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Kensington Capital Acquisition Corp.

Merger paves way for solid-state lithium-metal battery production

Wed, 09/09/2020 - 10:08 -- paul Crompton

Battery developer QuantumScape Corporation is set to start production of its solid-state lithium-metal batteries via its joint venture with the Volkswagen Group following a billion dollar merger with Kensington Capital Acquisition Corp.

The California, US, based firm is expected to receive more than $1 billion in cash and funding commitments, led by Volkswagen and Qatar’s sovereign wealth fund, as part of the transaction.

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