A global pioneer in next-generation solid-state lithium-metal battery technology, QuantumScape Corporation announced that it is extending its strategic partnership and license agreement with PowerCo SE, the Volkswagen Group’s battery subsidiary, which was first signed in July 2024. Accelerating the QSE-5 battery development pilot line in San Jose is the goal of the revised partnership agreement, which represents a significant advancement in the industrialization of solid-state battery technology.
The agreement states that PowerCo will make further payments totaling up to $131 million over the following two years if the joint scale-up team meets specific goals. QS anticipates getting money in 2025 after reaching the initial objectives. These inflows are on top of the $130 million that was previously stated as being owed to QS upon the completion of the licensing agreement and satisfactory technical advancement.
The collaboration advances the ramp-up of QS’s pilot line by allowing PowerCo to participate early in QSE-5 production and automation activities. In addition to facilitating the delivery of higher-volume prototype cells to PowerCo, this step is crucial for scaling production and carrying out the knowledge transfer needed to introduce QSE-5 to international markets. With this expansion, PowerCo will be able to produce up to an extra 5 gigawatt-hours (GWh) of QSE-5-based cells per year, including for clients outside the Volkswagen Group, and will be able to license specific future QS technologies under the terms of the licensing agreement.
“This expanded agreement is a clear signal of the growing strategic, technical and financial alignment between the two companies,” stated Dr. Siva Sivaram, CEO and president of QS. “It reflects our shared confidence in QSE-5 as a game-changing platform for the battery industry.”
