QuantumScape: Agreement Signed With Volkswagen to Select Location for JV Pilot-Line Facility
By Michael Dabaie
QuantumScape Corp. said Friday it signed an agreement with
Volkswagen Group of America Inc. to select the location of their
joint-venture solid-state battery pilot-line facility by the end of
QuantumScape, which is developing lithium-metal batteries for
use in electric vehicles, said the companies currently contemplate
Salzgitter, Germany, for the location.
The pilot-line facility, QS-1, will initially be a 1-gigawatt
hour battery cell commercial production plant for electric vehicle
batteries. QuantumScape and Volkswagen plan to expand production
capacity by a further 20 GWh at the same location, the company
In late March, QuantumScape announced an additional $100 million
in funding from Volkswagen after Volkswagen confirmed through tests
at its labs in Germany that QuantumScape cells met the established
QuantumScape shares were up 5%, to $27.80, premarket.
Write to Michael Dabaie at email@example.com
(END) Dow Jones Newswires
May 14, 2021 09:17 ET (13:17 GMT)
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