QuantumScape

Last updated

Quantum Scape
Company type Public
ISIN US74767V1098
Industry Electric batteries
FoundedMay 14, 2010;14 years ago (2010-05-14) 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) [1]
Number of employees
850 (2023) [2]
Website www.quantumscape.com OOjs UI icon edit-ltr-progressive.svg

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]

Contents

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]

In October 2024, QuantumScape introduced a prototype of their first planned commercial product they are calling QSE-5. The QSE-5 B-sample cell has a measured cell energy of 21.6 Watt-hours (Wh) at C/5 discharge rate and 25 °C. This is divided by the cell volume to get the volumetric energy density of 844 Wh/L or by the cell mass to get the gravimetric energy density (also called specific energy) of 301 Wh/kg. [12]

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]

Related Research Articles

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References

  1. ↑ "Battery Maker QuantumScape Names Chip Veteran as CEO". February 14, 2024 – via www.bloomberg.com.
  2. 1 2 "Q2 FISCAL 2021 LETTER TO SHAREHOLDERS" (PDF). QuantumScape. July 27, 2021. Archived from the original (PDF) on July 29, 2021. Retrieved July 30, 2021.
  3. 1 2 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 .
  5. ↑ Philipp K (September 4, 2020). "VW-Partner QuantumScape geht an die US-Börse" (in German).
  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.
  11. 1 2 Casey, Tina (July 12, 2024). "New QuantumScape Solid-State EV Battery Exposes EV Sales Flop Fakery, Again". CleanTechnica. Retrieved July 15, 2024.
  12. ↑ QuantumScape (October 23, 2024). "A First Look at the QSE-5 B Sample". QuantumScape. Retrieved December 17, 2024.
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