Solid-state battery developer QuantumScape has recently shared its Q2 2023 report, offering several updates on its progress toward reaching commercialization – particularly in the EV segment. The company is reporting stellar milestones including a shipment of high cathode-loading cells to automotive partners as well as details of a potential customer chosen for an official launch of its first product.
QuantumScape ($QS) is an advanced battery technology company with well over a decade’s worth of experience developing (hopefully) scalable, ultra energy-dense solid-state battery cells that can one day achieve cost parity with traditional lithium-ion cells popular in current EV models.
Despite its tenure in the nascent, holy-grail space of solid-state cells, the company didn’t truly start making believers out of us until 2020, when it announced it had reached a “major breakthrough” by utilizing a proprietary ceramic separator. This led to single-layer prototype cell testing, followed by 10-layer cells, then 16-layer prototypes.
By Q2 of 2022, QuantumScape had expanded its technology to energy-dense, 24-layer cells, ripe for vigorous internal testing. These Sample-A cells, represented the beginning of a three-step journey (A, B, and C) toward automotive qualification and eventual production.
Last December of 2022, QuantumScape began delivering the first 24-layer A0 prototype cells to automotive partners for them to test themselves and by Q1 of 2023, testing had been completed by at least one unnamed EV OEM.
At that same time, QuantumScape shared that its first commercial solid-state product will be an ~5 Ah cell called QSE-5. According to its Q2 2023 report, QuantumScape shared it is now shipping those prototype cells to partners as well.
Credit: QuantumScape
QuantumScape remains on track in Q2
The solid-state specialist outlined details of its progress the past three months in a letter to shareholders expressing optimism and progress toward core goals previously outlined. One of which was to increase the cathode-loading capabilities of its cells which enables higher cell energy within the same design footprint.
These advanced cathodes, bolstered by anode-free lithium-metal technology, offer loading that is greater than 5 mAh/cm² – significantly higher than cathodes QS has previously shipped to customers (~3.1 mAh/cm²), and still capable of storing more energy than 2170 cells used in some of the longest range EVs on the current market (~4.3 mAh/cm²). See chart above.
In its Q2 report, QuantumScape confirmed that it has already shipped these new high cathode-loading cells to multiple automotive partners, remaining on track in its development timelines. Combined with the aforementioned 24-layer prototype cells, QuantumScape believes it can soon deliver “industry-leading energy and power performance,” and its latest shipment validates that.
Credit: QuantumScape
One of those partners that is currently testing the prototype cells may end up being the first OEM to commercially launch the company’s flagship QSE-5 in an EV. The Q2 2023 report states that QuantumScape is already in cahoots with a prospective launch partner in the automotive sector. QS says it is working with this mystery partner to bring its technology to the EV market ASAP.
When QSE-5 does hit the EV market donning someone’s badge, QuantumScape is anticipating some decent charge rates. The battery developer had previously targeted a 10-80% fast charge in 15 minute, and reported that it has successfully demonstrated it (see chart above). Here are some additional updates from QuantumScape’s Q2 report:
The A0 prototype cells successfully passed all safety tests with a hazard levels of 3 or lower as defined by EUCAR and SAE J2464 standards, including nail penetration, overcharge, external short circuit, and thermal stability testing up to 300°C.
QS’ previously laid out plans to implement a fast separator heat-treatment process in manufacturing will roll out in two phases – Raptor and Cobra (I love these names).
Raptor is already complete and introduces a step-change process allowing continuous flow heat treatment to process the separator films faster with less total heat energy exerted.
Raptor is expected to support B0 prototype cell production samples in 2024, and QS expects initial qualifying production to begin before the end of 2023.
Cobra will build off Raptor and add even faster processing – particularly in the cell’s ceramics.
QuantumScape see’s Cobra as a potential game changer in scaled manufacturing and is currently operating prototypes before an initial production system is implemented on the QS-0 assembly line for B-sample cells.
QuantumScape ended Q2 2023 with over $900 million in liquidity and believes it has enough runway to continue development into the second half of 2025. That’s all for now – until next quarter!
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Ferrari and Porsche will soon have company. BYD just confirmed plans to launch Yangwang, its ultra-luxury EV brand, in Europe. It will be the first Chinese brand to enter Europe’s most elite segment.
BYD preps new ultra-luxury EV brand for Europe
After launching Denza earlier this year, BYD is set to introduce another luxury brand to Europe. Yangwang is BYD’s most exclusive lineup of new energy vehicles, featuring its advanced technology and performance.
The brand has been on sale in China for about two and a half years, and now, it’s preparing to launch in Europe. BYD’s vice president Stella Li told Autocar that “our plan is that we will bring Yangwang into Europe,” after Denza earlier next year.
BYD launched its ultra-luxury EV brand in January 2023, with the first vehicle, the Yangwang U8, going on sale in September of the same year.
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The Yangwang U8 is a Range Rover-like extended range electric SUV (EREV), packing over 1,100 hp (880 kW). It also comes loaded with features like float mode, which allows it to literally float on water, tank turns, and the U8 can even plow through more water than a Defender.
BYD Yangwang U8L (Source: Yangwang)
A few months later, BYD launched the second vehicle, the Yangwang U9, in February 2024. The Yangwang U9 is an electric supercar that can jump and dance thanks to BYD’s DiSus-X body control system.
