QuantumScape Convenes Solid-State Battery Leaders in Japan to Shape Future of Energy Storage

QuantumScape Corporation (NYSE: QS), a leader in next-generation solid-state lithium-metal battery technology, yesterday gathered distinguished representatives, including battery equipment and materials suppliers, government leaders and automotive customers to discuss and strengthen the solid-state battery ecosystem. The Solid-State Batteries Symposium highlighted the critical role this next-generation technology plays in driving future energy storage solutions for the automotive industry.

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Satoshi Nohara, Director General of Japan’s Ministry of Economy, Trade and Industry, at the Solid-State Batteries Symposium (Photo: Business Wire)

The Symposium featured remarks from the Honorable Koji Matsui, Mayor of Kyoto, Satoshi Nohara, Director General of Japan’s Ministry of Economy, Trade and Industry (METI), along with QuantumScape CEO Dr. Siva Sivaram, and other industry experts.

“Kyoto City has been committed to fostering innovation in the environmental and energy sectors by harnessing the wealth of knowledge concentrated in companies, universities, and other institutions, with the goal of achieving a sustainable future,” said the Honorable Koji Matsui, Mayor of Kyoto. “We have high expectations for QuantumScape Corporation, a frontrunner to the research and development of solid-state batteries—an essential technology for next-generation electric vehicles—to pioneer groundbreaking innovations here in Kyoto. Kyoto City will continue its efforts to support startups, foster business development, and attract diverse array of talent and companies from across Japan and the globe, driving innovation at an accelerated pace.”

Satoshi Nohara, Director General of METI, added: “The all-solid-state battery is a game-changing technology that has the potential to significantly surpass the performance of conventional lithium-ion batteries. In the Battery Industry Strategy, Japan has set a target of commercializing all-solid-state batteries by around 2030, and the public and private sectors are working together to achieve this target. It is highly meaningful that various members from both sectors met at the symposium to share and discuss engagement in the practical application of all-solid-state batteries. This reflects Japan’s continued commitment to taking a technological leadership role in deepening global collaboration in this field.”

“Japan has a rich history of battery innovation and QuantumScape is leading efforts to develop and commercialize solid-state batteries,” said Dr. Siva Sivaram. “It was an honor to join so many Japanese leaders to discuss how we can use the country’s excellence in battery science and the supply chain network to accelerate progress toward a cleaner, more efficient future.”

Batteries are at the heart of the transportation revolution, but today’s conventional lithium-ion batteries fall short of meeting the needs of the automotive sector in several key areas, limiting their performance. QuantumScape’s solid-state lithium-metal batteries are designed to charge faster, provide longer range, and operate more safely than their lithium-ion counterparts. QuantumScape opened an office in Kyoto, Japan in 2022 and has collaborated with battery tool manufacturers and materials suppliers across the Asia-Pacific region for many years.

About QuantumScape Corporation

QuantumScape is on a mission to revolutionize energy storage to enable a sustainable future. The company’s next-generation solid-state lithium-metal battery technology is designed to enable greater energy density, faster charging and enhanced safety to support the transition away from legacy energy sources toward a lower carbon future. For more information, visit www.quantumscape.com.

Forward-Looking Statements

Certain information in this press release may be considered “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements regarding QuantumScape’s plans and objectives for future operations and growth, including internationally the performance of its technology and its applications, and the potential impacts of QuantumScape’s technology, among others. These forward-looking statements are based on QuantumScape management’s current expectations, assumptions, hopes, beliefs, intentions and strategies regarding future events and are based on currently available information as to the outcome and timing of future events. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in the forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements, including due to the building out of high volume processes and otherwise to achieve scale, the achievement of the quality, consistency, reliability, safety, cost and throughput required for commercial production and sale, changes in economic and financial conditions, and other factors, including those discussed in the section titled “Risk Factors” in QuantumScape’s Annual Report and Quarterly Reports and other documents filed with the Securities and Exchange Commission from time to time. Except as otherwise required by applicable law, the company disclaims any duty to update any forward-looking statements.

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