Volkswagen invests $100M in solid-state battery startup QuantumScape
German automaker Volkswagen has revealed in a recent announcement that it is investing $100 million in solid-state battery startup QuantumScape, a startup that recently spun out of Stanford. The investment makes Volkswagen the latest automaker to have invested in solid-state batteries for electric cars.
Solid-state batteries are considered by many to represent the next advancement in energy storage, though there is no specific timeline for their commercialization as yet. Nonetheless, these batteries are believed to be comparatively much safer than the common li-ion cells, and may also have a greater potential for higher energy density.
Volkswagen has been in collaboration with QuantumScape for the past few years. Its recently-announced $100 million investment in the startup apparently indicates that the automaker is now making a more serious commitment to bring the solid-state battery technology developed by the startup to the market.
As a result of Volkswagen’s investment, VW Group Research head Dr. Axel Heinrich will become a member of the QuantumScape board of directors.
Describing the investment in QuantumScape as Volkswagen’s latest step “toward a sustainable, zero emission mobility for our customers in the future,” Heinrich said that Volkswagen wants to “accelerate the commercialization of QuantumScape’s solid-state batteries.” He also added that the investment will pave the way for the two companies to “combine forces to leverage Volkswagen’s experience as a production specialist and QuantumScape technology leadership.”
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