plan to build a new pilot battery production factory in California. The team listed the properties the material would need to have: 1) resist dendrites. In the last quarter of 2020, QuantumScape briefly surpassed the valuation of Ford Motor Co. without having any commercial product and with zero revenue. 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. QuantumScape (QS -1.45%) stock rose recently on the rumors of a potential partnership with Porsche. Canadas Population at 38 Million and Adding 4 Million Immigrants from Now to 2030, How to Keep Your Cryptocurrencies Safe in 2020. 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 Motley Fool has a disclosure policy. Mr. Singh holds a B.S. Ms. Fong holds a B.S. every workday since 2013. His blog Nextbigfuture.com is ranked #1 Science News Blog. This suggests a possible upside of 67.0% from the stock's current price. 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. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. [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. [2] At the same time, the company's shares will be listed on the New York Stock Exchange under the symbol QS. As we shift into the next phase of our growth trajectory, developing advanced manufacturing capabilities becomes more critical.