QuantumScape Secures Campus in San Jose, California
November 8, 2021
QuantumScape Secures Campus in San Jose, California
November 8, 2021
Expansion to three new facilities to scale advanced manufacturing capabilities
SAN JOSE, Calif.–(BUSINESS WIRE)– QuantumScape Corporation (NYSE: QS) today announced QS Campus – the future hub of its upcoming manufacturing activities – after securing a new set of buildings in San Jose. The new campus comprises the current site of QS-0, QuantumScape’s pre-pilot production line, and the adjacent three new buildings. QS Campus is a key building block of QuantumScape’s multi-year strategic growth plan as it advances closer to commercializing its solid-state lithium-metal battery technology.
Much of the new space will be dedicated to manufacturing, ultimately expanding the footprint and overall capacities of its existing QS-0 and development buildings, and affords QuantumScape the necessary space to scale up manufacturing and execute on its development timeline. The company has confirmed 10-year lease agreements for the three new buildings of QS Campus.
“As we shift into the next phase of our growth trajectory, developing advanced manufacturing capabilities becomes more critical. To achieve our goals, we believe we must make progress on both development and manufacturing simultaneously,” said Jagdeep Singh, co-founder and CEO of QuantumScape. “This new campus provides us with an opportunity to continue our ground-breaking innovation while laying the foundation for scaling up those innovations into production.”
QuantumScape’s new facilities will also house additional research and development and office space to accommodate hundreds of new employees. The company plans to continue aggressive hiring of world-class talent through 2022 and beyond. The campus is designed to encourage more natural opportunities for employees to collaborate across departments and functions. This prime location in San Jose – in the heart of Silicon Valley, near world-renowned universities and research institutions – offers access to a rich pool of talent for the company to build out its team.
“As the capital of Silicon Valley, San Jose continues to welcome the growth of innovative tech leaders like QuantumScape,” said San Jose Mayor Sam Liccardo. “We are thrilled to see QuantumScape’s investment in our community and their commitment to bringing advanced battery development and local manufacturing jobs to North San Jose.”
The company will take possession of the new buildings and begin outfitting the facilities for specific purposes starting in January 2022. QuantumScape has been based in San Jose since its founding in 2010. The new site in North San Jose is minutes from its current location, which will retain its central role in the company’s research and development activities.
About QuantumScape Corporation
QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. The company is on a mission to revolutionize energy storage to enable a sustainable future. For more information, please visit www.quantumscape.com.
Forward-Looking Statements
This article contains forward-looking statements within the meaning of the federal securities laws and information based on management’s current expectations as of the date of this current report. All statements other than statements of historical fact contained in this article, including statements regarding the future development of QuantumScape’s battery technology, the anticipated benefits of QuantumScape’s technologies and the performance of its batteries, and plans and objectives for future operations, are forward-looking statements. When used in this current report, the words “may,” “will,” “estimate,” “pro forma,” “expect,” “plan,” “believe,” “potential,” “predict,” “target,” “should,” “would,” “could,” “continue,” “believe,” “project,” “intend,” “anticipates” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words.
These forward-looking statements are based on management’s current expectations, assumptions, hopes, beliefs, intentions, and strategies regarding future events and are based on currently available information as to the outcome and timing of future events. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Many of these factors are outside QuantumScape’s control and are difficult to predict. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that could materially affect QuantumScape’s actual results can be found in QuantumScape’s periodic filings with the SEC. QuantumScape’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
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