Quantumscape Corp Stock Price, News & Analysis

QuantumScape Corporation (NYSE: QS) will join the Russell 3000 and Russell 1000 Indexes effective June 28, 2021. This annual reconstitution recognizes the company's progress in developing solid-state lithium-metal batteries for electric vehicles. CEO Jagdeep Singh highlighted this milestone as a way to enhance awareness of their technology's potential to support the automotive industry's transition to electric powertrains. Membership in these indexes is based on market capitalization and style attributes, lasting for a year.

QuantumScape Corporation (NYSE: QS) announced the appointment of Celina Mikolajczak as Vice President of Manufacturing Engineering. Mikolajczak will oversee the transition from R&D to production, focusing on deploying high-throughput processes at the QS-0 facility, which aims to produce over 200,000 cells annually for electric vehicles. Her extensive experience includes roles at Tesla Motors and Panasonic. She replaces her board seat, emphasizing a strategic shift towards mass production. CEO Jagdeep Singh expressed excitement about her joining the team.

QuantumScape has partnered with Volkswagen Group of America to establish a solid-state battery pilot-line facility, QS-1, expected to produce 1 GWh of electric vehicle batteries initially. The location is currently being considered in Salzgitter, Germany, with plans to expand capacity to 20 GWh. This collaboration aims to leverage QuantumScape's battery technology and Volkswagen's manufacturing expertise to expedite market entry. QuantumScape also announced it is doubling capacity at its initial pilot line, QS-0, to over 200,000 cells annually. Recently, Volkswagen invested an additional $100 million after successful technical testing.

QuantumScape (NYSE:QS) announced its financial results for Q1 2021, ended March 31, 2021. The company emphasizes progress in developing next-generation solid-state lithium-metal batteries for electric vehicles. A Shareholder Letter detailing results and updates on multilayer cells and zero pressure cells is available on their Investor Relations website. CEO Jagdeep Singh expressed enthusiasm about recent developments, and a conference call will be held today at 2:00 PM PT. For more details, visit QuantumScape's website.

QuantumScape Corporation (NYSE: QS) will release its Q1 2021 financial results on May 11, 2021, after market close. A conference call led by CEO Jagdeep Singh and CFO Kevin Hettrich will follow at 2:00 p.m. PT (5:00 p.m. ET). The call is accessible via a live webcast on QuantumScape’s website, with an archive available for twelve months post-call. QuantumScape is recognized for developing advanced solid-state lithium-metal batteries aimed at enhancing electric vehicle technology.

QuantumScape (QS) announces the restatement of its consolidated financial statements for the year ended December 31, 2020, following the SEC's guidance on SPAC warrants. This restatement will adjust the accounting treatment of public and private placement warrants to reflect them as liabilities, leading to an estimated increase in liabilities of $675 to $705 million and a decrease in additional paid-in-capital by $95 to $125 million. Importantly, there is no cash impact on the company's operations or future plans.

QuantumScape Corporation (NYSE: QS) announced the appointment of Celina Mikolajczak as an independent director. Currently serving as Vice-President of Engineering & Battery Technology at Panasonic, she has extensive experience in battery technology for electric vehicles. Her previous roles include Director of Engineering at Uber and Senior Manager at Tesla. CEO Jagdeep Singh expressed excitement about her expertise in high-volume battery manufacturing, which will be crucial for advancing QuantumScape's solid-state lithium-metal battery technology.

QuantumScape Corporation (NYSE: QS) has successfully closed an underwritten public offering of 11,960,000 shares of its Class A common stock, raising gross proceeds of $478.4 million. This includes the full exercise of the underwriters’ option for an additional 1,560,000 shares. The offering was managed by Goldman Sachs & Co. LLC and Morgan Stanley as joint lead book-running managers, with other firms acting as co-managers. The Securities and Exchange Commission declared the registration statement for this offering effective on March 25, 2021.

QuantumScape Corporation (NYSE: QS) announced a public offering of 10,400,000 shares of its Class A common stock, aiming for gross proceeds of $416.0 million. Underwriters have a 30-day option to purchase an additional 1,560,000 shares at the public offering price. The offering is set to close on March 29, 2021, pending customary conditions. Goldman Sachs and Morgan Stanley lead the offering, with Deutsche Bank as an additional book-running manager. This event follows the SEC's effective declaration of the registration statement on March 25, 2021.