QuantumScape(QS) - 2025 Q1 - Quarterly Results

Exhibit 99.1 Q1 FISCAL 2025 LETTER TO SHAREHOLDERS April 23, 2025 Launch Program Update We continue to work closely with our prospective launch customer. As a reminder, this launch program is designed to be a low-volume but high-visibility project. It is intended to serve as a real-world vehicle demonstration, highlighting the exceptional performance characteristics of our technology platform as a step toward large-scale commercialization. The program is planned to unfold over multiple phases, with field te ...