Freshfields advises Volkswagen Group on its Series F investment in QuantumScape Corporation and in related joint venture arrangementsFreshfields is advising the Volkswagen Group of America, Inc. (“Volkswagen”) on its Series F investment of up to $200 million in QuantumScape Corporation (“QuantumScape”), a California-based corporation focused on the development of solid-state battery technology, and in related joint venture arrangements with QuantumScape.
Volkswagen is leading QuantumScape’s Series F financing round after participating in several of its prior rounds, most recently QuantumScape’s Series E round in 2018. In connection with the Series E round, Volkswagen and QuantumScape entered into certain joint venture arrangements that provide a road map to industrial-level production of solid-state batteries. Plans for a pilot plant are expected to be firmed up by the joint venture partners during the course of this year.
The first tranche of Volkswagen’s Series F investment is expected to close in the fourth quarter of 2020.
The Freshfields team is led by New York M&A partners Peter Lyons and Paul Tiger, supported by senior associate Olaf Ehlers and associates Paul Gray and Annie Powderly. Partner Mena Kaplan and associate Marissa Yu are providing IP advice. Claude Stansbury is providing tax advice.
Read Volkswagen’s full statement here.
Notes to editors:
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