Volkswagen invests approximately US$ 200 million in solid-state battery home builder QuantumScape

• This financial investment begins top of US$ 100 million invested in 2018. Equity capital and also corporate funding of brand-new power technologies proceeds regardless of-- or probably because of-- the pandemic.

The Volkswagen Group just boosted its risk in QuantumScape with a financial investment of up to $200 million in the U.S. solid-state battery programmer. This funding comes two years after VW spent $100 million in the secretive battery startup as well as makes Volkswagen its biggest vehicle shareholder.

QuantumScape began in 2010 as a Stanford University offshoot and was initially funded by ARPA-E for its "all-electric battery." That concept was soon deserted for a lithium metal solid-state approach.

According to VW, "This battery technology has advantages over the present lithium-ion technology: higher power thickness, enhanced safety and security, much better quick charging capacity and also-- most importantly-- they occupy dramatically less space."

" Solid-state' is synonymous with 'lithium steel anode,'" according to battery professional David Snydacker, in an earlier meeting. He notes that "many generations of battery scientists have actually tried and also failed to produce a business practical lithium metal battery that is rechargeable."

Other investors in QuantumScape include Kleiner Perkins, Prelude Ventures, Lightspeed Venture Partners, Capricorn Investment Group, and Khosla Ventures. QuantumScape's CEO Jagdeep Singh is the successful owner of Lightera as well as Infinera. Dipender Saluja, handling supervisor at Capricorn Investment Group gets on QuantumScape's board, as is VW's Axel Heinrich. Bruce Sohn, previous president of First Solar as soon as worked as president of QuantumScape.

Other companies dealing with solid-state batteries include Ionic Materials and also Solid Energy (GM is a financier). Sakti3, gotten by vacuum cleaner contractor Dyson for an ill-fated EV, was developing solid state batteries, as was the Bosch-acquired Seeo with its polymer electrolyte. Toyota has actually made substantial financial investments in solid-state battery growth.

Volkswagen has been working with QuantumScape because 2012 and has actually remained in a joint venture to make it possible for industrial-level manufacturing of solid-state batteries considering that 2018. It's a testimony to the difficulty of developing a brand-new battery modern technology that it has actually taken more than a years to bring this product to the side of industrial production.

Greater energy density is one of the most vital vehicle driver of solid-state lithium steel batteries as it makes it possible for longer driving range and a smaller sized less expensive battery pack. The world's automobile giants are in a costly modern technology race for the lead in electrical cars-- and also they are not slowing down.