VW Increases Battery Investments
June 18, 2020—Volkswagen Group is increasing its investment in a U.S.-based battery technology startup.
Motor Authority reports that the startup, QuantumScape, should expect an additional $200 million investment from the automaker. That adds to the $100 million or so that has already been devoted to the company.
According to the article, QuantumScape focuses on solid-state battery designs that could shorten charge time and lengthen range. VW and QuantumScape have worked together since 2012.
Motor Authority says that VW is positioning itself to be a big player in the EV/battery space.