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  "documentTitle": "QuantumScape (QS)",
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  "authorName": "Scorpion Capital",
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  "presentationDate": "2021-04-15 00:00:00",
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  "notes": "The slide uses a Q&A format to frame the company's data as a 'common trick' by highlighting the difference between percentage-based charging and absolute energy capacity.",
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      "text": "I would ask them to plot two different graphs - what's the actual capacity you've charged within 15 minutes? What's the absolute number in terms of watt-hours?",
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      "text": "A leading solid state battery researcher estimates that the single-layer pouch cell QS shows is less than 200 milliwatt-hours (mwh) – which is at the level of a hearing aid and a only a small fraction of a standard AA-battery sized rechargeable lithium ion cell (“18650”).",
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      "text": "Leading solid state battery researcher explains the “common trick” that the QS chart is using \"Notice the Y-axis is state of charge. It's a percentage, a ratio. Let me give you an example. A lithium-ion 18650 cell is 3.5 amp hour, with a nominal voltage of 3.6V. At 100% state of charge, these cells are rated at more than 10-watt hours. For the Quantumscape single-layer pouch cell, I bet that capacity is less than 200 milliwatt hour, which is at least 10 times less than the 18650 lithium-ion cell. The Quantumscape data is particularly impractical because their denominator is much, much smaller. They didn't really say what it is. The data they have is in terms of a state of charge percentage. I would ask them to plot two different graphs - what's the actual capacity you've charged within 15 minutes? What's the absolute number in terms of watt-hours?\"",
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      "text": "Our Q&A with the researcher explains that it’s meaningless to compare 80% charge time on a tiny, lab-scale sample cell with a commercial lithium ion cell with high energy density",
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      "text": "Q: \"You're saying they're getting to 80% charge, but the total amount of charge is meaninglessly small?\" A: \"That would be my guess. It's a common trick, unfortunately. When you compare lab-scale data to larger-scale like 18650 cells, it's not fair because 18650 cells deliver more than 10-watt hours now.\" Q: \"You're saying the Quantumscape cell is probably less than 10% of the capacity of a Li-ion 18650 cell?\" A: \"Yes, I am almost certain that's what happened\"",
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      "text": "“Notice the Y-axis is state of charge. It's a percentage, a ratio. Let me give you an example. A lithium-ion 18650 cell is 3.5 amp hour, with a nominal voltage of 3.6V. At 100% state of charge, these cells are rated at more than 10-watt hours. For the Quantumscape single-layer pouch cell, I bet that capacity is less than 200 milliwatt hour, which is at least 10 times less than the 18650 cell. The Quantumscape data is particularly impractical because their denominator is much, much smaller.” — Leading solid state battery researcher",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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      "text": "Red flag 2 (cont’d): Battery experts call QS fast charge chart “a common trick” – fast charge is meaningless if the battery has virtually no energy",
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