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. If things go as per QuantumScape's plans, the company will have a huge market for its cells. The key to our technology is a patented solid ceramic electrolyte separator, the material that keeps the anode and cathode from touching and moves lithium ions from one side of the battery to the other during charge and discharge. With reporting by Cora Werwitzke, France. QuantumScape, so far, has collaborations with four key customers -- three automotive and one stationary energy-storage product manufacturer. In addition, the solid-state battery does not have a classic anode. in Computer Science from Stanford University. QuantumScape has a post-money valuation in the range of $1B to $10B as of Jun 17, 2020 . However, the industry has several challenges to overcome in order to make solid-state viable, and QuantumScape claims to have solved them all. For more information, please visit www.quantumscape.com. 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. Even though the server responded OK, it is possible the submission was not processed. Considering QS-1 will apparently be just in the same city but not the same plant, were more inclined to the second hypothesis. As a result of the merger, QuantumScape will receive $1 billion in financing, including funding from Volkswagen and the Qatar Investment Authority. Chart reflects 100% of factory financials. 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. Would highly recommend coming here. All we have mostly in Canton are corporate chain restaurants. It is not clear if Volkwagen included that production capacity in Salzgitters total of 40 GWh or if it will be in addition to the 40 GWh capacity it will already have. The published results with single-layer pouch cells suggest that QuantumScapes battery can be quickly charged to 80 per cent capacity in 15 minutes. The company believes that its solid-state batteries will be far more energy-dense than the lithium-ion batteries in use right now. Ms. Fong holds a B.S. 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. Note, 50 USD/kWh assumes that Tesla will not improve at all between 2022 and 2028.. 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. These are the key requirements to make a lithium-metal anode, which in turn enables high energy density, fast charge, and long life. The new plant in Livonia, Mich. is expected to expand A123's manufacturing capabilities . [7], On April 15, 2021, hedge fund Scorpion Capital announced their short position in the stock, accusing the company of being a pump-and-dump scheme. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. 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. As a. 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, which had risen to buzzy prominence after Volkswagen Group invested more than $500 million, struck a deal in September 2020 to merge with a special purpose acquisition company,. Company. The Motley Fool has no position in any of the stocks mentioned. The factory will make early production versions of the company's advanced electric. Bloomberg Markets European Close. The departure of its top manufacturing expert is bad news for the battery startup backed by Volkswagen. Prologium plans to have 2 Gigawatt hour/year plant working by 2022 and a 7 GWh/year plant working in 2023. 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.. Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. This will not happen. 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. The company is on a mission to revolutionize energy storage to enable a sustainable future. Apart from Volkswagen (VWAGY -0.29%), QuantumScape is collaborating with two other auto original equipment manufacturers (OEMs). 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. If all goes as planned, it QuantumScape expects revenue to grow gradually from $39 million in 2025 . The joint venture between QuantumScape and Volkswagen will be called QS-1. QuantumScape was founded in 2010 by Jagdeep Singh, Tim Holme and Professor Fritz Prinz of Stanford University. 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. How Is That a Good Thing? The new research and manufacturing site is dramatically larger than QuantumScape's current headquarters at 1730 Technology Drive in San Jose. QuantumScape could produce solid-state batteries in the German city of Salzgitter with Volkswagen in the future. By Matt - Published on April 16, 2021. 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. The Wolfsburg company will then have the right to become the first customer for the new batteries based on solid-state technology. 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. Anthony P. Plymouth Township, MI. 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. in Mathematical Economics from Colgate University and a J.D. in Management from Stanford Graduate School of Business. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. 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. Through Zalkon.com, you can check out Freds portfolio and get monthly green stock investment ideas. 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.. While QuantumScape remained silent about its technology for a long time, the company presented performance data of prototype cells for the first time in December 2020. and free of charge. Battery startup QuantumScape dropped some news last week that we reporterslike to call a Friday night news dump. 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. Expansion to three new facilities to scale advanced manufacturing capabilities. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. [2] History [ edit] The Tesla and Panasonic veteran was a key hire when she joined QuantumScape to help bring battery innovations from the lab to the factory floor. Tesla has made its new batteries into a structural slab on the base of the car. As Jagdeep Singh told Sandy Munro, Volkswagen is pretty aware that the deal with QuantumScape is not exclusive. Tried the pastor, carnitas and steak tacos. Learn More{{/message}}, {{#message}}{{{message}}}{{/message}}{{^message}}It appears your submission was successful. About 200 mL if I recall correctly. in Environment and Resources from Stanford University. Quantumscape plans to go public with a SPAC deal before the end of the year. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels. 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. Fred is the Editor in Chief and Main Writer at Electrek. 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. 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. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. To fulfill the strong inbound interest in its technology, the company also recently announced it was doubling the initial QS-0 capacity to over 200,000 cells annually, enough for hundreds of test vehicles each year. /a > QuantumScape - Resources - Press Business Outlook Data presented vehicles to outperform internal combustion cars located in Jos., QuantumScape, it reflects investors ' 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. Invest better with The Motley Fool. Get upfront price offers on local inventory. insideevs.com,electrek.co,techcrunch.com,ir.quantumscape.com,sec.report. Making the world smarter, happier, and richer. Many of these factors are outside QuantumScapes control and are difficult to predict. QuantumScape Announces Timing of Third Quarter 2022 Financial Results and Webcast. https://www.electrive.com/2021/03/25/quantumscape-to-open-second-pilot-plant/. 12/8/2022. Mr. Singh co-founded QuantumScape and has served as its Chief Executive Officer since QuantumScapes incorporation in May 2010. [9][10] The battery was claimed to offer an energy density of 1kWh/L or 380-500 Wh/kg. A full-sized plant would also be built and start production in 2027. They would then expand the plant for 20 GWh/year plant. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. The solid-state batteries that QuantumScape is researching could change the EV landscape considerably. Buzz Pro review: Is it enough to become iconic, again? 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. Also, silicon anodes, by definition cannot produce a denser battery than a solid state battery that uses NO anodes at all. QuantumScape Corp. ( QS) stock's 93% plunge makes it a vulnerable acquisition target if shares fail to recover soon. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. workday short, to the point, 5 min read. 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