Volkswagen invests extra $200 million in U.S. battery company QuantumScape

A general view of the Volkswagen construction plant which reopened after closing down last month due to the coronavirus disease (COVID-19) outbreak in Bratislava, Slovakia

The Volkswagen Group is increasing its stake in QuantumScape Corporation, San Jose, California, and making an additional investment of up to US$200 million in the US battery specialist. The goal is to drive forward the joint development of solid-state battery technology. In future, solid-state batteries are expected to significantly increase range and shorten charging times further.

“We are making technological progress with our partner QuantumScape. The additional investment will effectively strengthen and accelerate our joint development work”, said Thomas Schmall, Chairman of the Board of Management of Volkswagen Group Components, which has end-to-end responsibility for batteries. The Volkswagen Group and QuantumScape have also been collaborating in a joint venture to enable industrial-level production of solid-state batteries since 2018.

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