June 16, 2020 / 10:33 AM / 21 days ago

Volkswagen invests extra $200 million in U.S. battery company QuantumScape

FILE PHOTO: A general view of the Volkswagen construction plant which reopened after closing down last month due to the coronavirus disease (COVID-19) outbreak in Bratislava, Slovakia April 28, 2020. REUTERS/Radovan Stoklasa

BERLIN (Reuters) - Volkswagen is increasing its stake in U.S. company QuantumScape by up to $200 million to boost the development of solid-state battery technology that aims to increase the ranges of electric cars and shorten charging times, the German carmaker said bit.ly/2BcvqPY on Tuesday.

Volkswagen added that plans for a pilot plant were expected to be firmed up in the course of this year.

Reporting by Thomas Seythal; Editing by Michelle Martin

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