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  • November 2021 (Revised May 2022)
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QuantumScape's Mission to Revolutionize Energy Storage for a Sustainable Future

By: William A. Sahlman, Allison M. Ciechanover and Jeff Huizinga
  • Format:Print
  • | Language:English
  • | Pages:30
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Abstract

QuantumScape CEO Jagdeep Singh juggles the many activities required to lead the next-generation battery pioneer. Founded in 2010, QuantumScape’s mission was to develop new “solid-state” car batteries that would improve upon traditional lithium-ion batteries in key areas such as range, charging speed, durability, cost, and safety. Success, they believed, would accelerate the transition from gasoline-powered cars to electric vehicles. Between 2010 and late 2020, QuantumScape operated in stealth mode and raised venture financing totaling more than $800 million. The team grew to over 200 employees, nearly all scientists and engineers working on the technical challenges associated with creating a solid-state battery that could be produced at scale. By summer 2020 it was clear to Singh and the board that the company required more capital to help fund its commercialization plan. In November 2020, QuantumScape went public by merging with a Special Purpose Acquisition Company (SPAC). Now, with that capital in hand, production facilities under construction, and a signed joint venture with Volkswagen, Singh expected to see cars with its batteries on highways by 2025.

Keywords

Batteries; Electric Vehicles; SPACs; Innovation and Management; Technological Innovation; Science-Based Business; Environmental Sustainability; Auto Industry; Energy Industry; California; San Jose

Citation

Sahlman, William A., Allison M. Ciechanover, and Jeff Huizinga. "QuantumScape's Mission to Revolutionize Energy Storage for a Sustainable Future." Harvard Business School Case 822-044, November 2021. (Revised May 2022.)
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About The Author

William A. Sahlman

Entrepreneurial Management
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Related Work

    • November 2021 (Revised May 2022)
    • Faculty Research

    QuantumScape's Mission to Revolutionize Energy Storage for a Sustainable Future

    By: William A. Sahlman, Allison M. Ciechanover and Jeff Huizinga
Related Work
  • QuantumScape's Mission to Revolutionize Energy Storage for a Sustainable Future By: William A. Sahlman, Allison M. Ciechanover and Jeff Huizinga
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