QuantumScape Corporation, a leader in next-generation solid-state lithium-metal battery technology, announced the appointment of current President, Dr. Siva Sivaram, as CEO and as a member of the board of directors, effective February 15, 2024. Co-founder and CEO Jagdeep Singh will continue to serve as Chairman of the Board of Directors.
Dr. Sivaram, a semiconductor and data storage industry veteran, joined QuantumScape as President in September 2023. He joined from Western Digital Corp., where he also served as President, leading corporate strategy and technology. His deep technical acumen and decades of experience taking complex emerging technologies into high-volume production, building factories, establishing partnerships and scaling manufacturing worldwide made him a natural fit for the role.
Over the last year, the company achieved several important milestones that set the foundation for future growth. QuantumScape’s best-performing A0 prototype cell achieved more than 1,000 full cycle equivalents with 95% discharge energy retention in testing at PowerCo’s labs. The company made key improvements to the components and processes necessary to transition from prototype to product, bolstered the balance sheet with a follow-on offering, strengthened relationships with OEM partners, and announced the first planned commercial product, QSE-5. Mr. Singh initiated the succession planning process in consultation with the board early last year, seeking to recruit a leader with extensive experience in manufacturing sophisticated technology products, to help lead QuantumScape’s efforts through the next phase of its growth.
“Founding QuantumScape has been the highlight of my career. I profoundly believe in the mission and the success of this company and team, and we are closer than ever to having a real impact on the automotive industry,” said Mr. Singh. “Siva immediately impressed the team after coming on as President with his operational skills, strategic vision and ability to drive results. Siva is the right leader at the right time to take on the challenge of bringing the company’s technology into high-volume production. I look forward to our continued work together to bring QuantumScape’s solid-state lithium-metal batteries to market.”
“As I step into this new role, I’m energized by the remarkable opportunity that QuantumScape has to shape an entire industry,” said Dr. Sivaram, QuantumScape president and CEO. “QuantumScape’s exceptional technology, large addressable market, customer demand and brilliant and motivated team have set us up with the potential to have a tremendous impact on the automotive industry and the broader world. A lot of work remains to be done and it will not be without challenges and I’m honored to be entrusted with this responsibility. I am determined to see us achieve our ambitious vision.”
“Since joining QuantumScape, Siva has been an excellent collaborator; his experience with global manufacturing is already proving instrumental in establishing a strong platform from which we’ll build future full-scale commercial growth,” said Frank Blome, CEO of PowerCo and QuantumScape board member. “We thank Jagdeep for his tremendous leadership from the founding of QuantumScape through all the industry-leading achievements during his tenure as the CEO. He has been a great partner for the Volkswagen Group and PowerCo and I look forward to his continued leadership as Chairman of the board.”
“Jagdeep has always had a compelling vision for the company and a passion to tackle the hardest and most important challenges. He assembled a world-class team and together we have made some groundbreaking scientific and engineering advancements in lithium metal batteries,” said Tim Holme, co-founder and CTO of QuantumScape. “I believe that Siva’s experience in scaling and manufacturing products at high volume with exacting quality standards will build on our momentum and lead us through the next phase.”
SOURCE : BusinessWire