Volkswagen is investing $100 million to increase its stake in US battery start-up Quantumscape and “accelerate” commercialisation of innovative solid-state battery technology.
VW said the deal, which is subject to regulatory approvals, will make it Quantumscape’s largest automotive shareholder and will give the car giant a seat on the board.
The companies will work together within a newly-formed joint venture “with the aim to enable an industrial level of production of solid-state batteries”, VW said.
One of the long-term targets is to establish a production line for solid-state batteries by 2025.
And VW revealed it has successfully tested Quantumscape “early-stage solid-state battery sample cells in Germany running at automotive rates of power— an industry first”.
Head of VW group research Dr Axel Heinrich said: “By increasing our stake and forming the joint venture we strengthen and deepen our strategic cooperation with an innovative partner and secure access to the promising Quantumscape battery technology for Volkswagen,” Heinrich said.
Quantumscape CEO Jagdeep Singh said: “We think the higher range, faster charge times and inherent safety of Quantumscape’s solid-state technology will be a key enabler for the next generation of electrified powertrains.”
California-based Quantumscape was founded in 2010 and is a Stanford University spin-off. The company licensed tech from the ARPA-E funded ‘All Electron Battery’ Stanford project, which was developing a solid-state battery as an alternative to liquid electrolyte-based lithium-ion.
VW’s research arm has been collaborating with the start-up since 2012.
VW said a solid-state battery would increase the range of its E-Golf “to approximately 750 kilometres compared with the present 300kms.
VW told BBB last month it would build a pilot manufacturing plant for battery cells in Germany as part of a new corporate “centre of excellence”.
