At IAA Mobility, the world’s first live demonstration of QuantumScape Corporation’s (NYSE:QS) solid-state lithium-metal batteries powering an electric car was unveiled by Volkswagen’s (OTCPK:VLKAF) (OTCPK:VWAGY) PowerCo SE.
Volkswagen’s (OTCPK:VLKAF) (OTCPK:VWAGY) press conference at IAA Mobility in Munich included a Ducati motorcycle with QSE-5 battery cells, which are made using the QS Cobra production method. The display bike used a unique battery system made especially for QuantumScape’s (QS) solid-state battery cells by experts at VW Group-owned Audi.
The display, which featured the first anode-free solid-state batteries to transition from laboratory discovery to actual automobiles, was hailed as a major breakthrough in battery technology. The long-standing demand for batteries that excel in the five crucial battery performance parameters of energy density, charging speed, safety, lifespan, and cost-effectiveness is what QuantumScape (QS) stated as the ultimate goal of their technology.
“Today we’ve crossed the threshold from possibility to reality,” said Dr. Siva Sivaram, executive director of QuantumScape (QS). “We believe that our partnership with PowerCo, together with Ducati as our demonstration launch partner, positions us to scale our transformative technology to gigawatt-hour production,” he stated.
In order to hasten the commercialization of solid-state battery technology, particularly QuantumScape’s (QS) QSE-5 platform, the company’s collaboration with PowerCo SE has grown significantly. Beginning in July 2024, the partnership now includes a new agreement that accelerates cooperative scale-up operations for next-generation batteries, increases money, and grants manufacturing rights. With solid-state battery prototypes and manufacturing infrastructure already progressing, the collaboration is widely seen as a significant step toward the industrialization and widespread use of these batteries.
Following a 2.5% gain on Friday, QuantumScape (QS) shares increased 8.7% in premarket trading on Monday. 10.0% of the entire float is short interest in QS.