QuantumScape Corp. (NYSE:QS) Siva Sivaram says that the company's PowerCo partnership with Volkswagen AG (OTC:VWAGY) will help the company develop solid-state batteries for cars in the future.
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Solid-state batteries use a solid electrolyte instead of a liquid-based solution, resulting in a more portable form factor and tighter packaging. Solid-state batteries could also provide better safety and faster charging speeds when compared to regular liquid-based batteries.
QuantumScape Targeting A Series Production Car By 2030
Speaking to investors and analysts at Wednesday's earnings conference, Sivaram highlighted that the company's QSE-5 solid-state battery, which was demonstrated at IAA mobility in Munich, powering a Ducati motorcycle, was "an emotional moment for all of us," as well as "a huge milestone for all of our employees, investors, and partners," Sivaram said.
"We are working toward automotive-grade standards with the goal of a series production car with QuantumScape Corporation technology before the end of the decade," Sivaram said.
Partnerships With Corning And Murata To Aid Ceramic Cell Separators
Sivaram also highlighted that agreements with Murata Manufacturing Co. Ltd. (OTC:MRAAF) (OTC:MRAAY) and Corning Inc. (NYSE:GLW) will help develop the company's solid-state batteries, which utilize ceramic cell separators, a key element in the solid-state battery architecture developed using QuantumScape’s COBRA process.
According to QuamtumScape, the COBRA process offers a 25 times improvement in heat treatment speed and occupies a fraction of the physical space per film start. It is also designed to enable faster, more efficient production with reduced equipment footprint.
"Our strategy involves partnering with specialized high-precision ceramic manufacturers such as Murata and Corning to scale up separator production," Sivaram said, adding that the companies would supply Ceramic separators to PowerCo, which would "handle final assembly."
QuantumScape's Earnings, China's Solid-State Breakthroughs
The news comes as QuantumScape announced its Q3 earnings, beating market consensus as it reported a loss of 18 cents per share, as compared to estimates of 21 cents per share. QuantumScape also announced that it ended the quarter with $1.08 billion in total liquidity.
Meanwhile, researchers in China have reportedly made multiple breakthroughs in developing solid-state battery technology, with one group of researchers developing a solid-state battery that could offer more than 600 miles of range and weigh at 220 lbs.
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