QuantumScape reported a Q2 2024 net loss of $123.0 million, with operating expenses of $134.5 million driven by increased research and development costs. Revenue remained at zero as the company continues development of its solid-state battery technology. Cash and marketable securities stood at $937.9 million as of June 30, 2024.The company made progress in its battery development efforts, focusing on improving prototype cell quality, consistency and manufacturing processes at its QS-0 pre-pilot facility. Research and development expenses increased 13% year-over-year to $97.7 million, reflecting higher personnel costs and material supplies to support technology advancement.On July 5, 2024, QuantumScape entered into a collaboration agreement with PowerCo SE, Volkswagen's battery company, to industrialize its QSE-5 solid-state battery technology. The agreement includes potential licensing arrangements and validates the company's development progress, though significant technical and manufacturing challenges remain before commercial production.

QuantumScape reported a Q2 2024 net loss of $123.0 million, with operating expenses of $134.5 million driven by increased research and development costs. Revenue remained at zero as the company continues development of its solid-state battery technology. Cash and marketable securities stood at $937.9 million as of June 30, 2024.The company made progress in its battery development efforts, focusing on improving prototype cell quality, consistency and manufacturing processes at its QS-0 pre-pilot facility. Research and development expenses increased 13% year-over-year to $97.7 million, reflecting higher personnel costs and material supplies to support technology advancement.On July 5, 2024, QuantumScape entered into a collaboration agreement with PowerCo SE, Volkswagen's battery company, to industrialize its QSE-5 solid-state battery technology. The agreement includes potential licensing arrangements and validates the company's development progress, though significant technical and manufacturing challenges remain before commercial production.