While the QuantumScape results are impressive, they’re based on test results from individual layers, which still have to be stacked together to form a battery cell. Campbell said this suggests Solid Power could have a leg up when it comes to manufacturing.
“They still have a mountainous challenge in front of them, which is achieving production scale, which is not trivial,” he said. “And I can say that confidently because we just went through it.”
QuantumScape gained attention for its public offering earlier this year, which drew in $680 million. The company also counts Volkswagen and Bill Gates as investors. Meanwhile, just over $26 million in private investment has been sunk into Solid Power, according to the company. Sam Jaffe, a battery-industry analyst with Boulder-based Cairn Energy Research Advisors, acknowledged that’s a big difference, but it doesn’t mean QuantumScape has the better battery technology.
“It just means they’re good at fundraising,” he said.
Long term, Campbell doesn’t imagine the Louisville plant will build the actual batteries for the next generation of electric cars. The company has partnerships with automakers like Ford, BMW and Hyundai, which could apply what Solid Power learns in larger manufacturing plants. The batteries would also need to survive an arduous qualification process, which is why Campbell doesn't expect the technology in a vehicle until 2025 at the earliest.
Campbell does hope Colorado continues to become an “innovation hub” for the electric car industry. Since Solid Power launched in 2012, he has watched several other battery startups pop up along the Front Range.
“I can’t overemphasize how cool that is,” he said.
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