QuantumScape Corporation (QuantumScape) develops next-generation solid-state lithium-metal battery technology for electric vehicles (‘EVs’) and other applications.
The company is at the beginning of a forecasted once-in-a-century shift in automotive powertrains, from internal combustion engines (‘ICE’) to clean EVs.
QuantumScape’s solid-state lithium-metal battery technology is designed to offer greater energy density, faster charging, and enhanced safety when compared to today’s conventional...
QuantumScape Corporation (QuantumScape) develops next-generation solid-state lithium-metal battery technology for electric vehicles (‘EVs’) and other applications.
The company is at the beginning of a forecasted once-in-a-century shift in automotive powertrains, from internal combustion engines (‘ICE’) to clean EVs.
QuantumScape’s solid-state lithium-metal battery technology is designed to offer greater energy density, faster charging, and enhanced safety when compared to today’s conventional lithium-ion batteries.
Since 2012, the company has developed a strong partnership with Volkswagen Group of America Investments, LLC (‘VGA’) and certain of its affiliates (together with VGA, ‘Volkswagen’). Volkswagen is one of the largest car companies in the world and intends to be a leader in EVs. Over the course of the company’s relationship, Volkswagen has successfully tested multiple generations of certain of its single-layer and multilayer prototype cells at automotive rates of power. In July 2024, the company entered into a Collaboration Agreement (the ‘PowerCo Collaboration Agreement’) with PowerCo SE (‘PowerCo’), a battery cell company wholly owned by Volkswagen.
While the company signed an agreement with PowerCo with the goal of commercializing its battery technology, it intends to continue working closely with automotive Original Equipment Manufacturers (‘OEMs’) to make its solid-state battery cells widely available over time. In addition, the company has signed customer sampling agreements with a number of OEMs, ranging from leading manufacturers by global revenue to premium performance and luxury carmakers, to collaborate with it in the testing and validating of its solid-state battery cells, with the goal to include such cells into pre-production prototype vehicles and ultimately into serial production vehicles. The company is currently focused on automotive EV applications, which have among the most stringent sets of requirements for batteries. However, it recognizes that its solid-state battery technology has applicability in other large and growing markets, such as stationary storage and consumer electronics, and intends to explore opportunities in those areas as appropriate.
The company is focusing on a technology licensing business model. In addition to the collaboration with PowerCo, which contemplates a licensing arrangement, it may operate solely-owned manufacturing facilities, license technology to other manufacturers, or enter into joint venture arrangements, among other approaches. The company intends to continue to invest in research and development to improve battery cell performance, improve manufacturing processes, and reduce costs.
Growth Strategy
The company’s strategies are to continue to develop its commercial battery technology and manufacturing capabilities; expand relationships with other automotive OEMs; expand target markets; and expand commercialization models.
Partnerships
Volkswagen Collaboration
QuantumScape has had a strong collaborative relationship with Volkswagen since 2012. The company’s collaboration initially focused on the testing and evaluation of its battery technology, with Volkswagen engineers working closely with its engineering team on its technology development efforts and battery testing.
PowerCo Collaboration and Joint Venture Termination
QSV Operations LLC (‘QSV’) was incorporated as a limited liability company in 2018. VWGoA, VGA, and QuantumScape executed the JVA, effective September 2018, with the goal of jointly establishing a manufacturing facility to produce the pilot line of the company’s product through QSV.
On July 5, 2024, the company entered into the PowerCo Collaboration Agreement with the goal of industrializing the solid-state lithium-metal battery technology it intends to use in its first planned product—the QSE-5 Technology. PowerCo was formed by Volkswagen in 2022 as a company intended to consolidate Volkswagen’s activities in the development and production of battery cells.
Intellectual Property
As of December 31, 2024, the company owned, or licensed on an exclusive basis, more than 160 issued U.S. patents and patent applications, and more than 190 granted foreign patents and patent applications. Patents issued to the company start expiring in 2033.
History
QuantumScape Corporation, a Delaware corporation, was founded in 2010.