VW raises e-mobility stakes
Volkswagen Group has paved the way for the next level of battery power for long-range e-mobility by increasing its stake in the California technology company QuantumScape Corporation and forming a new joint venture.
Dr Axel Heinrich, head of VW Group research, who will take a seat on the board of directors of QuantumScape, said, ‘We want to accelerate the commercialisation of QuantumScape’s solid-state batteries. And we combine forces to leverage Volkswagen’s experience as a production specialist and QuantumScape technology leadership. Volkswagen is thus taking another step toward a sustainable, zero emission mobility for our customers in the future.’
Volkswagen will invest US$100m in US-based QuantumScape and will become the innovative enterprise’s largest automotive shareholder. Closing of the transaction is subject to regulatory approval.
Since 2012, Volkswagen Group Research has already been collaborating closely with the Stanford spin-off. Based on the significant technical progress that this cooperation has made, QuantumScape and Volkswagen will work together within a newly formed joint venture with the aim to enable an industrial level of production of solid-state batteries. One of the long-term targets is to establish a production line for solid-state batteries by 2025.
Founded in 2010, QuantumScape is headquartered in San José, California and holds approximately 200 patents and patent applications for solid-state battery technology. Solid-state battery cell technology is seen as the most promising approach for the e-mobility of the future. For example, a solid-state battery would increase the range of the E-Golf to approximately 750km compared with the present 300km.