QuantumScape Corporation (NYSE:QS) Q3 2024 Earnings Conference Call October 23, 2024 5:00 PM ET

Company Participants

John Saager - Vice President, Capital Markets and FP&A
Siva Sivaram - Chief Executive Officer
Kevin Hettrich - Chief Financial Officer

Conference Call Participants

Gabriel Gonzales - UBS
Henry Roberts - Truist Securities
Winnie Dong - Deutsche Bank
Ben Kallo - Baird
Mark Shooter - William Blair

Operator

Good day, and welcome to QuantumScape's Third 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 QuantumScape's Third 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 in 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 statement 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. I'd like to begin by discussing the most significant achievement in our Company's history. We are excited to report that we have begun producing low volumes of our first B Sample cells, accomplishing our most important goal for 2024 and we have begun shipping these cells for automotive customer testing. These are B Samples of QuantumScape's first product QSE-5, with measured energy density of 844 watt hours per liter, capable of fast charging from 10% to 80% in just over 12 minutes. QSE-5 represents an important milestone for our Company and the Battery Industry as a whole. These cells are, to the best of our knowledge, the first anode-free solid-state-lithium metal cell design ever produced for next-generation automotive applications. This cell is capable of simultaneously delivering exceptional performance with respect to energy density, discharge power, charging speed, low temperature performance, and safety. This milestone marks a new stage of rigorous development and production efforts.