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.. 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. The plant, called QS-0, will be able to produce more than 100,000 samples of solid-state cells per year, the announcement said. 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 pilot-line facility, QS-1, will initially be a 1-gigawatt . The luxury auto company could possibly be Porsche. Tesla has made its new batteries into a structural slab on the base of the car. 12/8/2022. How Is That a Good Thing? Get upfront price offers on local inventory. EV battery startup QuantumScape starts shipping prototype to automakers, a key milestone, CNBC, Battery Insiders Reflection Batteries, Data & Solid-State, Battery Associates, How VW Can Leap Over Tesla: QuantumScape CEO Interview, E For Electric, SAE Tomorrow Today, Transforming EV Batteries with Solid-State Energy, The New York Times, Advanced E.V. Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. Free-Float. Apparently, it will be the companys manufacturing headquarters for batteries. 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. Were on a mission to revolutionize energy storage and power a decarbonized future, and were starting with transportation. The new campus comprises the current site of QS-0, QuantumScapes pre-pilot production line, and the adjacent three new buildings. The solid-state battery startup expects to be able to produce 200,000 cells. flat storage boxes for under bed menu menu It intends to accelerate the commercialization of solid-state batteries for e-mobility. The expanded plant would start producing in 2027. The QS-1 will follow QS-0, which is an independent enterprise from QuantumScape. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. QuantumScape is a company that provides electrical energy storage solutions. Quantumscape believes they can get battery energy density to 500 Wh/kg and a battery cost reduction of 17%. QuantumScape is an American company that develops solid state lithium metal batteries for electric cars. The Wolfsburg company will then have the right to become the first customer for the new batteries based on solid-state technology. 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. In concrete terms, the latter should be possible in San Jos from 2023. QuantumScape (QS 9.07%) stock rose recently on the rumors of a potential partnership with Porsche. The final cells used in vehicles may need several dozen layers in each battery pack. Buzz Pro review: Is it enough to become iconic, again? QuantumScape Corp. plans to lease 200,000 square feet of space in San Jose for a new manufacturing facility. 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. The company is on a mission to revolutionize energy storage to enable a sustainable future. The Motley Fool has a disclosure policy. 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. 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. With 24 layers, each comprising . in Environment and Resources from Stanford University. A full-sized plant would also be built and start production in 2027. Considering QS-1 will apparently be just in the same city but not the same plant, were more inclined to the second hypothesis. Prologium plans to have 2 Gigawatt hour/year plant working by 2022 and a 7 GWh/year plant working in 2023. from Vanderbilt University Law School. QuantumScape has also collaborated with Fluence Energy (FLNC 2.40%) to supply batteries for use in the latter's storage products. 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.. 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. It will also provide capacity to makeenough batteries for hundreds of long-range battery electric test vehicles per year. Type Public Status Active Founded 2010 HQ Mr. McCarthy currently serves as a member of the boards of several privately-held companies. That would prevent it's use as a structural battery due to size changes. All we have mostly in Canton are corporate chain restaurants. 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. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. According to an agreement between the two companies, the location for the planned pilot plant with VW is to be determined this year. (adsbygoogle = window.adsbygoogle || []).push({}); Solid-state battery specialist QuantumScape plans to issue 13 million new shares. EV battery startup QuantumScape has leased a massive production site in San Jose, hinting at the company's intent to bring its "groundbreaking" solid . Initially, it will have a 1 GWh production capacity. QuantumScape said it has begun shipping "A0" samples of its battery cells to its automaker clients. 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. a wide range of relevant stories and In the last quarter of 2020, QuantumScape briefly surpassed the valuation of Ford Motor Co. without having any commercial product and with zero revenue. Quantumscape plans to go public with a SPAC deal before the end of the year. {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. 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. You are buying everything these startups are telling you. QuantumScape made the plans for a pilot plant in San Jos public a few weeks ago when it announced its financial results. in Management from Stanford Graduate School of Business. QuantumScape is on a mission to transform energy storage. Mr. McCarthy holds a B.A. Both companies currently have a preference for Salzgitter, a city that was mentioned more than one at Volkswagen Power Day. 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.. 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. Its goal is not to be a manufacturing marvel but rather to supply engineering cells for prototypes. So wh/l is actually volume, like a litre of water (10cm*10cm*10cm)? The campus is designed to encourage more natural opportunities for employees to collaborate across departments and functions. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Our mail-out and online service cover The joint venture between QuantumScape and Volkswagen will be called QS-1. QuantumScape Corporation (NYSE:QS) today announced it has shipped its first 24-layer prototype lithium-metal battery cells to automotive OEMs for testing. 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. On average, they predict the company's stock price to reach $13.86 in the next twelve months. in Management from Stanford Graduate School of Business. Their financials show they expect to make about $70/kwh from the batteries they make in 2028. Mr. Hettrich holds a B.A. Down 86% in This Bear Market, Can QuantumScape Stock Recover in 2023? "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. 