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Freshfields advises Volkswagen Group on its Series F investment in QuantumScape Corporation and in related joint venture arrangements

Freshfields 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:

About Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP is a global law firm with a long-standing track record of successfully supporting the world's leading national and multinational corporations, financial institutions and governments on groundbreaking and business-critical mandates. Our 2,800-plus lawyers deliver results worldwide through our own offices and alongside leading local firms. Our commitment, local and multinational expertise, and business know-how means our clients rely on us when it matters most.

For more information contact:

Nicholle Romero
+1 212 284 4987

Elliott Frieder
+1 212 230 4664