QuantumScape is nearing pilot production for solid-state battery cells, drawing over $260 million in investments from the Volkswagen Group. Anode-free lithium metal cells are expected to offer greater range and faster charging than standard lithium-ion batteries. PowerCo, a subsidiary of VW, will provide an additional $131 million for pilot production, continuing its support after an earlier $130 million commitment. PowerCo, holding a 17% stake in QuantumScape, plans large-scale manufacturing of solid-state batteries that could eventually power one million electric vehicles annually.
The Volkswagen Group is investing over $260 million into QuantumScape, focusing on the pilot production of solid-state battery cells that promise increased range and faster charging.
PowerCo's additional $131 million funding will support the development of a pilot production line in San Jose, building on last year's $130 million commitment.
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