- Objective of new joint venture with QuantumScape is the commercialization of innovative solid-state battery technology
- Volkswagen is the largest automotive shareholder in Stanford spin-off QuantumScape Corporation
- Volkswagen Group will take a seat on the board of QuantumScape
Volkswagen partners with QuantumScape to secure access to solid-state battery technology
By increasing its stake in the California technology company QuantumScape Corporation and forming a new joint venture, Volkswagen Group is paving the way for the next level of battery power for long-range e-mobility. Dr. Axel Heinrich, Head of VW Group Research, who will take a seat on the board of directors of QuantumScape, says: “We want to accelerate the commercialization of QuantumScape’s solid-state batteries. And we combine forces to leverage Volkswagen’s experience as a production specialist and QuantumScape technology leadership. Volkswagen is thus taking another step toward a sustainable, zero emission mobility for our customers in the future.” Volkswagen will invest 100m USD in US-based QuantumScape and will become the innovative enterprise’s largest automotive shareholder. Closing of the transaction is subject to regulatory approval.