QuantumScape

Its cells replace the graphite anode with lithium metal formed in place and use a ceramic separator to block the dendrites that normally kill such cells. The flagship QSE-5 B-sample delivers 844 Wh/L and 301 Wh/kg with sub-15-minute fast charging. The company remains pre-revenue on cells: Cobra entered baseline production in June 2025, B1 samples began shipping in October 2025, and the San Jose Eagle pilot line, opened February 2026, is running above 90% core-tool uptime while still targeting doubled cell output in the second half of 2026. Volkswagen's PowerCo holds rights to produce up to 85 GWh of QSE-5 cells a year, with start of production targeted for 2029, after a July 2026 amendment cut potential milestone payments from $131M to up to $75.4M. Honda signed a multi-year research agreement in June 2026; two further top-10 automakers plus Murata and Corning remain partners. Liquidity was $859M at June 30, 2026, with 2026 adjusted EBITDA-loss guidance of $250M to $275M. On Oct. 8, 2026 the company introduced QS PowerBlock, a modular in-rack reference design for 800VDC AI data-center storage to be shown at the Oct. 12-15 OCP Global Summit in Megmeet booth C19; it has not named a paying PowerBlock customer, integrator, or volume offtake. Q3 2026 results are due after the close on Oct. 21. Shares closed $4.58 on Oct. 8, a market cap of about $2.84B.

quantumscape.com↗Updated Oct 9, 2026

1. Oct 82026

   QuantumScape introduces QS PowerBlock for AI racks

   QuantumScape introduced the QS PowerBlock on Oct. 8, 2026 as a modular solid-state lithium-metal reference design for in-rack AI data-center storage, including 800VDC formats. The company said prototype tests and modeled configurations showed 4x power density and 5x runtime versus the OCP Open Rack V3 spec, and thermal stability above 300 C versus about 180 C for a conventional lithium-ion reference; it said final performance depends on product design and real-world conditions. QuantumScape said it joined OCP and will show the design at the Oct. 12-15 OCP Global Summit; customer talks are company-described and no commercial deployment was announced.

   www.globenewswire.com ↗www.globenewswire.com ↗www.axios.com ↗

2. Jul 292026

   QuantumScape signs Honda battery deal alongside Q2 results

   QuantumScape reported second-quarter 2026 results on July 22, posting a GAAP net loss of $98.2 million, or $0.16 per share, narrower than analysts expected, and reaffirmed full-year adjusted EBITDA loss guidance of $250 million to $275 million. The company disclosed a new multi-year joint research agreement with Honda R&D to develop QuantumScape's solid-state lithium metal battery technology for automotive and other applications, following what it described as a demanding technical evaluation by Honda. Shares still fell after QuantumScape separately said the maximum potential payments under its existing Volkswagen PowerCo licensing deal dropped from $131 million to $75 million.

   Benzinga ↗QuantumScape 8-K (StockTitan) ↗

• 

  In Development

  QSE-5 Solid-State Cell

  QuantumScape's flagship cell: an anode-free lithium-metal design in which the lithium anode forms in place on first charge, paired with a ceramic solid-state separator that blocks dendrites and an organic catholyte around the cathode. The B-sample measures 844 Wh/L and 301 Wh/kg with charging from 10% to 80% in under 15 minutes, at 21.6 Wh per cell in an 84.5 x 65.6 x 4.6 mm format. Cells are produced with the proprietary Cobra separator process, which entered baseline production in June 2025.

  Volumetric energy density

  844 Wh/L (B-sample)

  Gravimetric energy density

  301 Wh/kg (B-sample)

• In Development

  QS PowerBlock

  Modular solid-state lithium-metal battery reference design for in-rack AI data-center energy storage, including 800VDC architectures and module, shelf, and rack formats. QuantumScape said Oct. 8, 2026 that prototype tests and modeled configurations showed 4x power density and 5x runtime versus the OCP Open Rack V3 specification, with thermal stability above 300 C in third-party and customer tests versus about 180 C for a conventional lithium-ion reference. The company said it joined OCP and will display the design at the Oct. 12-15 2026 OCP Global Summit. Customer talks are company-described; no commercial order was disclosed.

Employees

~700

Est. annual revenue

Pre-revenue on cell sales

Non-revenue customer billings reached $10.8M in Q2 2026 and $21.8M year to date, already exceeding the whole of 2025. Q3 2026 results are not yet out; financial calendars list the next report around October 21, 2026.

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QSE-5 B-sample energy density

844 Wh/L and 301 Wh/kg, with sub-15-minute fast charge

Q2 2026 net loss

$98.2M

($0.16/share), down ~14% YoY; adjusted EBITDA loss $64.2M

Liquidity

$859M

($132.9M cash, $726.1M marketable securities) at June 30, 2026

2026 guidance

Adjusted EBITDA loss of $250M-$275M

capex lowered to $27M-$37M

Customer billings

$10.8M in Q2 2026

$21.8M year to date, already above the 2025 full-year total

PowerCo licensed capacity

Up to 85 GWh a year of QSE-5 cells

(40 GWh initial, option to 80 GWh, plus 5 GWh added in the July 17, 2025 amendment including sales outside Volkswagen Group). The July 16, 2026 amendment reset milestones and cut program payments to up to $75.4M but did not change licensed capacity. Start of production reaffirmed for 2029.

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Named partners

QSEV: Volkswagen PowerCo, Honda R&D, two further top-10 automakers, plus Murata and Corning on ceramic separators. QSAS (aerospace and defense): has shipped QSE-5 cells to an undisclosed major American defense prime.

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Cumulative customer billings (as of Aug 2026)

$40M in cumulative customer billings disclosed by CFO Kevin Hettrich at the Aug 12, 2026 J.P. Morgan Automotive Conference, as commercial engagement scales ahead of first production

Share price / market cap (Oct. 8, 2026)

$4.58 close; market cap about $2.84B

Named QS PowerBlock customers

None disclosed as of Oct. 9, 2026

How past announced dates turned out.

$1.5Bdisclosed across 4 rounds with a stated amount