1. ENGLISH
  2. News
  3. 2018
  4. 09
  5. Volkswagen closes QuantumScape transaction

We use cookies to help you get the most out of our website and to improve our communication with you. We take your preferences into account and process data for analytics and personalization only if you give us your consent by clicking on "Agree and continue". You can withdraw your consent at any time with effect for the future. You can find further information on cookies and customization options by clicking on the "Show details" button. 

Show details Agree and continue

News

Volkswagen closes QuantumScape transaction

  • Volkswagen Group closes QuantumScape transaction and invests 100 million USD in the US-based leading technology company for solid-state batteries
  • New joint venture with QuantumScape aims to enable an industrial level of production of solid-state batteries

The Volkswagen Group has concluded the planned increase in its stake in the California technology company QuantumScape. The Committee on Foreign Investment in the United States (CFIUS) had no objection to the transaction. Volkswagen is investing 100 million USD in the battery specialist, thus becoming its largest automotive shareholder. Volkswagen will now take a seat on the board of directors of QuantumScape. Furthermore, Volkswagen and QuantumScape have formed a joint venture to enable an industrial level of production of solid-state batteries.

Volkswagen and QuantumScape are combining their strengths in the new joint venture: Volkswagen is contributing its production expertise and know-how in scaling projects, while QuantumScape brings its technology leadership in the field of solid-state batteries to the joint venture. The shared goal is to enable an industrial level of production of solid-state batteries. One target is to establish a production line for these batteries by 2025.

Solid-state battery cell technology is seen as the most promising approach for the next-but-one generation of e-mobility. This battery technology has several advantages over the present lithium-ion technology: higher energy density, enhanced safety, better fast charging capability and a much smaller space requirement.

The Volkswagen Group is substantially expanding its range of electric models and aims to offer an electric version of each of the present 300 models by 2030, so probing this battery technology is an important step. Volkswagen has already tested QuantumScape early-stage solid-state battery sample cells in Germany running at automotive rates of power.

Founded in 2010, QuantumScape is headquartered in San José, California and holds over 200 patents and patent applications for solid-state battery cell technology. Its deep expertise makes the company a leading pioneer in the development of this groundbreaking form of energy storage.

CFIUS (Committee on Foreign Investment in the United States) is an interagency committee authorized to review certain transactions involving foreign investment in the United States.

Important note

When you access this link, you leave the pages of Volkswagen AG. Volkswagen AG does not claim ownership of third-party websites accessible via links and is not responsible for their content. Volkswagen has no influence on the data that is collected, stored or processed on this site. You can find more detailed information on this in the data protection declaration of the provider of the external website.

Continue to page Cancel