Management changes

Solid-state battery expert QuantumScape has made a major breakthrough and has begun small-scale production of its first Type B battery, QSE-5, achieving its most important goal for 2024. The QSE-5 has a capacity of 5Ah and an energy density exceeding 800Wh/l, marking a significant milestone for the company and the entire battery industry. This battery delivers outstanding performance in energy density, discharge power, charging speed, low-temperature performance, and safety. It has already started being delivered to automotive industry clients for testing, though extensive product testing over several months is still required, along with significant improvements in battery reliability and other metrics.

Prior to the QSE-5, QuantumScape had produced two battery prototypes. The company is also researching manufacturing processes suitable for mass production. For instance, the "Raptor production process" for small-batch production of QSE-5 has already been implemented, while the "Cobra production process" is expected to be used for large-scale production of solid-state electrolyte separators by 2025.

QuantumScape has reached a landmark agreement with PowerCo, a subsidiary of Volkswagen. The two parties are engaged in joint development activities at the San Jose facility. The core of their future collaboration is a non-exclusive license, allowing PowerCo to mass-produce solid-state fuel cells based on this technology. QuantumScape has undergone management changes. Co-founder and CEO Jagdeep Singh will step down at the end of 2024 after nearly 15 years in the role, to be succeeded by Dennis Segers, former CEO of Xilinx. There have also been changes on Volkswagen's board, with Dr. Günther Mendel replacing Frank Blome.