With the objective of commercialization of innovative solid- state battery technology, Germany based Volkswagen and U.S based QuantumScape partner with Volkswagen investing $100 million in QuantumScape. Volkswagen is also the largest automotive shareholder in QuantumScape and Volkswagen Group will take a seat in board of directors in QuantumScape.
According to Dr. Axel Heinrich, Head of VW Group Research, who will take a seat on the board of directors of QuantumScape:
“We want to accelerate the commercialization of QuantumScape’s solid-state batteries. And we combine forces to leverage Volkswagen’s experience as a production specialist and QuantumScape technology leadership. Volkswagen is thus taking another step toward a sustainable, zero emission mobility for our customers in the future.”
Subject to regulatory approval, Volkswagen has been collaborating with QuantumScape since 2012. The collaborative project is aiming to establish a production line for solid state batteries by 2025.
Jagdeep Singh, CEO of QuantumScape, also added the following about the new collaboration:
“Volkswagen is the world’s largest automotive manufacturer and leads the industry in its commitment to electrification of its fleet. We are thrilled to be chosen by Volkswagen to power this transition. We think the higher range, faster charge times, and inherent safety of QuantumScape’s solid-state technology will be a key enabler for the next generation of electrified powertrains.”
The collaboration aims to work for the future as Solid-state battery cell technology with is considered as the e-mobility of the future as the battery technology has further advantages over the present lithium-ion technology: higher energy density, enhanced safety, better fast charging capability and they take significantly less space. Volkswagen successfully tested for the first time in the industry an early- stage QuantumScape solid- state battery sample in Germany.
Axel Heinrich of Volkswagen Group added the following about the new investment:
“The solid-state battery will mark a turning point for e-mobility. By increasing our stake in QuantumScape and forming the joint venture we strengthen and deepen our strategic cooperation with an innovative partner and secure access to the promising QuantumScape battery technology for Volkswagen.”
Headquartered in the U.S, QuantumScape is a solid- state battery technology company. It holds 200 patents and patent applications for solid- state battery technology and is a pioneer in the development of solid- state battery. QuantumScape new technology lithium batteries are capable of disrupting the energy storage sector .
About VW Group
Established in 1937, VW Group is probably the largest automobile company that manufactures and sells automobiles primarily in Europe, North America, South America, and the Asia-Pacific together with its subsidiaries. Headquartered in Wolfsburg, Germany, VW Company operates through four segments: Passenger Cars, Commercial Vehicles, Power Engineering, and Financial Services. VW group employs around 642292 employees worldwide.