QuantumScape Expands to Asia-Pacific Region With New R&D Center in Japan

SAN JOSE, Calif.–(BUSINESS WIRE)–QuantumScape Corporation (NYSE: QS), a leader in developing next-generation solid-state lithium-metal batteries for use in electric vehicles, today announced its expansion into the Asia-Pacific region with an office in Kyoto, Japan. The new property will feature a state-of-the-art laboratory for battery research and development.

QuantumScape is developing solid-state lithium-metal battery technology that is designed to deliver a combination of high energy density, or driving range, coupled with fast charging capabilities that are difficult to achieve with conventional lithium-ion battery chemistries. The company has a close partnership with Volkswagen Group and has established agreements with two other major global automakers.

“For decades, Japan has maintained a worldwide reputation for excellence in battery science, development and manufacturing,” said Jagdeep Singh, CEO and co-founder of QuantumScape. “Local access to some of the most experienced battery scientists and collaboration with leading suppliers and research institutes, combined with the growing demand for battery electric vehicles throughout Asian markets, are compelling reasons for QuantumScape to open our first office in Japan.”

Headquartered in San Jose, California, QuantumScape has worked with automotive original equipment manufacturers (OEMs) and tools and materials suppliers across the Asia-Pacific region for several years. As the company’s first regional footprint, the office will serve core functions, including materials and equipment evaluation and improving collaboration with regional partners.

QuantumScape has started building a team of engineers and scientists and is actively hiring for a number of open positions (www.quantumscape.com/careers). The R&D center is located in the Kyoto Research Park in Kyoto. The labs are expected to be operational later this year.

About QuantumScape Corporation

QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. The company is on a mission to revolutionize energy storage to enable a sustainable future. For more information, please visit www.quantumscape.com.

Forward-Looking Statements

The information in this press release includes a “forward-looking statement” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, including, without limitation, regarding the development, timeline and performance of QuantumScape’s products and technology are forward-looking statements.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside QuantumScape’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to the following: (i) QuantumScape faces significant barriers in its attempts to scale and complete development of its solid-state battery cell and related manufacturing processes, and development may not be successful, (ii) QuantumScape may encounter substantial delays in the development, manufacture, regulatory approval, and launch of QuantumScape solid-state battery cells and building out of its manufacturing facilities, which could prevent QuantumScape from commercializing products on a timely basis, if at all, and (iii) QuantumScape may be unable to adequately control the costs of manufacturing its solid-state separator and battery cells. QuantumScape cautions that the foregoing list of factors is not exclusive. Additional information about factors that could materially affect QuantumScape is set forth under the “Risk Factors” section in the QuantumScape’s Annual Report on Form 10-Q filed with the Securities and Exchange Commission on October 28, 2021, and available on the SEC’s website at www.sec.gov.

Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Should underlying assumptions prove incorrect, actual results and projections could different materially from those expressed in any forward-looking statements.

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