QuantumScape Corporation. (NYSE:QS) Q1 2024 Earnings Conference Call April 24, 2024 5:00 PM ET
Company Participants
John Saager - Vice President of Capital Markets and FP&A
Siva Sivaram - CEO
Kevin Hettrich - CFO
Conference Call Participants
Jordan Levy - Truist Securities
Operator
Good day and welcome to QuantumScape's First Quarter 2024 Earnings Conference Call. John Saager, QuantumScape's Vice President of Capital Markets and FP&A, you may begin your conference.
John Saager
Thank you, operator. Good afternoon and thank you to everyone for joining QuantumScapes's first quarter 2024 earnings call. To supplement today's discussion, please go to our IR website at ir.quantumscape.com to view our shareholder letter.
Before we begin, I want to call your attention to the Safe Harbor provision for forward-looking statements that is posted on our website as part of our quarterly update. Forward-looking statements generally relate to future events, future technology progress, or future financial or operating performance.
Our expectations and beliefs regarding these matters may not materialize. Actual results and financial periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. There are risk factors that may cause actual results to differ materially from the content of our forward-looking statements for the reasons that we cite in our shareholder letter, Form 10-K and other SEC filings, including uncertainties posed by the difficulty in predicting future outcomes.
Joining us today will be QuantumScape's CEO, Dr. Siva Sivaram and our CFO, Kevin Hettrich.
With that, I'd like to turn the call over to Siva.
Siva Sivaram
Thank you, John. At the beginning of this year, we laid out four key goals for 2024 to help investors follow our progress as we move from prototype to product. Begin shipment of Alpha-2 prototype battery cells, ramp our Raptor fast separator production process, begin low-volume B0 prototype production of our first commercial product, QSE-5, and prepare our Cobra process to support higher volumes of QSE-5 in 2025.
We announced on March 27 that we started shipments of six-layer Alpha-2 prototype battery cells to automotive customers, which is the first of our four key goals for 2024. This is a key deliverable in our engagement with our prospective launch customer. The Alpha-2 prototype combined higher-loading cathodes with our FlexFrame cell format and improvements to packaging efficiency: tighter internal margins, thinner current collectors and a slimmer design. Alpha-2 is important because, when combined with Raptor films and other refinements and incorporated into a approximately 5 amp hour design, it represents the core of QSE-5.