Quantumscape Acquires Buildings for San Jose Campus

<p><strong>SAN JOSE<&sol;strong> &&num;8212&semi; QuantumScape Corporation&comma; maker of lithium batteries for electric vehicles&comma; is building a new QS Campus – the future hub of its upcoming manufacturing activities – after securing a new set of buildings in San Jose&period; The new campus comprises the current site of QS-0&comma; QuantumScape’s pre-pilot production line&comma; and the adjacent three new buildings&period;<&sol;p>&NewLine;<p>QS Campus is a key building block of QuantumScape’s multi-year strategic growth plan as it advances closer to commercializing its solid-state lithium-metal battery technology&period;<&sol;p>&NewLine;<p>Much of the new space will be dedicated to manufacturing&comma; ultimately expanding the footprint and overall capacities of its existing QS-0 and development buildings&comma; and affords QuantumScape the necessary space to scale up manufacturing and execute on its development timeline&period; The company has confirmed 10-year lease agreements for the three new buildings of QS Campus&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;As we shift into the next phase of our growth trajectory&comma; developing advanced manufacturing capabilities becomes more critical&period; To achieve our goals&comma; we believe we must make progress on both development and manufacturing simultaneously&comma;” said Jagdeep Singh&comma; co-founder and CEO of QuantumScape&period; &OpenCurlyDoubleQuote;This new campus provides us with an opportunity to continue our ground-breaking innovation while laying the foundation for scaling up those innovations into production&period;”<&sol;p>&NewLine;<p>QuantumScape’s new facilities will also house additional research and development and office space to accommodate hundreds of new employees&period; The company plans to continue aggressive hiring of world-class talent through 2022 and beyond&period; The campus is designed to encourage more natural opportunities for employees to collaborate across departments and functions&period; This prime location in San Jose – in the heart of Silicon Valley&comma; near world-renowned universities and research institutions – offers access to a rich pool of talent for the company to build out its team&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;As the capital of Silicon Valley&comma; San Jose continues to welcome the growth of innovative tech leaders like QuantumScape&comma;&&num;8221&semi; said San Jose Mayor Sam Liccardo&period; &&num;8220&semi;We are thrilled to see QuantumScape’s investment in our community and their commitment to bringing advanced battery development and local manufacturing jobs to North San Jose&period;”<&sol;p>&NewLine;<p>The company will take possession of the new buildings and begin outfitting the facilities for specific purposes starting in January 2022&period; QuantumScape has been based in San Jose since its founding in 2010&period; The new site in North San Jose is minutes from its current location&comma; which will retain its central role in the company’s research and development activities&period;<&sol;p>&NewLine;