QuantumScape

QuantumScape Corporation
Company type	Public
Traded as	NYSE: QS (Class A); Russell 1000 component;
ISIN	US74767V1098
Industry	Electric batteries
Founded	May 14, 2010; 14 years ago at Stanford University
Founders	Jagdeep Singh; Tim Holme; Fritz Prinz;
Headquarters	San Jose, California, U.S.
Key people	Jagdeep Singh (Chairman), Dr. Siva Sivaram (CEO)
Number of employees	850 (2023)
Website	www.quantumscape.com

QuantumScape is an American company that develops solid-state rechargeable lithium metal batteries for electric cars. The company is headquartered in San Jose, California and employs around 850 people.^[2] Investors include Bill Gates and Volkswagen.^[3]

History

QuantumScape was founded in 2010 by Jagdeep Singh, Tim Holme and Professor Fritz Prinz of Stanford University.^[4] In 2012, QuantumScape began working with German automaker Volkswagen.

In 2018, Volkswagen invested $100 million in the company, becoming the largest shareholder. In the same year, Volkswagen and QuantumScape announced the establishment of a joint production project to prepare for mass production of solid-state batteries.^[3] In June 2020, Volkswagen invested an additional $200 million.^[5]

In 2020, QuantumScape merged with the special-purpose acquisition company Kensington Capital Acquisition. As a result of the merger, QuantumScape received $1 billion in financing, from investors including Volkswagen and the Qatar Investment Authority.^[3] At the same time, the company's shares listed on the New York Stock Exchange under the symbol QS.^[6] In the last quarter of 2020, QuantumScape briefly surpassed the valuation of Ford Motor Co. without a commercial product and without revenue.^[7]

On April 15, 2021, hedge fund Scorpion Capital announced their short position in the stock, labeling the company a pump-and-dump scheme.^[8]

On June 26, 2022, the company announced the production of a solid-state battery with a range of 650 km and a charge time of 15 minutes.^[9]

At the beginning of 2024, Volkswagen and QuantumScape presented a battery prototype in a press release based on the technologies developed by QuantumScape, which has 1000 charging cycles with only 5% capacity loss and an energy density that is at least a third higher.^[10] In July 2024, VW PowerCo and QS announced an agreement for volume production. The initial goal is 40 gigawatt-hours’ worth of batteries per year.^[11]

Technology

The battery uses a lithium metal anode. The solid-state ceramic separator prevents dendrites and does not react with lithium. An organic liquid electrolyte then envelops the cathode.^[11]

References

^ "Battery Maker QuantumScape Names Chip Veteran as CEO". February 14, 2024 – via www.bloomberg.com.
^ ^a ^b "Q2 FISCAL 2021 LETTER TO SHAREHOLDERS" (PDF). QuantumScape. July 27, 2021. Retrieved July 30, 2021.
^ ^a ^b ^c Wayland, Michael (September 3, 2020). "Bill Gates-backed vehicle battery supplier to go public through SPAC deal". CNBC. Retrieved September 9, 2020.
^ "QuantumScape Corp". Bloomberg News.
^ Philipp K (September 4, 2020). "VW-Partner QuantumScape geht an die US-Börse" (in German).
^ Ambrogio Visconti (September 7, 2020). "QuantumScape's Merger With Kensington Capital Acquisition Corp – Global Legal Chronicle".
^ Akshat Rathi (April 14, 2021). "QuantumScape says its technology is ready to move from the lab to VW's dealerships. But this secretive startup is very familiar with failure". Bloomberg L.P. Retrieved August 1, 2021.
^ Lenihan, Rob (April 15, 2021). "QuantumScape Falls on Scorpion Capital Short Report". TheStreet. Retrieved April 15, 2021.
^ Eric Tegler (June 21, 2022). "A Revolutionary Solid-State Battery Is Nearly Here, Scientists Say". Retrieved July 1, 2022.
^ "Feststoffzelle von Quantumscape besteht laut VW Härtetest". www.golem.de. Retrieved February 17, 2024.
^ ^a ^b Casey, Tina (July 12, 2024). "New QuantumScape Solid-State EV Battery Exposes EV Sales Flop Fakery, Again". CleanTechnica. Retrieved July 15, 2024.

External links

Official website

[1] "Battery Maker QuantumScape Names Chip Veteran as CEO". February 14, 2024 – via www.bloomberg.com.

[2021q2-2] "Q2 FISCAL 2021 LETTER TO SHAREHOLDERS" (PDF). QuantumScape. July 27, 2021. Retrieved July 30, 2021.

[:0-3] Wayland, Michael (September 3, 2020). "Bill Gates-backed vehicle battery supplier to go public through SPAC deal". CNBC. Retrieved September 9, 2020.

[4] "QuantumScape Corp". Bloomberg News.

[:1-5] Philipp K (September 4, 2020). "VW-Partner QuantumScape geht an die US-Börse" (in German).

[:02-6] Ambrogio Visconti (September 7, 2020). "QuantumScape's Merger With Kensington Capital Acquisition Corp – Global Legal Chronicle".

[7] Akshat Rathi (April 14, 2021). "QuantumScape says its technology is ready to move from the lab to VW's dealerships. But this secretive startup is very familiar with failure". Bloomberg L.P. Retrieved August 1, 2021.

[8] Lenihan, Rob (April 15, 2021). "QuantumScape Falls on Scorpion Capital Short Report". TheStreet. Retrieved April 15, 2021.

[9] Eric Tegler (June 21, 2022). "A Revolutionary Solid-State Battery Is Nearly Here, Scientists Say". Retrieved July 1, 2022.

[10] "Feststoffzelle von Quantumscape besteht laut VW Härtetest". www.golem.de. Retrieved February 17, 2024.

[:2-11] Casey, Tina (July 12, 2024). "New QuantumScape Solid-State EV Battery Exposes EV Sales Flop Fakery, Again". CleanTechnica. Retrieved July 15, 2024.

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