Volkswagen increases stake in battery specialist QuantumScape

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2020-06-30 17:39:35

Volkswagen is increasing its stake in QuantumScape, making an additional investment of up to $200 million in the US battery specialist. “We are making technological progress with our partner QuantumScape. The additional investment will effectively strengthen and accelerate our joint development work,” said VW Chairman Thomas Schmall. Volkswagen and QuantumScape have been collaborating in a joint venture to enable industrial-level production of solid-state batteries since 2018.

“Volkswagen is taking e-mobility to the mainstream. A strong position in batteries is a decisive factor in this regard,” said Frank Blome, Head of VW’s Battery Cell business. “We are securing our global supply base with efficient producers, gradually building up manufacturing capacities and driving the development of cutting-edge solid-state battery technology. Our focus in this context is on long-term strategic partnerships.”

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