By Max Bernhard 
 

Volkswagen AG (VOW.XE) said Thursday that it plans to invest $100 million in U.S. startup QuantumScape to secure access to solid-state battery technology and work on the commercialization of the technology.

The German car maker said it plans to form a joint venture with the company to enable an industrial level of production of the technology.

The partners aim to establish a production line for the batteries by 2025, Volkswagen said.

Solid-state battery technology is seen as a way to extend the driving range of electric vehicles compared with the present lithium-ion technology.

QuantumScape was founded in 2010 in San Jose, California.

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

June 21, 2018 12:45 ET (16:45 GMT)