Developing solid-state lithium-metal batteries that promise 80% faster charging and 50%+ more range than conventional cells. Pre-revenue startup backed by Volkswagen with ~$1B cash on hand to fund commercialization efforts. Targeting initial automotive production by mid-decade with the potential to transform EV battery energy density and safety.
Key Milestones
Founded by Jagdeep Singh, Tim Holme, and Stanford Professor Fritz Prinz as Infinite Power Storage in Stanford GSB's StartX accelerator — initial focus on solid-state lithium-metal anode-free architecture using ceramic separator. Tim Holme's PhD at Prinz Lab on atomic-layer-deposition solid electrolytes is the IP foundation; renamed QuantumScape 2012.
Volkswagen invested $100M and formed automotive-industrialisation JV (later Powerco) to take QuantumScape's anode-free, lithium-metal solid-state cells from lab to scale. Initial QS cell test data showed >0.5 Ah capacity with sub-2 mAh/cm2 areal capacity. VW commitment of additional $200M tied to QS milestones — anchor customer for the next 7+ years.
Went public on NYSE via Kensington Capital SPAC merger at ~$3.3B implied valuation — raised ~$1B gross. Stock spikes to $130 (Dec 2020), >40x SPAC trust value, putting QS on $50B+ market cap briefly. The defining SPAC battery boom event; a year later valuation collapses 90% on commercialization-timeline reset.
First public solid-state cell test data: single-layer cells held >80% capacity over 800 cycles at 1C charge/discharge, with >300 Wh/kg projected at the cell level. Demonstrated 15-min 0-80% fast charge with anode-free architecture. Set the technical reference benchmark for solid-state automotive viability.
Shipped first 24-layer prototype solid-state cells to automotive customers (VW Powerco, undisclosed others) for testing — capacity scale from 10 Ah single-layer cells. Major step from lab demonstration to vehicle-relevant cell formats.
Delivered Alpha-2 prototype cells to Volkswagen PowerCo for B-sample evaluation — multi-layer cells with improved cycle life (~1,000 cycles to 80%). PowerCo's industrial-engineering team transitions cells through B-sample qualification at Salzgitter; A-sample → B-sample progression critical for 2027 pilot vehicle integration.
Signed expanded license with Volkswagen PowerCo — non-exclusive license for 80 GWh/yr planned solid-state production at Salzgitter. License-and-royalty structure: $130M upfront + per-Wh royalty payments. Signals VW commitment to solid-state at industrial scale despite Powerco organisational reset.
Cobra separator-fabrication process baselined in San Jose, replacing legacy Raptor process — unblocks B-sample manufacturing scale-up. Throughput improvement >10x with material yield gains; critical step toward Powerco Salzgitter pilot-line tech transfer 2026.
Powerco Salzgitter pilot solid-state line tech-transfer initiated — Cobra-baseline separators shipped to Germany; 10 MWh QS-licensed pilot capacity targeted 2027. First QuantumScape industrial-scale ASSB production outside San Jose.