in Business Administration from U.C. QuantumScape is a company that provides electrical energy storage solutions. Berkeley and a M.S. Battery startup QuantumScape dropped some news last week that we reporterslike to call a Friday night news dump. Even before the news, the stock has been on an upward trend since the middle of March. QuantumScape was founded in 2010 by Jagdeep Singh, Tim Holme and Professor Fritz Prinz of Stanford University. There is a 37-page Investor Presentation. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. 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. Learn More{{/message}}, Quantumscape Plans 1 Gigawatt Hour Battery Plant in 2024. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. ADVERTISEMENT There is a 37-page Investor Presentation. 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. In a presentation last year, QuantumScape unveiled impressive data about its current battery cells that has never been seen in solid-state batteries before. QuantumScape is registered under the ticker NYSE:QS . Would highly recommend coming here. Note, 50 USD/kWh assumes that Tesla will not improve at all between 2022 and 2028.. Transportation is one of the top contributors to global greenhouse gas emissions, buttodays EVs lack the performance, safety and cost required for mass-market adoption of zero emissions vehicles. ET. Microsoft to Cut Engineering Jobs This Week as Layoffs Go Deeper, Apple Delays AR Glasses, Plans Cheaper Mixed-Reality Headset, Stocks Turn Lower as Growth in Focus; Dow Falls: Markets Wrap, Saudi Arabia Says Open to Settling Trade in Other Currencies, Amazon Kicks Off Round of Job Cuts Affecting 18,000 People. Considering QS-1 will apparently be just in the same city but not the same plant, were more inclined to the second hypothesis. The full-sized plant would have 2 to 4 times the capacity of the first expanded plant. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot . QuantumScape's cells use a solid-state separator in place of the porous separators used in conventional lithium-ion batteries. QuantumScape Reports Third Quarter 2022 Business and Financial Results. 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. Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. 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. It released on May 14 that it is in the process of selecting where it will produce with Volkswagen. In the same year, Volkswagen and QuantumScape announced the establishment of a joint production project to prepare for mass production of solid state batteries. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location. Volkswagen says it is looking to produce car batteries with QuantumScape's technology in 2025. The recycling plant could source raw materials to the solid-state cell plant in a much easier way. The new research and manufacturing site is dramatically larger than QuantumScape's current headquarters at 1730 Technology Drive in San Jose. In concrete terms, the latter should be possible in San Jos from 2023. Mr. Singh is QuantumScapes Chief Executive Officer and Chairman of the Board of Directors. The factory will make early production versions of the company's advanced electric. Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. The solid-state battery specialist also plans to invest part of the proceeds in its joint venture with Volkswagen. 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. Its goal is not to be a manufacturing marvel but rather to supply engineering cells for prototypes. Qatar Investment Authority and Fidelity Management and Research Company are the most recent investors. Prior to joining QuantumScape, he was the Chief Administrative Officer at Infinera Corporation from April 2003 to March 2013. Salzgitter will be where the German carmaker will have its first 40 GWh gigafactory in Europe. The new campus comprises the current site of QS-0, QuantumScapes pre-pilot production line, and the adjacent three new buildings. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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. Berkeley and a M.S. Let's . This reminds me of the debate about silicon and gallium arsenide in the chip business. Prior to joining QuantumScape, he was a Research Associate at Stanford University from June 2008 to January 2011. Mr. McCarthy also currently serves on the board of QSV Operations LLC. On average, they predict the company's stock price to reach $13.86 in the next twelve months. The industry-facing website The companies plan to begin a joint pilot program by 2023. How Is That a Good Thing? SOURCES Quantumscape, Prologium Moneyball Medium Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. Delivery of these cells, referred to as A0 samples, was the company's key public milestone for the year, and achieving this goal represents an important step toward the commercialization of this technology. Moreover, QuantumScape's cells do not have an anode at the time of manufacturing; a lithium-metal anode is formed when the cells are charged. and free of charge. By Matt - Published on April 16, 2021. Prologium admits that they are currently more expensive than lithium-ion but hope to get to lithium-ion battery costs in 2023 with the 7GWh/year plant. Learn More. Tesla has already spent a few years, billions on acquisitions and R&D on the new batteries and factory technology revealed at battery day. [3][4] In 2012, QuantumScape began working with German automaker Volkswagen. from Vanderbilt University Law School. Mr. Hettrich holds a B.A. Buzz Pro review: Is it enough to become iconic, again? In the last quarter of 2020, QuantumScape briefly surpassed the valuation of Ford Motor Co. without having any commercial product and with zero revenue. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology. articles a month for anyone to read, even non-subscribers! in Business Administration from U.C. An expansion of capacity by more than double would thus lead to an output of more than 200,000 samples. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. VW ID. 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. BMW iX review: How efficient is the BMW eSUV in real life? If all goes as planned, it QuantumScape expects revenue to grow gradually from $39 million in 2025 . Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. QuantumScape said it has begun shipping "A0" samples of its battery cells to its automaker clients. Mr. Singh holds a B.S. {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed. in Management from Stanford Graduate School of Business. "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. Both cells start to work after lithium plating that happens between the ceramic separator and a metal foil - which QuantumScape names as "anode electrical contact - the first time they are. 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. insideevs.com,electrek.co,techcrunch.com,ir.quantumscape.com,sec.report. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. 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 future is solid. QuantumScape Announces Timing of Third Quarter 2022 Financial Results and Webcast. 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. As a. Apart from Volkswagen (VWAGY -0.29%), QuantumScape is collaborating with two other auto original equipment manufacturers (OEMs). 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. Home Energy Quantumscape Plans 1 Gigawatt Hour Battery Plant in 2024. 12/8/2022. Were on a mission to revolutionize energy storage and power a decarbonized future, and were starting with transportation. Many of these factors are outside QuantumScapes control and are difficult to predict. 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. Even if they execute flawlessly, they will have too little capacity to matter and the prices will be too high. These samples are nearly full-size prototypes that will allow the automakers to test and begin . If they keep improving like they have been so far, they will perhaps be at 30 USD/kWh in 2028. A123 Systems, a developer and manufacturer of advanced Nanophosphate lithium-ion batteries and systems, on September 13 announced the grand opening of the largest lithium-ion automotive battery production facility in North America, based on available data. 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 . According to an agreement between the two companies, the location for the planned pilot plant with VW is to be determined this year. 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. According to the Californian company, the cells tested were single-layer pouch cells with thick cathodes (>3mAh/cm2), which are analogous to the cathodes of conventional batteries. Please support local businesses. QuantumScape expects to produce cells for use in test cars in 2023 and start commercial production in 2024. In connection with the joint venture, there is also talk of a second pilot plant. 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. Quantumscape plans to go public with a SPAC deal before the end of the year. QuantumScape developed the industrys first anode-less cell design, which delivers high energy density while lowering material costs and simplifying manufacturing. Our innovative battery cell technology can store energy more efficiently and reliably than todays lithium-ion batteries. 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. 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. 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. A full-sized plant would also be built and start production in 2027. 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