My guess is that the ratio between lithium ion and solid state lithium will be a similar story, i.e. It will also provide capacity to makeenough batteries for hundreds of long-range battery electric test vehicles per year. Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. An expansion of capacity by more than double would thus lead to an output of more than 200,000 samples. QS-0 will be located in "a second. QuantumScape Announces Timing of Third Quarter 2022 Financial Results and Webcast. And the ceramic separator is non-flammable and noncombustible, making our batteries safer than conventional lithium-ion batteries. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. 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.. 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. 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 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. 570. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. QuantumScape is an American company that develops solid state lithium metal batteries for electric cars. Our innovative battery cell technology can store energy more efficiently and reliably than todays lithium-ion batteries. The pilot line will be based in San Jose and will be called QS0. [2] At the same time, the company's shares will be listed on the New York Stock Exchange under the symbol QS. The transaction was completed in November 2020 and raised capital for the series production of batteries. builds on the email briefing we publish QuantumScape, so far, has collaborations with four key customers -- three automotive and one stationary energy-storage product manufacturer. [2] In June 2020, Volkswagen made an additional $200 million investment into the company. QuantumScape Factory Economics (QS-1, 20GWh) Capex + Start-up Costs: $1.6B ~70% Cell Factory ~30% Separator Factory Equity Need: ~$500M Note: Assumes 5% annual price and cost declines. Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. In its Q2 2022 Shareholder Letter, the company did not even touch on the subject . The Motley Fool has a disclosure policy. The company will take possession of the new buildings and begin outfitting the facilities for specific purposes starting in January 2022. BMW iX review: How efficient is the BMW eSUV in real life? from Vanderbilt University Law School. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. To make the world smarter, happier, and richer. 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. 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. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. Called QS-0, the plant is expected to be capable of producing over 100,000 units of solid-state cells per year. 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. 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. 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. May 17, 2021 at 8:31am ET By: Gustavo Henrique. 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. in Mathematical Economics from Colgate University and a J.D. Their financials show they expect to make about $70/kwh from the batteries they make in 2028. 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. Mr. Hettrich holds a B.A. The companies currently contemplate Salzgitter, Germany for the location. QS-1 will follow QS-0, QuantumScapes planned pre-pilot line. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. 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. Rekha Khandelwal has no position in any of the stocks mentioned. The Companys batteries are designed to enable longer range . Get upfront price offers on local inventory. As we shift into the next phase of our growth trajectory, developing advanced manufacturing capabilities becomes more critical. It's expected to . Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. 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. Transportation is one of the top contributors to global greenhouse gas emissions, but todays EVs lack the performance, safety and cost required for mass-market adoption of zero emissions vehicles. Down 86% in This Bear Market, Can QuantumScape Stock Recover in 2023? They were planning on "Quantum WebCrowdsourced Nanotronics" but they were told to tone it down a bit. Expansion to three new facilities to scale advanced manufacturing capabilities. QuantumScape said it has begun shipping "A0" samples of its battery cells to its automaker clients. https://www.electrive.com/2021/03/25/quantumscape-to-open-second-pilot-plant/. Volkswagen says it is looking to produce car batteries with QuantumScape's technology in 2025. This will involve selling the vehicles in North America rather than exporting them. Cost basis and return based on previous market day close. 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. This suggests a possible upside of 67.0% from the stock's current price. 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. SOURCES Quantumscape, Prologium Moneyball Medium The core of the QuantumScape technology is a ceramic separator, which is supposed to remedy exactly this. Let's check out what the solid-state battery company has been up to lately and what its progress means for its stock. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. You can send tips on Twitter (DMs open) or via email: fred@9to5mac.com. The deal should result in a valuation of $3.3 billion and leave Quantumscape with over $1 billion to fund its factory and plans. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. 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. It depends on the density of the materials used in the battery. 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. Fred is the Editor in Chief and Main Writer at Electrek. One of these is a top 10 global auto manufacturer by revenue, and the other is a luxury auto company. Price as of January 18, 2023, 11:16 a.m. "We are planning to build a factory that can manufacture about 250,000 vehicles per year, and a Gigafactory to manufacture battery cells and the pack. QuantumScape developed the industrys first anode-less cell design, which delivers high energy density while lowering material costs and simplifying manufacturing. Prologium plans to have 2 Gigawatt hour/year plant working by 2022 and a 7 GWh/year plant working in 2023. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. 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