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PowerCo and QuantumScape have announced a landmark agreement to industrialize QuantumScape’s solid-state lithium-metal battery technology. This collaboration aims to revolutionize mass manufacturing for passenger electric vehicles. The agreement builds on a previous joint venture between Volkswagen Group and QuantumScape, focusing on co-manufacturing advanced batteries.
Key Highlights:
- PowerCo to license QuantumScape’s technology for mass production of battery cells.
- Manufacturing capacity of up to 40 GWh per year, expandable to 80 GWh.
- Enough to power approximately one million vehicles annually.
- Combined workforce initiative to accelerate industrialization.
- Focus on sustainable and cutting-edge battery cells.
- Volkswagen Group’s ongoing commitment to innovation in electric vehicles.
Under the non-exclusive license, PowerCo can manufacture up to 40 gigawatt-hours (GWh) per year using QuantumScape’s technology, with the option to expand up to 80 GWh annually. This capacity is sufficient to outfit approximately one million vehicles per year. Both companies believe this collaboration represents the fastest way to achieve gigawatt-hour-scale production of solid-state technology to meet the growing global demand for superior electric vehicle batteries. The agreement supersedes an earlier joint venture between the Volkswagen Group and QuantumScape to co-manufacture batteries.
The partnership leverages QuantumScape’s cutting-edge technology and PowerCo’s global capabilities in industrialization and manufacturing. A combined workforce initiative will feature a large, dedicated scale-up team of experts from both companies to accelerate the industrialization of QuantumScape’s technology.
QuantumScape’s technology platform is based on the company’s proprietary solid-state ceramic separator, which enables the use of a pure lithium-metal anode. This transformative innovation offers exceptional energy and power density, fast charging, and a robust safety profile. The companies will target a product that will be scaled-up for integration in a Volkswagen Group vehicle series.
“With this cooperation, we aim to bring the most sustainable and cutting-edge battery cells to our customers,” said Frank Blome, CEO of PowerCo. “We have been collaborating and testing QuantumScape prototype cells for years now and we are looking forward to bringing this technology of the future into series production. QuantumScape’s technology is poised to enter a pivotal stage where PowerCo’s specialized expertise, resources, and global factories can help facilitate the transition to industrial-scale production.”
“Electric vehicles are the future of mobility, and this agreement with QuantumScape will ensure the Volkswagen Group’s global fleet has access to this groundbreaking battery technology for years to come,” said Thomas Schmall, Volkswagen Group Board Member for Technology. “We are committed to driving the industry forward to ensure that our electric vehicles set the benchmark for excellence and sustainability.”
“This agreement is a major step in our long-term global scale-up strategy to bring QuantumScape’s solid-state lithium-metal battery technology to market,” said Dr. Siva Sivaram, CEO and president of QuantumScape. “Combining our cutting-edge technology with PowerCo’s expertise in manufacturing and industrialization, this deal establishes a blueprint for a capital-light business approach and positions us at the forefront of energy storage innovation. Working closely with PowerCo as our first customer will help us accelerate commercialization and adoption of these game-changing batteries together.”
To lead PowerCo in this next important phase of collaboration with QuantumScape, Frank Blome stepped off QuantumScape’s board of directors. Blome had served on the board since 2020 as one of the two board members designated by the Volkswagen Group, which continues to be QuantumScape’s largest shareholder. His successor on the QuantumScape board will be announced in the coming months.
“Frank Blome has been an exceptional partner for QuantumScape for many years,” said Jagdeep Singh, co-founder and chairman of QuantumScape’s board of directors. “He has provided invaluable contributions to QuantumScape’s product portfolio strategy and key decisions about industrialization. As we move forward, Frank will continue to be an active partner in this relationship as an anchor manufacturer of our innovative battery technology, ensuring strength and continuity in our collaborative efforts.”
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