Announced
Completed
Financials
Tags
Electronic Components and Equipment
Domestic
Single Bidder
Acquisition
Majority
Merger
Reverse Takeover
Friendly
Private
lithium-ion batteries
batteries
United States
Completed
De-SPAC
Private Equity
Synopsis
Kensington Capital Acquisition, a special purpose acquisition company, completed the merge with QuantumScape, an American company that produces lithium batteries that are used in electric cars, in a $3.3bn deal. "Today marks a big step in the evolution of our company. This transaction allows QuantumScape to fund development and commercialization of our OEM-validated battery technology as we look forward to playing our part in the electrification of the automotive powertrain, helping transform one of the world's largest industries and fostering a cleaner future for all," Jagdeep Singh, QuantumScape Founder and Chief Executive Officer.
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