Volkswagen-backed QuantumScape to go public via SPAC to bring solid-state batteries to EVs – TechCrunch

QuantumScape, the solid-state battery company backed by Volkswagen Group, has agreed to merge with a special purpose acquisition company Kensington Capital Acquisition as it aims to raise the capital it needs to commercialize solid-state batteries for electric vehicles. The merger will give Q…

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QuantumScape, the solid-state battery company backed by Volkswagen Group, has agreed to merge with a special purpose acquisition company Kensington Capital Acquisition Corp. as it aims to raise the capital it needs to commercialize solid-state batteries for electric vehicles.

QuantumScape joins what appears to be a seemingly endless line of venture-backed companies that have eschewed the traditional IPO path and instead opted to go public via a reverse merger with a SPAC, or blank-check company.   QuantumScape is also part of a smaller and notable group of electric vehicle-related companies that have announced plans to go public via a SPAC.

QuantumScape’s board is also loaded with notable investors and experts in the electric vehicle industry, notably former Tesla CTO and Redwood Materials founder JB Straubel, who called QuantumScape’s solid-state anode-less design “the most elegant architecture I’ve seen for a lithium-based battery system.

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