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PowerCo and QuantumScape Announce Landmark Agreement to Industrialize Solid-State Batteries
Jul 11, 2024
Contract Type
agreement
SalzgitterManufacturingAnalytics
Description
Volkswagen Group’s battery company PowerCo and QuantumScape have entered into a groundbreaking agreement to industrialize QuantumScape’s next-generation solid-state lithium-metal battery technology. The non-exclusive license allows PowerCo to manufacture up to 40 gigawatt-hours (GWh) per year with the option to expand. This agreement aims to achieve gigawatt-hour-scale production of solid-state technology to meet the increasing global demand for better electric vehicle batteries.
Company Information
Company
PowerCo
Location
Salzgitter, Lower Saxony, Germany
About
The Volkswagen Group is bundling its global battery activities in the European company (SE) PowerCo. From Salzgitter, the company will, with immediate effect, manage international factory operations, the further development of cell technology, the vertical integration of the value chain and the supply of machinery and equipment to the factories. Looking ahead, further products such as major storage systems for the energy grid are planned. Since its launch in July 2022, PowerCo has already decided three gigafactory locations: Salzgitter in Germany, Valencia in Spain and St. Thomas in Canada. The company plans to set up cell factories with a total capacity of 240 GWh/year in 2030.
SalzgitterManufacturingAnalytics