All discussion of QuantumScape QS

[SMAlset]

QS is holding its 2021 Q3 Earnings Call right now. Report is posted and audio call feed.

Report: https://s26.q4cdn.com/263384136/fil...1/q3/QS-Shareholder-Letter-Q3-102621-v1.2.pdf

Webcast link (registration required): QuantumScape - QuantumScape Corp. Third Quarter 2021 Earnings Call
Just in case you have an issue playing the live webcast after registering, afer I registered and clicked on the play arrow nothing happened. When I refreshed the page it began playing.

 

[SMAlset]

Don’t know if it’s my connection but hearing lots of annoying audio drop outs during conference call. Hopefully a complete recording will be posted afterwards.

 

[uujjj2]

Don’t know if it’s my connection but hearing lots of annoying audio drop outs during conference call. Hopefully a complete recording will be posted afterwards.

SeekingAlpha has a (badly rendered) transcript at QuantumScape Corporation (QS) CEO Jagdeep Singh on Q3 2021 Results - Earnings Call Transcript. Yeah I know we all hate SeekingAlpha but it's ok if you click just this once.

 

[SMAlset]

News of acquiring their San Jose, CA campus likely the momentum for today’s stock rise.

From: Berkshire Hathaway’s BusinessWire service:

QuantumScape Secures Campus in San Jose, California

QuantumScape Corporation (NYSE: QS) today announced QS Campus – the future hub of its upcoming manufacturing activities – after securing a new set of

www.businesswire.com

Currently at 38.16 up 23.02% near day high.

 

[uujjj2]

There's a big 3 of next-gen battery companies in the US: SES (Boston area), Solid Power (Denver area), and QuantumScape (Silicon Valley). Solid Power is by far the furthest along on the production side, but their cell is the least impressive. QuantumScape's cell stack is the holy grail, but they are far from production or even a complete prototype cell.

SES is in the middle on both measures. What they're doing is pretty interesting. They are not solid state but actually closer to a regular lithium ion with a non-solid (gel?) electrolyte and a conventional separator. But they have a pure lithium negative electrode just like QuantumScape. They are counting on electrolyte additives rather than a solid separator to prevent dendrites.

 

[Doggydogworld]

There's a big 3 of next-gen battery companies in the US: SES (Boston area), Solid Power (Denver area), and QuantumScape (Silicon Valley). Solid Power is by far the furthest along on the production side, but their cell is the least impressive. QuantumScape's cell stack is the holy grail, but they are far from production or even a complete prototype cell.

SES is in the middle on both measures. What they're doing is pretty interesting. They are not solid state but actually closer to a regular lithium ion with a non-solid (gel?) electrolyte and a conventional separator. But they have a pure lithium negative electrode just like QuantumScape. They are counting on electrolyte additives rather than a solid separator to prevent dendrites.

SES used to sell individual cells and ten-packs (for outrageous prices) to high altitude drone makers and such. Their cycle life was extremely low, something like 125 cycles. Of course they've had a couple more years of R&D since then.

They originally planned to expand from the drone niche into high-end consumer electronics by 2018. That made sense, with batteries less than 1% of COGS a $1000/kWh miracle cell that's lighter/thinner/faster charging/whatever will find buyers. But what EV OEM can pay that? Maybe Rimac would buy a handful?

2018 came and went with zero sales. They now seem focused on EVs. Feels like hype -- can't make viable cells so try to raise cash from gullible EV investors.

 

[mblakele]

Annual meeting: Wednesday, December 15, 2021 at 9:00 a.m., Pacific Time

Link: Welcome to QUANTUMSCAPE CORPORATION's Meeting

Business:

1. To elect ten (10) directors for a one-year term to expire at the 2022 annual meeting of stockholders;
2. To ratify the appointment of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2021;
3. To approve the Extraordinary Performance Award Program; and
4. To transact such other matters as may properly come before the annual meeting and any adjournment or postponement thereof.

Any thoughts on the Extraordinary Performance Award Program?

 

[SMAlset]

If you missed CNBC’s “PowerLunch” interview with Jagdeep as they discussed Quantumscape’s partnership deal with Fluence (a Siemens and AES company) relative to solid-state battery storage, here’s a link to the video (from today 1/13/22):

Lithium-battery maker Quantumscape announces partnership with Fluence

Jagdeep Sing, Quantumscape co-founder and CEO, joins 'Power Lunch' to discuss Quantumscape's partnership with Fluence on lithium battery technology.

www.cnbc.com

And more color from BusinessWire:

QuantumScape and Fluence to Collaborate on Stationary Storage with Solid-State Lithium-Metal Technology

QuantumScape Corporation (NYSE: QS) and Fluence Energy Inc. (NASDAQ: FLNC) today announced a multi-year agreement to introduce solid-state lithium-met

www.businesswire.com

 

[heltok]

Imo talking storage seems very gimmicky right now. Intially the batteries will have high performance but be expensive and thus be a best fit for low volume high value products. Over time they might scale production and lower the prices and then go after the high volume low value market.

