{ "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": 50, "pageCount": 188, "prevPage": 49, "nextPage": 51, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "overcrowded", "nDataPoints": 0, "notes": "Uses testimonial evidence to undermine the narrative of Quantumscape's market leadership.", "elementsJson": [ "headline_text", "paragraph", "quote_block" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-32b620517ee9/50", "deckHref": "/decks/019dd923-622c-750b-8b9a-32b620517ee9", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-32b620517ee9.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-32b620517ee9#slide-50", "components": [ { "bbox": null, "kind": "callout", "text": "A VW employee replied “Who knows” when we asked if it was a forgone conclusion that QS would be their solid-state battery supplier.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd952-f5d0-745c-beca-fc4243e82e3a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.9, "x": 0.05, "y": 0.08 }, "kind": "paragraph", "text": "As one might expect of a corporate partner that is ambivalent and noncommittal, both VW employees we consulted indicated that “a lot of players” in solid-state batteries are at parity or ahead of QS, based on VW “scouting results”; “who knows” if VW selects QS.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "15aa0afa-9d89-4835-81bb-36a5d6b8d3d9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.9, "x": 0.05, "y": 0.22 }, "kind": "paragraph", "text": "A VW employee replied “Who knows” when we asked if it was a forgone conclusion that QS would be their solid-state battery supplier.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d692e226-a7ff-4fbb-b426-a54bfefb308b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.9, "x": 0.05, "y": 0.51 }, "kind": "quote", "text": "“Solid Power and Quantumscape are close, frankly speaking, although it’s a different and not a purely apples-to-apples comparison of their chemistry, but I think they're quite close. Based on our scouting results they are close.” – VW employee", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3901a8b4-1086-4971-ae32-7e62103f4bb4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.9, "x": 0.05, "y": 0.31 }, "kind": "quote", "text": "“Solid State is at the same level or even further advanced than Quantumscape, I would say. When I spoke with [redacted], they also have the same opinions of Solid Power, that it’s at least on the same level as QuantumScape.... It’s a head-to-head race.’ – VW employee", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3d5695bb-a4e4-490d-8a49-a296f6e1aedb", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.9, "x": 0.05, "y": 0.61 }, "kind": "quote", "text": "Q: “Is it a forgone conclusion that Quantumscape is going to be the solid-state battery provider to Volkswagen? Or it's just who knows at this point?” A: “Who knows, I would say.” – VW employee", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "cfd99c6f-4cc8-4f40-859c-db2c6f97306f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.9, "x": 0.05, "y": 0.41 }, "kind": "quote", "text": "“There are quite a lot of players like QuantumScape, Solid Power and Solid Energy. I think SDI and Toyota are also on it. I think they're quite close from laboratory results. At this moment, only based on the laboratory results, I would say there's not a big difference.” – VW employee", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "dd0fca62-f39b-42dc-8985-5951a9d93f67", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“Solid State is at the same level or even further advanced than Quantumscape, I would say. When I spoke with [redacted], they also have the same opinions of Solid Power, that it’s at least on the same level as QuantumScape.... It’s a head-to-head race.” — VW employee; “There are quite a lot of players like QuantumScape, Solid Power and Solid Energy. I think SDI and Toyota are also on it. I think they’re quite close from laboratory results. At this moment, only based on the laboratory results, I would say there’s not a big difference.” — VW employee; “Solid Power and Quantumscape are close, frankly speaking, although it’s a different and not a purely apples-to-apples comparison of their chemistry, but I think they’re quite close. Based on our scouting results they are close.” — VW employee; “Who knows, I would say.” — VW employee", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd952-f5d0-745c-becb-001059c49a26", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.05, "y": 0.95 }, "kind": "source-note", "text": "Source: Scorpion Capital consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d41211b4-90c5-469e-9817-cf7eb74e0d32", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.55, "x": 0.05, "y": 0.04 }, "kind": "title", "text": "2) VW employees indicate internal skepticism of Quantumscape’s claims", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "108526f1-2aad-4ce5-bddd-335a93e1a6c9", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "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 }