QuantumScape
| Company type | Public |
|---|---|
| Industry | Battery technology, Electric vehicle batteries |
| Founded | 2010 |
| Founder | Jagdeep Singh, Tim Holme, Fritz Prinz |
| Headquarters | San Jose , United States |
Area served | Global |
Key people | Jagdeep Singh (CEO) |
| Products | Solid-state lithium metal rechargeable batteries |
Number of employees | 850 |
| Website | quantumscape |
QuantumScape is a U.S.-based enterprise focused on creating solid-state lithium metal rechargeable batteries intended for electric vehicles. The company is headquartered in San Jose, California and has a workforce of around 850 employees. Prominent backers include Bill Gates and Volkswagen.
History
Established in 2010 by Jagdeep Singh, Tim Holme, and Stanford University’s Professor Fritz Prinz, QuantumScape initiated a partnership with Volkswagen in 2012. Volkswagen emerged as the principal shareholder in 2018 after contributing $100 million and launched a collaborative production effort for solid-state batteries. This was followed by an additional investment of $200 million in 2020.
In 2020, QuantumScape completed a merger with the special-purpose acquisition firm Kensington Capital Acquisition, securing $1 billion in capital from investors such as Volkswagen and the Qatar Investment Authority. The company’s stock began trading on the New York Stock Exchange under the ticker QS. By the end of 2020, QuantumScape briefly exceeded the market valuation of Ford Motor Co., despite not having commercial products or generating revenue.
In April 2021, hedge fund Scorpion Capital took a short position, accusing the company of operating a pump-and-dump scheme.
By June 2022, QuantumScape revealed a solid-state battery capable of covering 650 km on a single charge with a charging duration of just 15 minutes. Early in 2024, a prototype battery was introduced that could endure 1,000 charge cycles with only a 5% reduction in capacity and offered energy density at least 33% higher than rivals. In July 2024, VW PowerCo and QuantumScape reached an agreement to commence mass production aiming for an annual output of 40 gigawatt-hours.
In October 2024, QuantumScape presented the QSE-5 prototype commercial cell, which achieved a volumetric energy density of 844 Wh/L alongside a gravimetric energy density of 301 Wh/kg.
Technology
This battery incorporates a lithium metal anode combined with a solid-state ceramic separator designed to inhibit dendrite formation and prevent lithium reactions. An organic liquid electrolyte envelops the cathode, improving both performance and safety.