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QuantumScape Battery, Inc. Terminates San Jose Lease, Saves $18.7 Million in Future Payments

Reuters
07/10
QuantumScape Battery, Inc. Terminates San Jose Lease, Saves $18.7 Million in Future Payments

QuantumScape Battery, Inc., a wholly owned subsidiary of QuantumScape Corporation, has entered into a Lease Termination Agreement with MLC V SC - Automation, LLC to conclude its lease for a property in San Jose, California. The lease, originally set to expire in September 2032, will terminate early effective August 1, 2025. This decision aligns with QuantumScape's shift towards a technology licensing focus, reducing its operational footprint. The termination involves a lease termination fee of $1.1 million and a brokerage fee of $1.2 million, but it relieves the company of approximately $18.7 million in future rent obligations. QuantumScape Battery, Inc. will continue to lease other properties from an affiliate of the landlord.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. QuantumScape Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000950170-25-094793), on July 09, 2025, and is solely responsible for the information contained therein.

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