QuantumSpcae is Merging with Kensington Capital Acquisition Corp.
Daniel Johnson — September 6, 2020 — Eco
References: quantumscape & techcrunch
QuantumSpace, a company specializing in solid-state batteries for EVs, will merge with Kensington Capital Acquisition Corp. The merger will help QuantumSpace raise funds to be able to produce solid-state batteries for eco-friendly vehicles that traditionally have used lithium-ion batteries. Jagdeep Singh, the CEO of QuantumSpace, indicated that a number of companies in the automotive industry have attempted to produce solid-state batteries, however these attempts have been unsuccessful due in part to financial costs.
Solid-state batteries employ a solid electrolyte, in place of liquid or gel materials. This allows the battery to more efficiently store energy, producing a longer battery life.
With the new merger, QuantumScape will now have a market valuation totalled at $3.3 billion and it will continue to be listed on the NYSE.
Image Credit: QuantumScape
Solid-state batteries employ a solid electrolyte, in place of liquid or gel materials. This allows the battery to more efficiently store energy, producing a longer battery life.
With the new merger, QuantumScape will now have a market valuation totalled at $3.3 billion and it will continue to be listed on the NYSE.
Image Credit: QuantumScape
Trend Themes
1. Solid-state Batteries - The merger of QuantumScape and Kensington Capital Acquisition Corp presents a disruptive innovation opportunity in the development of solid-state batteries for EVs.
2. Eco-friendly Vehicles - The merging of QuantumScape and Kensington Capital Acquisition Corp creates opportunities for disruptive innovation in the production of solid-state batteries for eco-friendly vehicles.
3. Financial Partnerships - The merger between QuantumScape and Kensington Capital Acquisition Corp highlights the trend of financial partnerships in the automotive industry to overcome the financial costs of developing solid-state batteries.
Industry Implications
1. Automotive - The automotive industry can benefit from the disruptive innovation opportunity presented by the merging of QuantumScape and Kensington Capital Acquisition Corp to produce solid-state batteries for eco-friendly vehicles.
2. Energy Storage - The energy storage industry has potential for disruptive innovation with the development of solid-state batteries for EVs through the merger of QuantumScape and Kensington Capital Acquisition Corp.
3. Battery Technology - The battery technology industry can explore disruptive innovation possibilities by leveraging the merger between QuantumScape and Kensington Capital Acquisition Corp to advance solid-state battery technology for various applications.
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