Which American Battery Company Did Bill Gates Invest In?

by Park Soyeon

Published 13 Dec.2020 10:15(KST)

[Image source=Yonhap News]

[Asia Economy Reporter Park Soyeon] QuantumScape, a US battery company, announced that the all-solid-state batteries they are developing can charge up to 80% of an electric vehicle battery's capacity within 15 minutes.

According to industry sources on the 13th, US CNBC reported on the 8th (local time) the experimental results of the all-solid-state batteries being developed by the company. QuantumScape explained that a single charge can enable driving for 300 miles (approximately 483 km) and that the typical lifespan reaches 12 years.

Considering that current electric vehicle batteries take about an hour to charge up to 80% with fast charging, this represents a significant reduction in charging time.

They also added that this battery performs well even in subzero temperatures.

The company's CEO, Jagdeep Singh, emphasized that unless electric vehicles match or surpass the performance of internal combustion engine vehicles, a major transformation in transportation will not occur.

He pointed out several issues with current electric vehicle batteries, including long charging times, high costs, short product lifespans, and fire risks associated with the use of liquid electrolytes.

All-solid-state batteries replace the liquid electrolyte between the anode and cathode inside the battery with a solid electrolyte, making them a next-generation battery technology attracting attention.

Currently, LG Energy Solution, Samsung SDI, China's CATL, and Japan's Panasonic are also developing all-solid-state batteries.

QuantumScape, known to have been established in 2010, was listed on the New York Stock Exchange last November through a merger with a Special Purpose Acquisition Company (SPAC).

Before going public, it also received investments from Volkswagen, Bill Gates, and others.