It’s faster than a Ferrari, with four electric motors delivering nearly 1,300 hp, enabling a 0 to 62 mph (0 to 100 km/h) sprint in just 2.36 seconds.
BYD Yangwang U9 electric supercar (Source: BYD)
The Yangwang U8 and U9 start at 1,098,000 RMB ($150,000) and 1,680,000 RMB ($230,000) in China, respectively. Both will be sold in Europe.
Li said that “more cars are coming,” including the Yangwang U7, an electric ultra-luxury sedan. BYD delivered the first U7 models in China last month, starting at 628,000 RMB ($87,000).
BYD Yangwang U8 SUV (left) and U7 luxury EV sedan (right) Source: Yangwang
The four-seater variant costs 708,000 RMB, or about $98,500, which is still about half the cost of the most affordable Ferrari.
With Yangwang set to arrive in Europe, BYD will be the first Chinese automaker to enter Europe’s top luxury auto segment.
With an additional 17% tariff, export costs, and other factors, prices in Europe are expected to be notably higher. We will learn more as we get closer to launch.
Source: Autocar
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The stock rose following the announcement late Friday as investors sought to get in ahead of index fund managers, who will need to buy shares to mimic the changes. Square’s $48 billion market cap at Monday’s close places it well above the median S&P 500 constituent, though shares are still down 8% this year.
Passive funds are expected to purchase roughly 101 million shares of Block due its inclusion, equivalent to about 11 days of average trading volume, according to a note from Stephens.
Block is working to reestablish investor confidence after uneven performance from its Cash App business. Gimme Credit’s Stu Novick noted that while gross profit growth missed estimates last quarter, the company still delivered strong adjusted earnings and improving cash flow.
While Block is joining the benchmark index, a major player in the fintech industry remains on the sidelines.
Robinhood has delivered one of the strongest recent runs in the U.S. stock market, soaring 345% in the past year. Yet despite nearing a nearly $100 billion, the company has been repeatedly passed over for S&P 500 inclusion.
Carry Anker’s 60,000mAh PowerCore Reserve station and keep devices running for $88
By way of its official Amazon storefront, Anker is offering its PowerCore Reserve 60,000mAh Power Bank Station at $87.99 shipped, with it also coming in a few dollars under the brand’s current direct pricing. Normally costing $150 at full price, we’ve mostly seen discounts over the last year dropping costs between $110 and $90, though there have been a few select falls to $80, and recently we saw Prime Day take things to $75. While it may not be the new lowest price, you’re still looking at the third-best rate we have tracked, saving you $62 off the going rate while equipping you with a sizably reliable means to keep your personal devices juiced up and running.
Anker’s PowerCore Reserve power station, which you’ll also find sold under the name 548 Power Bank, is a five-pound backup power solution to top off personal devices with while you’re camping, cruising the roadways, hanging out on the beach, and much more. You’ll have a totable 60,000mAh/192Wh battery capacity here that beats out most power banks on the market while also delivering up to 60W speeds through either its two USB-A ports or two USB-C ports.
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Aside from its easy-to-carry design, it also comes sporting a convenient pop-up light for when you’re out in the dark of the wilderness or even without power at home, coming with two brightness levels alongside an S.O.S. mode to signal for help in emergencies. You can completely recharge its battery by plugging it into a wall outlet or by utilizing up to its 60W solar input to charge via the sun.
Schumacher’s 2025 level 1 portable EV charger plugs into any 120V outlet for on-the-go power at $130
Amazon is now offering the new Schumacher SEV1670 12A Level 1 Portable EV Charger at $129.59 shipped. This model hit the scene at the tail-end of May with a $160 price tag, which has only recently started seeing discounts, with the biggest of them being from the Prime Day sale event two weeks ago that saw the costs taken down to $128. Today’s deal comes in just $2 above that rate for the second-best pricing we have tracked, all while giving you $30 in savings.
Aiper’s new IrriSense smart irrigation system covers up to 4,800 square feet at $600 (second-ever discount)
Coming to us through its official Amazon storefront, Aiper is offering the second-ever discount on its new IrriSense Smart Irrigation System back to $599.99 shipped, matching directly from the brand’s website. This new smart irrigation device has only been on the market since May, with it usually going for $700 outside of the two price cuts we’ve seen. It first dropped to this same rate the day before Prime Day began, and hung on to the savings through the four-day event. Now, it’s coming back for a post-Prime second chance, saving you $100 while upgrading your lawn care routine with a smarter alternative.
Hoverfly’s H3 16-inch folding e-bikes make great first-time rides with four add-on accessories starting from $406
Amazon is offering quite the affordable bundle on Hoverfly’s H3 16-inch Folding e-bike in its orange colorway, and coming with four add-on accessories at $406.09 shipped, while its other colorways are seeing smaller discounts at higher rates. It’s dropping down from the $580 price tag today, with this being the first time we’ve spotted this particular bundle dropping so low. Before the fall to $425 during Prime Day, we only ever saw costs fall as low as $450, with all those rates beaten by the 30% markdown here that gives you $174 in savings and a new all-time low price. Along with the bike, you’ll be getting a front carrier bag, a rear cargo basket, a phone holder, and a rearview mirror to upgrade and elevate your experience.
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
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