The Volkswagen concern plans to significantly increase the production of solid-state batteries for electric vehicles thanks to an agreement with the American startup QuantumScape. This is reported by the Reuters agency, citing statements from both companies. The German automaker also announced plans to introduce new batteries in more models.
According to the agreement announced on July 11, the PowerCo division of the Volkswagen concern will receive a license for the mass production of batteries based on the technology developed by QuantumScape. Royalty payments are provided for this. The agreement replaces a previous agreement to create a joint venture, Volkswagen said.
Volkswagen Group currently owns 17% of QuantumScape, which is currently valued at $459 million. Thanks to the new agreement, PowerCo will be able to produce solid-state batteries with a total capacity of 40 GWh per year, with the possibility of increasing to 80 GWh per year.
This volume of production will be sufficient to equip about a million electric cars annually. Thus, the agreement will contribute to the significant expansion of the model range of Volkswagen electric vehicles with new solid-state batteries.
As part of the agreement, the German automaker and the American startup will be able to effectively collaborate to implement advanced battery technology in more electric vehicles, increasing their efficiency and autonomy.