QuantumScape Corporation (NYSE:QS), a leader in the development of solid-state lithium-metal batteries, today released data showing its battery cells have completed 400 consecutive 15-minute fast-charging (4C) cycles from 10% to 80% of the cell's capacity while retaining well above 80% of the initial energy – a first for this type of battery technology. QuantumScape conducted the tests on commercially relevant sized single-layer prototype battery cells at multiple temperatures (25 °C and 45 °C), 3.4 atmospheres of pressure and 100% depth of discharge.

Internal combustion engine vehicles can be refueled in about 5 minutes, whereas today's leading lithium-ion electric vehicle (EV) batteries typically need around 30 minutes to fast charge from 10% to 80% capacity at a rate that doesn't reduce the battery's lifetime. This longer charge time prevents EVs from providing the same user experience as internal combustion engine vehicles. If QuantumScape can successfully deliver today's demonstrated capability into the marketplace, the time difference between recharging EVs and refueling their combustion-engine counterparts will be only several minutes, which could help enable broader EV adoption.

The materials used in today's EV batteries, such as the graphite in the anode, have physics-based rate limitations that can cause permanent damage when charged repeatedly at fast rates, reducing the range the vehicle can travel. This can put EV drivers in the position to choose between the convenience of fast charging and preserving their battery range. QuantumScape tested battery cells from a commercially available third-party EV with the same protocol and found that those third-party cells rapidly degrade after only a few dozen charge cycles.

QuantumScape's lithium-metal battery cells retained more than 80% of their initial energy after 400 cycles of 15-minute (4C) fast charge between a 10% and 80% state of charge. For a vehicle with 400 miles of range, 400 cycles represent approximately 160,000 total driving miles.

"We believe QuantumScape's lithium-metal technology provides a pathway to significantly improved fast-charging performance in EVs," said Jagdeep Singh, co-founder and CEO of QuantumScape. "We believe innovations like this are crucial to narrowing the performance gap between EVs and combustion-engine based vehicles, and represent the future of the electrified transportation sector."

QuantumScape's fast-charging results are detailed in this new white paper and will be presented at a live webinar today, commencing at 9:30 am PST.

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 in achieving the quality, consistency and throughput required for commercial production and scale, (ii) QuantumScape may encounter substantial delays in the development, manufacture, regulatory approval, and launch of QuantumScape solid-state battery cells and building out of 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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