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VW Increases Stake in Solid-State-Battery Developer
Volkswagen AG is investing $100 million in QuantumScape Corp., a Silicon Valley developer of solid-state batteries, and hopes to open a large-scale production facility for the technology by 2025.
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Volkswagen AG is investing $100 million in QuantumScape Corp., a Silicon Valley developer of solid-state batteries, and hopes to open a large-scale production facility for the technology by 2025.
The carmaker acquired a 5% stake in QuantumScape in late 2014. The new investment makes VW the battery maker’s largest shareholder and will give it a seat on the board of directors.
VW expects solid-state batteries will more than double the driving range of electric vehicles with lithium-ion packs. In the eGolf, this would boost range from 186 miles to 466 miles on the European driving cycle.
Solid-state batteries also promise higher energy density, enhanced safety and faster charging capability. The new batteries are more compact, thus will take up less space in a vehicle.
VW says it already has tested prototype QuantumScape solid-state systems for EVs. QuantumScape was founded in 2010 as a spin-off from Stanford University.
Several other carmakers also plan to introduce EVs with solid state batteries over the next 5-10 years. The initial group with announced plans consists of BMW, Dyson, Fisker, Porsche and Toyota.
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