Volkswagen To Invest $100 Million In Electric Vehicle Battery Tech

The German carmaker Volkswagen, has announced that it will invest close to $100 million USD in US-based QuantumScape and a newly formed joint venture will work with the aim to enable an industrial level of production of solid-state batteries. Volkswagen will invest 100m USD in US-based QuantumScape and will become the innovative enterprise's largest automotive shareholder. One of the long-term targets of the joint venture is to establish a production line for solid-state batteries by 2025. By increasing its stake in QuantumScape Corporation, VW is paving the way for the next level of battery power for long-range e-mobility.

Also Read: Volkswagen Truck And Bus To Become Traton Group

Axel Heinrich, Head of VW Group Research said, "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 is the world's largest automotive manufacturer and leads the industry in its commitment to electrification of its fleet," says Jagdeep Singh, CEO of QuantumScape. "We are thrilled to be chosen by Volkswagen to power this transition. We think the higher range, faster charge times, and inherent safety of QuantumScape's solid-state technology will be a key enabler for the next generation of electrified powertrains."

Also Read: Volkswagen, Ford Sign MoU To Form Strategic Alliance

The solid-state battery cell technology is seen as the most promising approach for the e-mobility of the future. A solid-state battery can increase the range of the e-Golf to approximately 750kms compared with the present 30kms. This new battery technology will further enhance the present lithium-ion technology. A solid-state battery of the same size as a current battery package can achieve a range comparable to that of conventional vehicles. Volkswagen successfully tested QuantumScape early-stage solid-state battery sample cells in Germany running at automotive rates of power.