QuantumScapewhich is creating solid-state lithium battery expertise, is increasing its strategic collaboration and licensing association with Volkswagen subsidiary PowerCo.
The businesses initially partnered in July 2024. The up to date settlement is designed to speed up QuantumScape’s QSE-5 battery growth pilot line in San Jose, a step ahead within the industrialization of its solid-state battery expertise.
Underneath the phrases of the settlement, PowerCo will present as much as $131 million in new funds over the following two years upon the joint scale-up workforce reaching sure milestones. The primary milestones have been achieved, and QuantumScape expects to start receiving funds later this yr. That is along with the beforehand introduced $130 million that will probably be as a consequence of QuantumScape upon passable technical progress and execution of the licensing settlement.
The settlement allows PowerCo to interact earlier in QSE-5 manufacturing and automation efforts, advancing the ramp-up of the pilot line. That is important for scaling manufacturing and executing the expertise switch required to convey QSE-5 to international markets, whereas additionally enabling higher-volume prototype cell deliveries to PowerCo.
The enlargement will enable PowerCo the proper underneath the licensing settlement to provide as much as an extra 5 GWh of QSE-5-based cells yearly, together with for purchasers exterior the Volkswagen Group, and the proper to license sure future QuantumScape expertise.
“This expanded settlement is a transparent sign of the rising strategic, technical and monetary alignment between the 2 corporations,” stated Dr. Siva Sivaram, CEO and President of QS. “It displays our shared confidence in QSE-5 as a game-changing platform for the battery business.”
Supply: QuantumScape
