Their financials show they expect to make about $70/kwh from the batteries they make in 2028. developments in electric transport 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. VW ID. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Let's check out what the solid-state battery company has been up to lately and what its progress means for its stock. 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. The deal should result in a valuation of $3.3 billion and leave Quantumscape with over $1 billion to fund its factory and plans. Quantumscape plans to go public with a SPAC deal before the end of the year. QuantumScape is a company that provides electrical energy storage solutions. The companies currently contemplate Salzgitter, Germany for the location. The Motley Fool has a disclosure policy. 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. Ms. Fong holds a B.S. The server responded with {{status_text}} (code {{status_code}}). As we shift into the next phase of our growth trajectory, developing advanced manufacturing capabilities becomes more critical. Additional information concerning these and other factors that could materially affect QuantumScapes actual results can be found in QuantumScapes periodic filings with the SEC. 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% . The recycling plant could source raw materials to the solid-state cell plant in a much easier way. About 200 mL if I recall correctly. 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. QuantumScape (NASDAQ:QS) stock is sitting in a sort of middle ground in terms of its evolution. 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. 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. https://www.electrive.com/2021/03/25/quantumscape-to-open-second-pilot-plant/. Our innovative battery cell technology can store energy more efficiently and reliably than todays lithium-ion batteries. A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. The company hopes to work alongside experienced battery scientists in the Asia-Pacific region to further develop and manufacturer it battery technologies for electric vehicles. Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. The transaction was completed in November 2020 and raised capital for the series production of batteries. The expected proceeds of $859 million are to be invested in the companys planned pilot plant and in the joint venture with Volkswagen. 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. Making the world smarter, happier, and richer. Mr. McCarthy also currently serves on the board of QSV Operations LLC. The published results with single-layer pouch cells suggest that QuantumScapes battery can be quickly charged to 80 per cent capacity in 15 minutes. They also announced a plan to bring the product to volume production in partnership with Volkswagen by 2024. Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. in Environment and Resources from Stanford University. Its stock soared 49% in its first day of trading in November 2020 and had. 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. Even before the news, the stock has been on an upward trend since the middle of March. The companys mission is to revolutionize energy storage to enable a sustainable future. 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. flat storage boxes for under bed menu menu The Company is focused on the development and commercialization of its solid-state lithium-metal batteries. 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 . Date: May 4 Amount: $103.8 million. 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. 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 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. The Companys batteries are designed to enable longer range . I hope they fire the Head of Designer. The solid-state batteries that QuantumScape is researching could change the EV landscape considerably. Prior to joining QuantumScape, he was the Chief Administrative Officer at Infinera Corporation from April 2003 to March 2013. I was having difficulty seeing a litre of lithium. 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. Ms. Fong holds a B.S. "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. Home Energy Quantumscape Plans 1 Gigawatt Hour Battery Plant in 2024. from Vanderbilt University Law School. Anthony P. Plymouth Township, MI. QuantumScape completed its 2021 milestones as planned. My guess is that the ratio between lithium ion and solid state lithium will be a similar story, i.e. 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. The new research and manufacturing site is dramatically larger than QuantumScape's current headquarters at 1730 Technology Drive in San Jose. it will be decades before solid state will matter at all, if ever. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. The companies plan to begin a joint pilot program by 2023. Were on a mission to revolutionize energy storage and power a decarbonized future, and were starting with transportation. 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. QuantumScape Reports Third Quarter 2022 Business and Financial Results. It's expected to . QuantumScape's cells use a solid-state separator in place of the porous separators used in conventional lithium-ion batteries. newsletter is published every 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,. In addition, the solid-state battery does not have a classic anode. 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. Mr. McCarthy has served as QuantumScapes Chief Legal Officer and Head of Corporate Development since March 2013. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. 