- Volkswagen Group closes QuantumScape transaction and invests 100 million USD in the US-based leading technology company for solid-state batteries
- New joint venture with QuantumScape aims to enable an industrial level of production of solid-state batteries
Volkswagen closes QuantumScape transaction
The Volkswagen Group has concluded the planned increase in its stake in the California technology company QuantumScape. The Committee on Foreign Investment in the United States (CFIUS) had no objection to the transaction. Volkswagen is investing 100 million USD in the battery specialist, thus becoming its largest automotive shareholder. Volkswagen will now take a seat on the board of directors of QuantumScape. Furthermore, Volkswagen and QuantumScape have formed a joint venture to enable an industrial level of production of solid-state batteries.