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 . QuantumScape ($QS). [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. So wh/l is actually volume, like a litre of water (10cm*10cm*10cm)? QuantumScape And VW Are Selecting Where To Make Solid-State Cells Salzgitter is so far the location with more chances to produce these batteries. The solid-state batteries that QuantumScape is researching could change the EV landscape considerably. Please contact the developer of this form processor to improve this message. QuantumScape is on a mission to transform energy storage with solid-state lithium-metal battery technology. You are buying everything these startups are telling you. Written By Brian Wang, Nextbigfuture.com (Brian owns shares of Tesla). [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. The company has worked for more than 10 years to develop this separator material. 10/26/2022. from Vanderbilt University Law School. This reminds me of the debate about silicon and gallium arsenide in the chip business. QuantumScape Announces Timing of Third Quarter 2022 Financial Results and Webcast. My guess is that the ratio between lithium ion and solid state lithium will be a similar story, i.e. Quantumscape plans to go public with a SPAC deal before the end of the year. Prior to joining QuantumScape, he was the founder and Chief Executive Officer at Infinera Corporation (NASDAQ: INFN), a telecommunications company, from 2001 to 2009. Mr. Hettrich is QuantumScapes Chief Financial Officer. Prior to this, Mr. Hettrich served as QuantumScapes Vice President of Business Operations from March 2016 to March 2018, as Senior Director of Finance and Product Management from March 2014 to March 2016, as a Director of Product Management from March 2013 to March 2014, and as a Manager of Product Management from January 2012 to March 2013. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for use in electric vehicles. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot . Solid-state batteries have long been known to have the potential for higher capacity than conventional li-ion batteries with liquid electrolytes. This is formed from pure lithium metal as soon as the battery is charged. In concrete terms, the latter should be possible in San Jos from 2023. 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. 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 made the plans for a pilot plant in San Jos public a few weeks ago when it announced its financial results. The 50 USD/kWh was Brians conjecture for 2024 price levels. Our The Motley Fool has a disclosure policy. 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The solid electrolyte allows us to use lithium-metal for the anode, which is the lightest metal on the planet and nearly 10 times more energy dense than whats used in todays batteries. 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. in Management from Stanford Graduate School of Business. The companies currently contemplate Salzgitter, Germany for the location. May 17, 2021 at 8:31am ET By: Gustavo Henrique. Anthony P. Plymouth Township, MI. Please contact the developer of this form processor to improve this message. For more information, please visit www.quantumscape.com. SOURCES Quantumscape, Prologium Moneyball Medium Additional information concerning these and other factors that could materially affect QuantumScapes actual results can be found in QuantumScapes periodic filings with the SEC. 7 analysts have issued 12 month price targets for QuantumScape's stock. 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. 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. It's expected to . For more information, please visit www.quantumscape.com. /a > QuantumScape - Resources - Press Business Outlook Data presented vehicles to outperform internal combustion cars located in Jos., QuantumScape, it reflects investors ' 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. The company is headquartered in San Jose, California and employs around 400 people. Making the world smarter, happier, and richer. About 200 mL if I recall correctly. Prologium plans to have 2 Gigawatt hour/year plant working by 2022 and a 7 GWh/year plant working in 2023. every workday since 2013. 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,. in Management from Stanford Graduate School of Business. Price as of January 18, 2023, 11:16 a.m. The company will take possession of the new buildings and begin outfitting the facilities for specific purposes starting in January 2022. in Mathematical Economics from Colgate University and a J.D. In the same year, Volkswagen and QuantumScape announced the establishment of a joint production project to prepare for mass production of solid state batteries. I think consumer electronics (like cell phones) developers worry more about Wh/L and electric car developers worry more about Wh/kg. Dr. Holme holds a B.S. They will start building a pilot factory in about one year and that factory will produce 1 gigawatt-hour of batteries per year. Please support local businesses. "Tesla dry cells and silicon anodes mean that solid-state batteries will not be able to beat advanced lithium-ion on energy density.". QuantumScape is on a mission to transform energy storage with solid-state lithium-metal battery technology. 10/12/2022. Do you want to help build one of the most critical parts of the future energy economy? Qatar Investment Authority and Fidelity Management and Research Company are the most recent investors. 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.. 59,9%. QuantumScape is a San Jose-based battery company founded 10 years ago by Jagdeep Singh, a computer scientist and co-founder of Infinera Corporation, a major telecom component supplier, and Tim Holme, a Stanford-educated mechanical engineer. Mr. Singh co-founded QuantumScape and has served as its Chief Executive Officer since QuantumScapes incorporation in May 2010. Prior to joining QuantumScape, Mr. Hettrich served as a Private Equity Associate of Bain Capital, an investment firm, from September 2007 to July 2009. 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. A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. In 2018, Volkswagen invested $100 million in the company, becoming the largest shareholder. 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 . The future is solid. If they keep improving like they have been so far, they will perhaps be at 30 USD/kWh in 2028. 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. 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. The new campus comprises the current site of QS-0, QuantumScape's pre-pilot production line, and the adjacent three new buildings. Even before the news, the stock has been on an upward trend since the middle of March. builds on the email briefing we publish 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. The solid-state battery specialist also plans to invest part of the proceeds in its joint venture with Volkswagen. [3][4] In 2012, QuantumScape began working with German automaker Volkswagen. 12/8/2022. Their stock opened with $23.50 in its Nov 27, 2020 IPO. But while the capacity is limited, it will provide cells for development work and help design next-gen manufacturing equipment: QS-0 will help provide the additional capacity we need for our development work and will enable usto accelerate work on the next-generation of manufacturing tools. Our innovative battery cell technology can store energy more efficiently and reliably than todays lithium-ion batteries. 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. 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