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. Mr. Hettrich also served as a Business Analyst at McKinsey & Company, a management consulting firm, from September 2004 to July 2007. every workday since 2013. The batteries may increase an electric vehicle's range notably for the same battery size. Dr. Holme is QuantumScapes Chief Technology Officer. The Technology Drive location, which totals 87,100. Cost basis and return based on previous market day close. However, the industry has several challenges to overcome in order to make solid-state viable, and QuantumScape claims to have solved them all. 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 . The QS-1 will follow QS-0, which is an independent enterprise from QuantumScape. 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. 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. You can send tips on Twitter (DMs open) or via email: fred@9to5mac.com. In all, QuantumScape could already be delivering its batteries to auto OEMs successfully three years from now. The solid-state battery startup expects to be able to produce 200,000 cells. The companies currently contemplate Salzgitter, Germany for the location. 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. 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 company believes that its solid-state batteries will be far more energy-dense than the lithium-ion batteries in use right now. Tesla is on the fourth iteration of Maxwell Technology drycell production processes and they are iterating every 3-4 months. Prologium plans to have 2 Gigawatt hour/year plant working by 2022 and a 7 GWh/year plant working in 2023. Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. QuantumScape has a post-money valuation in the range of $1B to $10B as of Jun 17, 2020 . QuantumScape developed the industrys first anode-less cell design, which delivers high energy density while lowering material costs and simplifying manufacturing. Is the quantumscape battery as shown in the slide suggesting that it physically expands when charged? 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. Called QS-0, the plant is expected to be capable of producing over 100,000 units of solid-state cells per year. 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. 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. 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. The future is solid. 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 And VW Are Selecting Where To Make Solid-State Cells Salzgitter is so far the location with more chances to produce these batteries. QuantumScape expects to produce cells for use in test cars in 2023 and start commercial production in 2024. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot production line, and the adjacent three new buildings. QuantumScape has also collaborated with Fluence Energy (FLNC 2.40%) to supply batteries for use in the latter's storage products. Its solid-state battery cell technology has an energy density, enhanced safety, fast charging capability, and small size. This reminds me of the debate about silicon and gallium arsenide in the chip business. 12/8/2022. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot . 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 made the plans for a pilot plant in San Jos public a few weeks ago when it announced its financial results. These are the key requirements to make a lithium-metal anode, which in turn enables high energy density, fast charge, and long life. Type Public Status Active Founded 2010 HQ In a presentation last year, QuantumScape unveiled impressive data about its current battery cells that has never been seen in solid-state batteries before. For more information, please visit www.quantumscape.com. Bloomberg Markets European Close. In addition, the solid-state battery is said to be extremely fireproof and to function on a broad temperature continuum without a major drop in performance even in cold temperatures as low as minus 30 degrees. 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. The pilot-line facility, QS-1, will initially be a 1-gigawatt . QuantumScape (NYSE: QS), a startup that is working on solid-state lithium metal batteries for electric vehicles, has seen its stock price decline by close to 9% over the last week (five trading . 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. insideevs.com,electrek.co,techcrunch.com,ir.quantumscape.com,sec.report. If all goes as planned, it QuantumScape expects revenue to grow gradually from $39 million in 2025 . The 50 USD/kWh was Brians conjecture for 2024 price levels. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for use in electric vehicles. Down 86% in This Bear Market, Can QuantumScape Stock Recover in 2023? At 2028, Tesla will be at one or two TWh per year and with costs below 50 USD/kWh. 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. 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. It released on May 14 that it is in the process of selecting where it will produce with Volkswagen. 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. While one would be hard-pressed to argue that the nearly 70% premium over today's price. QuantumScape was founded in 2010 by Jagdeep Singh, Tim Holme and Professor Fritz Prinz of Stanford University. The Wolfsburg-based company now owns a third of the California-based company. Initially, it will have a 1 GWh production capacity. 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. Source: QuantumScape via Green Car Congress. Canadas Population at 38 Million and Adding 4 Million Immigrants from Now to 2030, How to Keep Your Cryptocurrencies Safe in 2020. Solid-state battery maker QuantumScape has announced a plan to build a new pilot battery production factory in California. QS-1 will follow QS-0, QuantumScapes planned pre-pilot line. For more information, please visit www.quantumscape.com. in Business Administration from U.C. 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. 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