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  "documentTitle": "QuantumScape (QS)",
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  "authorName": "Scorpion Capital",
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      "text": "I would say that's almost certainly the case. It certainly was the case when I worked there. We built 300 cells a day, and a few of them were okay to test.",
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      "text": "Our research indicates that manufacturability is as much an unsolved and daunting problem as the science. To illustrate the mammoth difficulty in manufacturing solid-state cells, we note comments from ex-employees on the company’s inability to produce even small numbers of working cells reliably and consistently.",
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      "text": "Before we detail manufacturing/scaling obstacles in the next section, we level set where QS finds itself today. Three different former employees indicate that QS still struggles to produce a few lab prototypes that work: “We built 300 cells a day, a few of them were ok to test.”",
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      "text": "...In stark contrast to....",
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      "kind": "quote",
      "text": "Quantumscape’s recent bullish announcement about its scalability plans “QS-0 is intended to have a continuous flow, high automation line capable of building over 100,000 engineering cell samples per year. We expect to secure a long-term lease for a second building with approximately two hundred thousand square feet in the second half of this year and for QS-0 to be producing cells by 2023.” – Letter to Shareholders, 2/16/21",
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      "text": "A former employee noted the grim reality about the company’s ability to even make a few samples that “were okay to test” Q: “What about repeatability? Did they make 20 cells and found one where they could do this?” A: “I would say that's almost certainly the case. It certainly was the case when I worked there. We built 300 cells a day, and a few of them were okay to test.” – Former employee",
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      "text": "“I would say that's almost certainly the case. It certainly was the case when I worked there. We built 300 cells a day, and a few of them were okay to test.” — Former employee; “QS-0 is intended to have a continuous flow, high automation line capable of building over 100,000 engineering cell samples per year. We expect to secure a long-term lease for a second building with approximately two hundred thousand square feet in the second half of this year and for QS-0 to be producing cells by 2023.” — Letter to Shareholders, 2/16/21",
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      "text": "Source: Scorpion Capital consultation calls with experts; https://s26.q4cdn.com/263384136/files/doc_financials/2020/q4/QS-Shareholder-Letter-Q4-2020.pdf",
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      "kind": "title",
      "text": "5) Quantumscape can't even reliably make TEST cells that work, we believe",
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