FAQ: QuantumScape and PowerCo's Expanded Collaboration on Solid-State Battery Technology

What is the main purpose of the expanded collaboration between QuantumScape and PowerCo?

The expanded collaboration aims to accelerate the development of the QSE-5 battery pilot line in San Jose, facilitating the industrialization of solid-state battery technology and enabling higher-volume prototype cell deliveries to PowerCo.

Why is this collaboration significant?

This collaboration is significant because it represents a major advancement in solid-state battery technology, offering greater energy density, faster charging, and enhanced safety, which are crucial for transitioning to lower carbon energy sources.

How will PowerCo contribute to the QSE-5 battery development?

PowerCo will provide up to $131 million in new payments over the next two years upon achieving certain milestones, in addition to the previously announced $130 million, to support the scale-up and automation efforts of the QSE-5 battery development.

Who is involved in this collaboration?

QuantumScape Corporation, a leader in solid-state lithium-metal battery technology, and PowerCo SE, the battery company of the Volkswagen Group, are the key parties involved in this expanded collaboration.

When will QuantumScape begin receiving payments from PowerCo?

QuantumScape expects to begin receiving payments in 2025, following the achievement of the first milestones under the expanded collaboration agreement.

Where is the QSE-5 battery development pilot line located?

The QSE-5 battery development pilot line is located in San Jose, as part of the efforts to scale manufacturing and execute the technology transfer required for global market introduction.

What are the implications of this collaboration for the battery industry?

This collaboration signifies a strategic, technical, and financial alignment between QuantumScape and PowerCo, aiming to revolutionize the battery industry with the QSE-5 platform, which promises greater energy density, faster charging, and enhanced safety.

How does the QSE-5 battery technology compare to alternatives?

The QSE-5 solid-state lithium-metal battery technology is designed to offer greater energy density, faster charging, and enhanced safety compared to legacy energy sources, supporting the transition towards a lower carbon future.

What should people know about QuantumScape’s mission?

QuantumScape is committed to revolutionizing energy storage with its next-generation solid-state lithium-metal battery technology to enable a sustainable future, focusing on greater energy density, faster charging, and enhanced safety.

Who can be contacted for more information about QuantumScape?

For more information about QuantumScape and its technologies, visit their official website at www.quantumscape.com.