 

[SMAlset]

Thought I’d add this year old article (1/7/21) from Green Tech Media highlighting who Fluence’s backers have been in this energy space. Goals sound like Tesla’s including software to manage and control the flow.

Why Fluence, the AES-Siemens Joint Venture, Just Raised $125M From Qatar

Fluence wants to grow its large-scale storage business faster to match an accelerating market.

www.greentechmedia.com

If QS’s batteries become a viable forward option for them, I suspect a lot of big money will flow to QS for a large production facility or two dedicated for their use. QS has said it has been focused on batteries for automotive use so as not to loose focus on development in that area, so I find this new partnership a very interesting development at this stage of the company.


I think we all see battery production exploding (ok bad choice of words lol) in the coming years and for many years to come and companies requiring them if they haven’t already had contracts or partnerships in place will be desperate to acquire what they need just like chips now. With regards to @heltok’s comments seems to me large scale battery storage would be one of those sectors that could afford low volume production at higher cost.

 

[kabin]

Storage is probably the holy grail relative to quantity demand but even then at some point, when night time power grid demand meets daytime, it all becomes a wash. It's a race to get your expensive solar/power storage system paid off before the rates are the same. At some point solar and energy storage company profits drop off.

 

[SMAlset]

QuantumScape announced 3 new board members today: Jeneanne Hanley, former senior vice president at Lear Corporation; Gena Lovett, former vice president of operations for defense, space and security at Boeing; and Susan Huppertz, chief manufacturing and supply chain officer at Hubbell Inc. Long-time director John Doerr, chairman of Kleiner Perkins who served for over a decade, is retiring.

QuantumScape Appoints Three New Members to Board of Directors

QuantumScape Corporation (NYSE: QS) has appointed three new members to its board of directors: Jeneanne Hanley, former senior vice president at Lear C

www.businesswire.com

2021 Q4 financial results will be published after market close on Wednesday, February 16, followed by a conference call at 2:00 pm PT (5:00 pm ET) with Jagdeep Singh, co-founder and chief executive officer, and Kevin Hettrich, chief financial officer.

QuantumScape Announces Timing of Fourth Quarter 2021 Financial Results and Webcast

QuantumScape Corporation (NYSE: QS), a leader in the development of next-generation solid-state lithium-metal batteries for electric vehicles, today a

www.businesswire.com

 

[JRP3]

They need to announce some progress on the battery, everything else is meaningless.

 

[SMAlset]

There was this news a few weeks ago that got carried by a number of sites:

QuantumScape Data Shows Industry-First 15-minute Fast Charging for Hundreds of Consecutive Cycles

QuantumScape releases new data showing industry-first 15-minute fast charging for 400 consecutive cycles

www.businesswire.com

There was also mention made in the last month maybe about a few more OEMs on board. Don’t recall exactly what was conveyed but wouldn’t be surprised if it’s something discussed in quarterly report and/or conference call coming up.

 

[SMAlset]

Recently posted video with Jagdeep discussing progress.

Interview 6 days ago with Jagdeep by E for Electric’s site host, Alex Guberman (I know a number of Tesla fans watch his site):

 

[JRP3]

Alex is full of misinformation, especially regarding Tesla. I stopped watching him long ago. 15 minute charge for 400 cycles does not impress me, lithium titanate was capable of more than that over 10 years ago.

 

[Cosmacelf]

It’ll be a couple of years before Quantumscape moves from ”very speculative stock” to growth company. The science is one thing, being able to manufacture at volume cheaply is quite another. Unlike, say Tesla, who could produce an expensive sports car initially, or even a pricey solid sedan, QS must hit very aggressive price targets or else they have no market. Batteries are different…

 

[SMAlset]

Alex is full of misinformation, especially regarding Tesla. I stopped watching him long ago. 15 minute charge for 400 cycles does not impress me, lithium titanate was capable of more than that over 10 years ago.

Well this is an interview with Jagdeep himself.

400 cycles isn’t the goal just what they’ve so far been able to test to. Jagdeep said he was not aware of any other solid state developer able to show results to that range even. Are you aware of such published research beyond? And does titanate have all the benefits and dendrite free capability as what QS is working on? If not, not sure how that would matter. Dendrite-free being the holy grail.

 

[JRP3]

Dendrite free isn't the holy grail, density, cycle life, safety and cost are. If dendrites form but are controlled well enough they aren't an issue. Lithium titanate does have low dendrite potential and is the highest cycle life of existing lithium chemistry, (over 10,000 cycles), as well as the safest, it still suffers from high cost and lower energy density. The point is that when a company talks about charging speed it probably means they fall short on all the other more important metrics.

 

[SMAlset]

Jagdeep’s interview with Alex (above) starts out with the basic understanding. He does respond to questions about Tesla’s 4086 cell improvements and what Toyota is testing in cars. Interesting aside is that he owns a MS, MX and Taycan. Alex asked how he came to be interested in working on this and he responded that he was driving a Roadster way back when and in spite of loving the car saw that batteries for EVs was an area of research much needed. So the Roadster gave him that initial impetus. He does mention a second major auto OEM on board now but does not disclose who.