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Get filing alertsQuantumScape restructures PowerCo collaboration to milestone payments, caps total at $75.4M
Filed July 22, 2026 · Period ending July 16, 2026 · ~1 min read
Key Changes
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Amended PowerCo collaboration shifts from cost reimbursement to milestone-based payments tied to automotive cell development, larger format cells, and technology roadmap over next two years.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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Maximum aggregate payment from PowerCo capped at $75.4M inclusive of amounts already received, establishing financial ceiling for the program.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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Terminated Statement of Work No. 1 effective July 16, 2026, replaced by amended terms; outstanding invoiced obligations remain payable.
Item 1.02 — Termination of a Material Definitive Agreement verify on EDGAR →
Summary
QuantumScape restructured its collaboration with PowerCo, the Volkswagen Group battery subsidiary and major investor, moving from a cost-reimbursement model to milestone-based payments. The amended agreement focuses on automotive cell development, larger format cells, and the company's technology roadmap, with milestones tied to battery cell delivery and validation over the next two years. The $75.4 million payment cap includes amounts already received, establishing the total financial scope of the program.
For retail holders, the shift to milestone payments introduces execution risk—QuantumScape must now hit specific technical and delivery targets to receive funding, rather than recovering costs as incurred. The $75.The amendment reflects PowerCo's continued engagement but on more performance-contingent terms, tying QuantumScape's near-term revenue visibility to its ability to deliver validated cells and advance larger formats over the next 24 months.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
Item 1.01 — Entry into a Material Definitive Agreement filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On July 16, 2026, QuantumScape Battery, Inc. (“QS”), a wholly owned subsidiary of QuantumScape Corporation (the “Company”), entered into an amendment (the “Amendment”) to the Amended and Restated Collaboration Agreement, dated as of July 17, 2025 (the “Collaboration Agreement”), with PowerCo SE (“PowerCo”), a battery cell company wholly owned by the Volkswagen Group, a major investor in the Company.
QuantumScape amended its collaboration agreement with PowerCo, a Volkswagen Group battery subsidiary and major investor. The amendment updates the structure of their joint development program for QSE-5 battery technology.
Added in current filing · verify on EDGAR →
Under the Amendment, the maximum aggregate amount the Company will receive from PowerCo for the program is $75.4 million, inclusive of amounts paid to date.
The amended agreement caps total payments from PowerCo at $75.4 million, including amounts already received. This establishes the financial ceiling for the collaboration program under the new milestone structure.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 23, 2026 · How we verify