Volkswagen, the German automaker, has announced a partnership with QuantumScape, a leading solid-state battery developer, to produce advanced battery cells for electric vehicles.
Partnership Details
The partnership involves a $2.5 billion investment by Volkswagen in QuantumScape, which will be used to develop and commercialize QuantumScape's solid-state battery technology.
Herbert Diess, Volkswagen's CEO, stated that the partnership is a key step in the company's efforts to transition to electric vehicles and reduce its carbon footprint.
The investment is expected to increase QuantumScape's production capacity by 500% by the end of 2027.