Volkswagen has apparently declared to increase its stake in QuantumScape, the California based technology company in a bid to secure its access to the next-level solid state battery technology. The German automaker has entered into a joint venture agreement with QuantumScape Corporation with an investment of nearly USD 100 million, for the commercialization of the latter’s solid state batteries. Allegedly, through this deal, Volkswagen is planning to establish a full-fledged solid state battery production line by the end of 2025.
For the uninitiated, the solid-state battery technology is seen as one of the most promising approaches for e-mobility in future. Sources claim that solid state battery technology gains a competitive advantage over present lithium-ion technology on a variety of rationales – higher energy density, faster charging capability, enhanced safety and most importantly, less space requirement.
A solid state battery which is of the same size as that of a current battery package is capable of achieving a range that is comparable to conventional vehicles. According to the automotive giant, solid state batteries can increase the range of the current e-golf to almost 750 kms, compared to the present 300 kms.
For the record, QuantumScape, set up in the year 2010, now boasts of a portfolio of approximately 200 patents and its subsequent application for solid-state battery technology. Having recognized the immense potential of the company, Volkswagen may have joined forces with QuantumScape to incorporate its advanced battery technology in its vehicles, claim experts familiar with the matter.
As per the official confirmation, Volkswagen is probably the first player in the automotive space to test Quantumscape’s solid-state battery technology successfully at automotive rates of power. Allegedly, in parallel to its solid state battery production line that is reported to come onboard by 2025, Volkswagen plans to launch 50 all-electric vehicle models across multiple brands by 2025.