Click it and Unblock the Notifications
PowerCo Joins Forces With QuantumScape To Mass-Manufacture Solid-State Batteries
Volkswagen Group’s battery company PowerCo and QuantumScape have announced a significant agreement to advance QuantumScape’s solid-state lithium-metal battery technology. This partnership aims to industrialise the technology for mass production, focusing on passenger electric vehicles. The new agreement replaces an earlier joint venture between Volkswagen Group and QuantumScape.
QuantumScape will grant PowerCo a license to produce battery cells based on its technology platform, contingent on satisfactory technical progress and certain royalty payments. Under this non-exclusive license, PowerCo can manufacture up to 40 gigawatt-hours (GWh) annually, with an option to expand to 80 GWh per year. This capacity is sufficient to equip approximately one million vehicles each year.
The collaboration leverages QuantumScape’s advanced technology and PowerCo’s global manufacturing capabilities. A dedicated team of experts from both companies will work together to accelerate the industrialisation process. This high-touch engagement is seen as the fastest way to achieve large-scale production of solid-state batteries, meeting the growing global demand for better electric vehicle batteries.
QuantumScape’s technology features a proprietary solid-state ceramic separator that allows the use of a pure lithium-metal anode. This innovation promises exceptional energy and power density, fast charging, and enhanced safety. The companies aim to integrate this technology into a Volkswagen Group vehicle series.
Frank Blome, CEO of PowerCo, stated, "We aim to bring the most sustainable and cutting-edge battery cells to our customers." He added that they have been collaborating and testing QuantumScape prototype cells for years and are eager to bring this future technology into series production.
Strategic Importance
Thomas Schmall, Volkswagen Group Board Member for Technology, emphasised the strategic importance of this agreement: "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."
Dr. Siva Sivaram, CEO and president of QuantumScape, highlighted the significance of this partnership in their long-term strategy: "Combining our cutting-edge technology with PowerCo’s expertise in manufacturing and industrialisation establishes a blueprint for a capital-light business approach."
Leadership Changes
To lead PowerCo in this next phase of collaboration with QuantumScape, Frank Blome stepped down from QuantumScape’s board of directors. Blome had served on the board since 2020 as one of two members designated by Volkswagen Group, which remains QuantumScape’s largest shareholder. His successor will be announced soon.
Jagdeep Singh, co-founder and chairman of QuantumScape’s board of directors, praised Blome's contributions: "Frank Blome has been an exceptional partner for QuantumScape for many years." Singh noted that Blome would continue as an active partner in their collaborative efforts.
Company Profiles
The Volkswagen Group is one of the world’s leading car manufacturers with headquarters in Wolfsburg, Germany. It operates globally with 114 production facilities across Europe, the Americas, Asia, and Africa. In 2023, it delivered 9.2 million vehicles worldwide.
PowerCo was founded by Volkswagen Group in 2022 and focuses on developing and producing battery cells. Headquartered in Salzgitter, Germany, it is building three cell factories with a total volume capacity of up to 200 GWh per year.
QuantumScape aims to revolutionise energy storage with its next-generation solid-state lithium-metal battery technology. This technology supports greater energy density, faster charging times, and enhanced safety features.
This collaboration marks a significant step toward advancing electric vehicle battery technology on a global scale while ensuring sustainability and efficiency in production processes.
Continue with Google