in Mechanical Engineering, and a Ph.D. in Mechanical Engineering from Stanford University. [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. An expansion of capacity by more than double would thus lead to an output of more than 200,000 samples. BMW iX review: How efficient is the BMW eSUV in real life? Our innovative battery cell technology can store energy more efficiently and reliably than todays 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. Mr. McCarthy holds a B.A. Ms. Fong holds a B.S. If things go as per QuantumScape's plans, the company will have a huge market for its cells. Would highly recommend coming here. The Wolfsburg-based company now owns a third of the California-based company. This suggests a possible upside of 67.0% from the stock's current price. every workday since 2013. Their QS share price forecasts range from $4.00 to $27.00. Ms. Fong holds a B.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 is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. 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. To make the world smarter, happier, and richer. The expanded plant would start producing in 2027. Invest better with The Motley Fool. ChatGPT Sounds Exactly Like Us. 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. 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. QuantumScape Corp (NYSE: QS) has secured a new set of buildings in San Jose for its future manufacturing hub, QS Campus. FTC: We use income earning auto affiliate links. This is formed from pure lithium metal as soon as the battery is charged. in Physics, a M.S. Both companies currently have a preference for Salzgitter, a city that was mentioned more than one at Volkswagen Power Day. Latest updates In connection with the joint venture, there is also talk of a second pilot plant. The company is headquartered in San Jose, California and employs around 400 people. 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. Hettrich also served as a Business Analyst at McKinsey & Company, a management consulting firm, from September 2004 to July 2007. SOURCES Quantumscape, Prologium Moneyball Medium 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. entering your email below. Dr. Holme is QuantumScapes Chief Technology Officer. Apart from Volkswagen (VWAGY -0.29%), QuantumScape is collaborating with two other auto original equipment manufacturers (OEMs). Company. [6] 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. QuantumScape (QS -1.45%) stock rose recently on the rumors of a potential partnership with Porsche. Tesla is on the fourth iteration of Maxwell Technology drycell production processes and they are iterating every 3-4 months. It will also provide capacity to makeenough batteries for hundreds of long-range battery electric test vehicles per year. 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. [2] History [ edit] In a presentation last year, QuantumScape unveiled impressive data about its current battery cells that has never been seen in solid-state batteries before. 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. Free-Float. The team listed the properties the material would need to have: 1) resist dendrites. Prologium plans to have 2 Gigawatt hour/year plant working by 2022 and a 7 GWh/year plant working in 2023. The solid-state battery specialist also plans to invest part of the proceeds in its joint venture with Volkswagen. This will not happen. It's expected to . This reminds me of the debate about silicon and gallium arsenide in the chip business. QuantumScape And VW Are Selecting Where To Make Solid-State Cells Salzgitter is so far the location with more chances to produce these batteries. It intends to accelerate the commercialization of solid-state batteries for e-mobility. Batteries Move From Labs to Mass Production, Bloomberg, QuantumScape CEO on the Evolution of EV Batteries. In concrete terms, the latter should be possible in San Jos from 2023. Additionally, the company needs to minimize volume manufacturing costs. 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. So wh/l is actually volume, like a litre of water (10cm*10cm*10cm)? As QuantumScape embarked on the search for a solid electrolyte, Singh and Holme went back to the drawing board. 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 could produce solid-state batteries in the German city of Salzgitter with Volkswagen in the future. The short story is that they claim to have solved the solid-state battery problem. Tesla battery system reduces the need for structural steel. 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. Berkeley and a M.S. . QuantumScape may have suffered a blow recently after it lost its chief manufacturing officer, Celina Mikolajczak. Source: QuantumScape via Green Car Congress. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. It depends on the density of the materials used in the battery. The companys mission is to revolutionize energy storage to enable a sustainable future. Prior to joining QuantumScape, he was a Research Associate at Stanford University from June 2008 to January 2011. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. For more information, please visit www.quantumscape.com . from Vanderbilt University Law School. Our mail-out and online service cover 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. [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. Dr. Holme has served as QuantumScapes Chief Technology Officer since January 2011. Please contact the developer of this form processor to improve this message. QuantumScape (NASDAQ:QS) stock is sitting in a sort of middle ground in terms of its evolution. Tesla is refining the production processes for new batteries and the new batteries have been produced in the tens of thousands. [9][10] The battery was claimed to offer an energy density of 1kWh/L or 380-500 Wh/kg. QuantumScape ($QS). [2] In June 2020, Volkswagen made an additional $200 million investment into the company. If the battery were really dense, it would take up less room in a device even if the weight necessary were still kind of high. Prior to joining QuantumScape, Mr. Hettrich served as a Private Equity Associate of Bain Capital, an investment firm, from September 2007 to July 2009. 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 . QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. Mr. McCarthy has served as QuantumScapes Chief Legal Officer and Head of Corporate Development since March 2013. 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. ET. 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. 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. They were excellent and well made. 10/26/2022. As a. Qatar Investment Authority and Fidelity Management and Research Company are the most recent investors. Anthony P. Plymouth Township, MI. in Business Administration from U.C. Do you want to help build one of the most critical parts of the future energy economy? Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. Incidentally, QuantumScape does not mention the new information on the pilot plants named QS-0 and QS-1 in its press release on the share issue; it is hidden in a long stock exchange notice, the SEC Report. Let's check out what the solid-state battery company has been up to lately and what its progress means for its stock. It is no longer the controversial special purpose acquisition company (SPAC) electric vehicle. Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. 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. electrive.com is a newsservice The company is headquartered in San Jose, California and employs around 400 people. The batteries may increase an electric vehicle's range notably for the same battery size. it will be decades before solid state will matter at all, if ever. The deal should result in a valuation of $3.3 billion and leave Quantumscape with over $1 billion to fund its factory and plans. In concrete terms, the latter should be possible in San Jos from 2023. Now that the Tesla batteries are the size of a very small can of softdrink, you can easily compare it to that volume of softdrink. "Tesla dry cells and silicon anodes mean that solid-state batteries will not be able to beat advanced lithium-ion on energy density.". QuantumScape developed the industrys first anode-less cell design, which delivers high energy density while lowering material costs and simplifying manufacturing. For Investors John Saager, CFA Head of Investor Relations ir@quantumscape.com After the new announcements from the stock exchange release and the new share issue, these statements may already be outdated. The transaction was completed in November 2020 and raised capital for the series production of batteries. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. SAN JOSE, Calif.(BUSINESS WIRE) QuantumScape Corporation (NYSE: QS) today announced QS Campus the future hub of its upcoming manufacturing activities after securing a new set of buildings in San Jose. Is refining the production processes for new batteries and the new batteries and new... Cause the actual results can be found in QuantumScapes periodic filings with the SEC quantumscape disclaims any duty to any. A Research Associate at Stanford University from June 2008 to January 2011 quantumscape and VW Selecting! Preference for Salzgitter, a city that was mentioned more than 200,000 samples design which! Iterating every 3-4 months a Research Associate at Stanford University company are the most critical of. 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