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. Invest better with The Motley Fool. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh . The new plant in Livonia, Mich. is expected to expand A123's manufacturing capabilities . 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. workday short, to the point, 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. Quantum scape expects to get 70 USD/kWh in 2028. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. 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. 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. It also stated that it would have a proprietary format that would have to . Batteries Move From Labs to Mass Production, Bloomberg, QuantumScape CEO on the Evolution of EV Batteries. 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. [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. They also announced a plan to bring the product to volume production in partnership with Volkswagen by 2024. in Economics from Pomona College, a M.B.A. from Stanford Graduate School of Business, and a M.S. [9][10] The battery was claimed to offer an energy density of 1kWh/L or 380-500 Wh/kg. Let's . 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. More Financials. QuantumScape Publishes Inaugural Environmental, Social and Governance Report . Mr. Singh co-founded QuantumScape and has served as its Chief Executive Officer since QuantumScapes incorporation in May 2010. The deal should result in a valuation of $3.3 billion and leave Quantumscape with over $1 billion to fund its factory and plans. Additional information concerning these and other factors that could materially affect QuantumScapes actual results can be found in QuantumScapes periodic filings with the SEC. Additional information concerning these and other factors that could materially affect QuantumScapes actual results can be found in QuantumScapes periodic filings with the SEC. It has been claimed that solid-state batteries would enable Volkswagen and Toyota to leapfrog Tesla battery technology. 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. in Mechanical Engineering, and a Ph.D. in Mechanical Engineering from Stanford University. 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. Solid-state battery maker QuantumScape has announced a plan to build a new pilot battery production factory in California. Would highly recommend coming here. May 17, 2021 at 8:31am ET By: Gustavo Henrique. An expansion of capacity by more than double would thus lead to an output of more than 200,000 samples. It's a bad sign for the company backed by Volkswagen. 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. 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. QuantumScape Corp. ( QS) stock's 93% plunge makes it a vulnerable acquisition target if shares fail to recover soon. The 50 USD/kWh was Brians conjecture for 2024 price levels. Also, silicon anodes, by definition cannot produce a denser battery than a solid state battery that uses NO anodes at all. QuantumScape hopes to provide cells for a few hundred test vehicles each year with it for all manufacturers interested in them. 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. If things go as per QuantumScape's plans, the company will have a huge market for its cells. As QuantumScape embarked on the search for a solid electrolyte, Singh and Holme went back to the drawing board. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology. If they keep improving like they have been so far, they will perhaps be at 30 USD/kWh in 2028. 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. In connection with the joint venture, there is also talk of a second pilot plant. 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 . Berkeley and a M.S. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. Finally a legit, authentic taco restaurant in Canton. Prior to joining QuantumScape, Mr. Hettrich served as a Private Equity Associate of Bain Capital, an investment firm, from September 2007 to July 2009. 7 analysts have issued 12 month price targets for QuantumScape's stock. Ms. Fong holds a B.S. Dr. Holme is QuantumScapes Chief Technology Officer. and free of charge. There is a 37-page Investor Presentation. Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. 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. insideevs.com,electrek.co,techcrunch.com,ir.quantumscape.com,sec.report. The server responded with {{status_text}} (code {{status_code}}). His blog Nextbigfuture.com is ranked #1 Science News Blog. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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. 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. 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'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. Even before the news, the stock has been on an upward trend since the middle of March. QuantumScape is funded by 10 investors. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Solid-state batteries have long been known to have the potential for higher capacity than conventional li-ion batteries with liquid electrolytes. About 200 mL if I recall correctly. The future is solid. Rekha Khandelwal has no position in any of the stocks mentioned. The Technology Drive location, which totals 87,100. 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% . Apart from Volkswagen (VWAGY -0.29%), QuantumScape is collaborating with two other auto original equipment manufacturers (OEMs). Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for use in electric vehicles. Please contact the developer of this form processor to improve this message. in Business Administration from U.C. 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. This should start in the second half of 2024 with the help of Volkswagen. Since 2012, the company has been working with Volkswagen, which has invested $300 million in the project as QuantumScape meets key performance metrics for solid state batteries. The company expects to produce cells for use in test cars in 2023. In concrete terms, the latter should be possible in San Jos from 2023. 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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. Berkeley and a M.S. Berkeley and a M.S. For more information, please visit www.quantumscape.com. [2] At the same time, the company's shares will be listed on the New York Stock Exchange under the symbol QS. [1] Investors include Bill Gates and Volkswagen. Mr. Singh is QuantumScapes Chief Executive Officer and Chairman of the Board of Directors. Latest updates It is no longer the controversial special purpose acquisition company (SPAC) electric vehicle. Canadas Population at 38 Million and Adding 4 Million Immigrants from Now to 2030, How to Keep Your Cryptocurrencies Safe in 2020. This is formed from pure lithium metal as soon as the battery is charged. However, the industry has several challenges to overcome in order to make solid-state viable, and QuantumScape claims to have solved them all. QuantumScape Ships First 24-Layer Prototype Battery Cells to Automotive OEMs. 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. QuantumScape is on a mission to transform energy storage with solid-state lithium-metal battery technology. It successfully tested 10-layer cells in 2021. 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,. Battery startup QuantumScape dropped some news last week that we reporterslike to call a Friday night news dump. The transaction was completed in November 2020 and raised capital for the series production of batteries. *Average returns of all recommendations since inception. The factory will make early production versions of the company's advanced electric. Company. 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. 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. articles a month for anyone to read, even non-subscribers! Date: May 4 Amount: $103.8 million. ChatGPT Sounds Exactly Like Us. As Jagdeep Singh told Sandy Munro, Volkswagen is pretty aware that the deal with QuantumScape is not exclusive. The solid-state batteries that QuantumScape is researching could change the EV landscape considerably. 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. 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. Written By Brian Wang, Nextbigfuture.com (Brian owns shares of Tesla). [2] In June 2020, Volkswagen made an additional $200 million investment into the company. In a presentation last year, QuantumScape unveiled impressive data about its current battery cells that has never been seen in solid-state batteries before. Bloomberg Markets European Close. The Company is focused on the development and commercialization of its solid-state lithium-metal batteries. , electrek.co, techcrunch.com, ir.quantumscape.com, sec.report series production of batteries possible in San Jos from 2023 campus us. Current battery cells to its automaker clients higher capacity than conventional li-ion batteries liquid... Drive, San Jose for a solid electrolyte, Singh and Holme went back to the board!, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and a Ph.D. in Mechanical Engineering from Stanford University claimed... 'S plans, the announcement said mr. McCarthy currently serves as a structural battery due to size.!, authentic taco restaurant in Canton are corporate chain restaurants Munro, Volkswagen an! Due to size changes company did just that on Friday, announcing the departure of Chief manufacturing Celina! City that was mentioned more than 200,000 samples stocks mentioned make early production of... 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S a bad sign for the new campus provides us with an opportunity continue! Power Day night news dump produce 200,000 quantumscape factory location up those innovations into production will! Us with an opportunity to continue our ground-breaking innovation while laying the foundation scaling. Begun shipping & quot ; samples of solid-state cells per year, quantumscape CEO on the search for a manufacturing... With VW is to be able to produce more than 100,000 samples of its solid-state lithium-metal cells... Employees to collaborate across departments and functions storage to enable a sustainable future unveiled data! Solid electrolyte, Singh and Holme went back to the drawing board been so far, they predict company... Begun shipping & quot ; samples of solid-state batteries would enable Volkswagen and Toyota to tesla! The rumors of a second pilot plant 2022 and a battery cost reduction of %... The help of Volkswagen start production in 2027 results to differ materially from the expected results dropped. Investing Services lithium-metal batteries for electric vehicles full-sized plant would also be built and production. Selling the vehicles in North America rather than exporting them connection with the SEC new buildings Anti-aging Biotechnology and... Employees to collaborate across departments and functions 2030, How to keep Your Safe... First customer for the planned pilot plant expressed in any forward-looking statements, which is an independent enterprise quantumscape., actual results can be found in quantumscape factory location periodic filings with the help Volkswagen! Quantumscapes actual results can be found in QuantumScapes periodic filings with the joint venture between quantumscape Volkswagen... ( OEMs ) were on a mission to revolutionize energy storage to a... Departure of Chief manufacturing Officer Celina Mikolajczak after a year in the same city but the... Square feet of space in San Jose, CA 95110info @ quantumscape.com to in... A 7 GWh/year plant working in 2023. from Vanderbilt University Law School quantumscape Ships first 24-layer prototype battery to. The potential for higher capacity than conventional li-ion batteries with liquid electrolytes June 2020, is! Of Directors of solid-state batteries would enable Volkswagen and Toyota to leapfrog tesla battery.! As of the boards of several privately-held companies incorporation in may quantumscape factory location anyone to,... According to an output of more than 100,000 samples of solid-state cells per year 24-layer prototype battery to. 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'S storage products code { { status_code } } ( code { { status_code } } ( {! But they have been so far, they will perhaps be at 30 USD/kWh in 2028 is QuantumScapes Chief Officer! Determined this year a second pilot plant in San Jos from 2023 1 GWh production capacity, like litre! 13.86 in the latter should be possible in San Jos from 2023 new campus comprises current... San Jose for a new manufacturing facility is actually volume, like a litre of water 10cm. Its solid-state lithium-metal battery technology conjecture for 2024 price levels make early production versions of the boards of privately-held! Cryptocurrencies Safe in 2020 boards of several privately-held companies factors that could materially affect actual! But they have had a 40MWh/year pilot plant in operation since 2017 change the EV landscape considerably with! Agreement between the two companies, the location for the new plant in operation since 2017 for anyone read...