PowerCo and QuantumScape Forge Deal to Mass-Produce Revolutionary Batteries
PowerCo, a Volkswagen Group battery company, and QuantumScape unveiled a landmark deal to scale up QuantumScape's revolutionary solid-state lithium-metal battery technology. QuantumScape will license PowerCo to mass-produce battery cells using its platform, which will be contingent upon successful technical advancements and certain royalty payments.
Under the non-exclusive agreement, PowerCo will be allowed to produce up to 40 gigawatt-hours (GWh) of batteries annually, with an option to double this capacity to 80 GWh. This production could supply batteries for about one million vehicles each year. The collaboration is set to expedite the move towards large-scale production of solid-state batteries, aiming to cater to the increasing demand for superior electric vehicle batteries worldwide. This new agreement replaces a previous joint venture aimed at co-manufacturing batteries.
This strategic partnership combines QuantumScape's innovative technology with PowerCo's extensive industrial and manufacturing capabilities. A robust scale-up team comprising specialists from both companies will focus on advancing QuantumScape's technology's industrialisation.
QuantumScape's technology uses a proprietary solid-state ceramic separator, enabling a pure lithium-metal anode. This innovation offers outstanding energy and power density, rapid charging capabilities, and enhanced safety. The goal is to scale this product for incorporation into the Volkswagen Group vehicle series.
Frank Blome, CEO of PowerCo, stated, “With this cooperation, we are committed to delivering the most advanced and sustainable battery cells to our customers. We have extensively tested QuantumScape's prototype cells and are eager to transition this future technology to mass production.”
Thomas Schmall, Volkswagen Group Board Member for Technology, added, “This partnership will ensure our global fleet is equipped with this cutting-edge battery technology, reinforcing our commitment to leading the electric vehicle sector in excellence and sustainability.”
Dr Siva Sivaram, CEO and president of QuantumScape, emphasized, “This deal is pivotal in our global strategy to market our solid-state battery technology. By leveraging PowerCo’s manufacturing expertise, we establish a capital-efficient model and position ourselves at the forefront of energy storage innovation.”
In alignment with this partnership, Frank Blome has resigned from QuantumScape’s board of directors, a role he has held since 2020. His departure is to facilitate the next phase of collaboration as PowerCo leads the industrial-scale production. Jagdeep Singh, co-founder and chairman of QuantumScape, praised Blome’s longstanding contribution and confirmed his ongoing involvement in scaling QuantumScape’s technology.
