QuantumScape(QS) - 2024 Q2 - Quarterly Results

Dear shareholders, PowerCo Agreement On July 11, we announced a landmark agreement with PowerCo, the battery company of the Volkswagen Group. This deal reflects the value created by consistent execution on our development roadmap and customer validation of our technology. We forecast that this capital-light licensing arrangement lengthens our cash runway into 2028, an extension of 18 months relative to our previous guidance. The deal consists of two major elements. First, it creates a dedicated and co-locat ...