QuantumScape amends PowerCo collaboration; $75.4M milestone-based payments

QuantumScape Corp

Amendment replaces prior SOW-1 with SOW-2; milestones focus on automotive cell development and larger format cells.
Maximum aggregate payments from PowerCo of $75.4M, inclusive of amounts paid to date, based on milestone achievement.
PowerCo may produce up to 500 MWh of QS battery cells for demonstration fleet at its discretion.
Prior SOW-1 terminated; outstanding invoices to PowerCo remain due.

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