{ "docId": "019dd923-622c-750b-8b9a-32b620517ee9", "docSlug": "2ec39f20dd86", "documentTitle": "QuantumScape (QS)", "authorId": "58_Scorpion_Capital", "authorName": "Scorpion Capital", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-04-15 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 112, "pageCount": 188, "prevPage": 111, "nextPage": 113, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "overcrowded", "nDataPoints": 8, "notes": "Uses expert quotes to build a technical argument about the necessity of reporting Coulombic efficiency.", "elementsJson": [ "headline_text", "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-32b620517ee9/112", "deckHref": "/decks/019dd923-622c-750b-8b9a-32b620517ee9", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-32b620517ee9.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-32b620517ee9#slide-112", "components": [ { "bbox": null, "kind": "callout", "text": "Throughout Quantumscape’s entire presentation, we don’t see any Coulombic efficiency numbers. That’s a huge red flag.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd952-f5d1-75b6-b060-eb2f0735fa66", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.94, "x": 0.03, "y": 0.2 }, "kind": "paragraph", "text": "A solid-state expert explained that Coulombic efficiency (CE) is similar to a compound interest rate: if “you lose 1% each time” you cycle your battery, it can’t last more than 100 cycles. Therefore, very small percentage variations in CE – less than 1/10 of 1% - exert a massive effect on cycle life.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1da27e5b-56ad-49ac-9fde-355a4aee7821", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.92, "x": 0.05, "y": 0.55 }, "kind": "quote", "text": "“The Department of Energy’s Battery 500 Consortium took four years among 11 different scientists to raise the lithium coulombic efficiency from 90% to 99.6% and right now they’re struggling to go above 99.6%. 99.6% means that we can cycle something like 500 cycles. For 99.6% to 99.9%, we’re still ongoing. If your Coulombic efficiency is not 99.9% or close to that value, cycle numbers to 1000 are very unlikely in lithium metal cells.” – Solid-state expert", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1674a024-1ada-4708-9bdb-500ec4d34688", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.22, "w": 0.92, "x": 0.05, "y": 0.31 }, "kind": "quote", "text": "“For lithium-ion cells, one of the key things is the Coulombic efficiency number. Think of it like a compound interest rate, where if each time you cycle your battery and you lose 1% each time, your battery cannot last more than 100 cycles or 200 cycles. It's very easy to calculate. Today's lithium-ion batteries operate at close to 99.9% Coulombic efficiency and that enables us to go for a few hundred cycles. For cells working in the region of 3,000 cycles like [redacted] has shown, you need 99.95%, 99.96% [Coulombic efficiency]. So we’re very particular about Coulombic efficiency measurement. And throughout Quantumscape’s entire presentation, we don’t see any coulombic efficiency numbers. That’s a huge red flag.” – Solid-state expert", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "686b0752-f295-4538-9d0b-b427a4a43052", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "For lithium-ion cells, one of the key things is the Coulombic efficiency number. Think of it like a compound interest rate, where if each time you cycle your battery and you lose 1% each time, your battery cannot last more than 100 cycles or 200 cycles. It's very easy to calculate. Today's lithium-ion batteries operate at close to 99.9% Coulombic efficiency and that enables us to go for a few hundred cycles. For cells working in the region of 3,000 cycles like [redacted] has shown, you need 99.95%, 99.96% [Coulombic efficiency]. So we’re very particular about Coulombic efficiency measurement. And throughout Quantumscape’s entire presentation, we don’t see any coulombic efficiency numbers. That’s a huge red flag. — Solid-state expert; The Department of Energy’s Battery 500 Consortium took four years among 11 different scientists to raise the lithium coulombic efficiency from 90% to 99.6% and right now they’re struggling to go above 99.6%. 99.6% means that we can cycle something like 500 cycles. For 99.6% to 99.9%, we’re still ongoing. If your Coulombic efficiency is not 99.9% or close to that value, cycle numbers to 1000 are very unlikely in lithium metal cells. — Solid-state expert", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd952-f5d1-75b6-b060-ed000512ecde", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.25, "x": 0.03, "y": 0.75 }, "kind": "source-note", "text": "Source: Scorpion Capital consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e81b4dd4-3c53-444c-befa-2346e5526615", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.94, "x": 0.03, "y": 0.06 }, "kind": "title", "text": "Red flag 5: “Coulombic efficiency” is a basic, essential measure of cycle life. Leading expert: “throughout Quantumscape’s entire presentation, we don’t see any Coulombic efficiency numbers. That’s a huge red flag”; explains why small variations between 95-100% matter.", "attrs": null, "subkind": "action-title", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "042b68d8-213e-48e9-b302-cc04d283e3d7", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.35, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "3) Phony claim E: Battery life in low temperatures", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d78df129-db57-4b8e-a26b-cc4ec565b23a", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "ceo-quote-contradiction", "slug": null, "matchId": "32c97dba-44f8-4381-b3e7-a390024e8102", "evidence": "Uses expert quotes to contradict the company's presentation claims.", "confidence": 0.9 } ], "arcBeats": [ { "to": 150, "from": 7, "beatId": "bb56e2cc-71d0-4a88-adf5-a740e3b3215c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Critique of Quantumscape's claims and technology", "beatSlug": null, "evidence": "The document presents a detailed critique of Quantumscape's claims and technology.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 149, "from": 8, "beatId": "f51b8fe3-6117-425f-a2bb-d0457528eb59", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Exposure of contradictions and red flags in Quantumscape's data", "beatSlug": null, "evidence": "The document highlights multiple contradictions and red flags in Quantumscape's data.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }