QuantumScape has amended its collaboration agreement with PowerCo SE, Volkswagen Group's battery company, to update the joint development program for its QSE-5 solid-state battery technology. The amendment, effective July 16, 2026, transitions the payment model from cost reimbursement to a milestone-based structure.
Key Details
- Agreement Partner: The amendment is with PowerCo SE, a wholly-owned battery company of the Volkswagen Group.
- Financial Terms: QuantumScape will receive payments based on achieving specific milestones, with the maximum aggregate program value set at $75.4 million, inclusive of amounts previously paid.
- Program Focus: The updated milestones are centered on automotive cell development, larger format cells, and technology validation and delivery over the next two years.
- Agreement Structure: The previous Statement of Work No. 1 was terminated and replaced by the terms of this new amendment.