4 articles | last updated: Jul 11 16:39:00
The non-exclusive agreement aims to scale up production for electric vehicles, enhancing range and reducing battery degradation.
- PowerCo can manufacture up to 40 GWh annually, with the option to expand to 80 GWh.
- This capacity could equip approximately one million electric vehicles per year.
- QuantumScape's stock surged following the deal announcement.
- The agreement replaces a previous joint venture between Volkswagen and QuantumScape.
- Frank Blome stepped down from QuantumScape’s board to lead PowerCo in this new phase.
People, Places and Things In This Story
- Volkswagen Automobile manufacturer
- QuantumScape Company
- PowerCo SE Company
Categories:
- Business
- Technology
- Finance