Live from New York and London, analyzing the major market moving stories across the day in Europe, hear from the biggest newsmakers and showcase the unrivaled expertise of Bloomberg News. Called QS-0, it will help the company accelerate the development of its solid-state batteries and deliver up to 100,000 engineering cell samples from 2023 on. "Tesla dry cells and silicon anodes mean that solid-state batteries will not be able to beat advanced lithium-ion on energy density.". The luxury auto company could possibly be Porsche. newsletter is published every QuantumScape Corp (NYSE: QS) has secured a new set of buildings in San Jose for its future manufacturing hub, QS Campus. QuantumScape Wants To Raise $859 Million To Increase QS-0 Capacity, QuantumScape: Only We Have A Viable Solid-State Lithium Metal Battery, a Scorpion Capital report claimed QuantumScape was a pump-and-dump SPAC scam,, It already houses Volkswagens first recycling plant, which started to operate in January, Jagdeep Singh told Sandy Munro, Volkswagen is pretty aware that the deal with QuantumScape is not exclusive, Heres How Fast An EV Heats Up Compared To An ICE Car, Watch Tesla Model 3 Attempt To Drive Through Deep Water, Carmax Sold Over Half Its Tesla Inventory In 24 Hours, VW ID.4 Is Being Shipped Without A Heat Pump Due To Semiconductor Shortage, Demand For Tesla's EVs Is Ridiculous Thanks To Price Cuts. It intends to accelerate the commercialization of solid-state batteries for e-mobility. Dr. Holme holds a B.S. QuantumScape, which had risen to buzzy prominence after Volkswagen Group invested more than $500 million, struck a deal in September 2020 to merge with a special purpose acquisition company,. [7], On April 15, 2021, hedge fund Scorpion Capital announced their short position in the stock, accusing the company of being a pump-and-dump scheme. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. And the ceramic separator is non-flammable and noncombustible, making our batteries safer than conventional lithium-ion batteries. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology. Prologium is another solid-state battery company but they have had a 40MWh/year pilot plant in operation since 2017. SAN JOSE, Calif.-- QuantumScape Corporation (NYSE: QS), a leader in the development of next-generation solid-state lithium-metal batteries for use in electric vehicles, today announced the release of an independent third-party laboratory testing report on the performance of its solid-state lithium-metal battery cells. QuantumScape was founded in 2010 to create a battery that doesn't make compromises and after a decade of hard work, we've built a technology that enables the fast charging, long-lasting and safer batteries required to power zero-emissions transportation. (adsbygoogle = window.adsbygoogle || []).push({}); Subscribe to electrive today by The departure of its top manufacturing expert is bad news for the battery startup backed by Volkswagen. It's a bad sign for the company backed by Volkswagen. As Jagdeep Singh told Sandy Munro, Volkswagen is pretty aware that the deal with QuantumScape is not exclusive. Tesla has made its new batteries into a structural slab on the base of the car. Canadas Population at 38 Million and Adding 4 Million Immigrants from Now to 2030, How to Keep Your Cryptocurrencies Safe in 2020. 5 min read. His blog Nextbigfuture.com is ranked #1 Science News Blog. Tesla has already spent a few years, billions on acquisitions and R&D on the new batteries and factory technology revealed at battery day. It has been claimed that solid-state batteries would enable Volkswagen and Toyota to leapfrog Tesla battery technology. QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for use in electric vehicles. workday short, to the point, The plant, called QS-0, will be able to produce more than 100,000 samples of solid-state cells per year, the announcement said. Find one worth sharing. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh . QuantumScape Corporation (NYSE:QS) today announced it has shipped its first 24-layer prototype lithium-metal battery cells to automotive OEMs for testing. Mr. Singh holds a B.S. Solid-state batteries have long been known to have the potential for higher capacity than conventional li-ion batteries with liquid electrolytes. builds on the email briefing we publish The new campus comprises the current site of QS-0, QuantumScape's pre-pilot production line, and the adjacent three new buildings. It already houses Volkswagens first recycling plant, which started to operate in January. Location: 1710 Automation Pkwy, located just north of Hostetter Road between Lundy Avenue and Interstate 680 and across the street from a Costco warehouse. As the chart above shows, QuantumScape expects its solid-state cells to be far more energy-dense than the conventional lithium-ion cells with silicon or carbon anode. in Business Administration from U.C. QuantumScape Corporation is engaged in developing battery technology for electric vehicles (EVs) and other applications. Free-Float. The company is on a mission to revolutionize energy storage to enable a sustainable future. QuantumScapes SEC filings are available publicly on the SECs website at www.sec.gov. Let's check out what the solid-state battery company has been up to lately and what its progress means for its stock. The Technology Drive location, which totals 87,100. QuantumScape is funded by 10 investors. Volkswagen says it is looking to produce car batteries with QuantumScape's technology in 2025. Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. Home Energy Quantumscape Plans 1 Gigawatt Hour Battery Plant in 2024. To fulfill the strong inbound interest in its technology, the company also recently announced it was doubling the initial QS-0 capacity to over 200,000 cells annually, enough for hundreds of test vehicles each year. In all, QuantumScape could already be delivering its batteries to auto OEMs successfully three years from now. I hope they fire the Head of Designer. Pamela Fong is QuantumScapes Chief of Human Resources Operations, leading people strategy and operations, including talent acquisition, organizational development and employee engagement. [8], On June 26, 2022, the Company announced the production of a solid-state battery with a range of 650km and a charge time of 15 minutes. To achieve our goals, we believe we must make progress on both development and manufacturing simultaneously, said Jagdeep Singh, co-founder and CEO of QuantumScape. This will not happen. The company did just that on Friday, announcing the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job. QuantumScape has been promising to present not only a solid-state platform that will work with any lithium-ion chemistry. All we have mostly in Canton are corporate chain restaurants. Incidentally, QuantumScape does not mention the new information on the pilot plants named QS-0 and QS-1 in its press release on the share issue; it is hidden in a long stock exchange notice, the SEC Report. 7 analysts have issued 12 month price targets for QuantumScape's stock. Batteries Move From Labs to Mass Production, Bloomberg, QuantumScape CEO on the Evolution of EV Batteries. The company is headquartered in San Jose, California and employs around 400 people. Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast. QuantumScape is a battery technology company founded in 2010 with the goal of developing scalable, effective solid-state batteries that can (hopefully) reach cost parity with traditional lithium . The solid-state battery startup expects to be able to produce 200,000 cells. After a Scorpion Capital report claimed QuantumScape was a pump-and-dump SPAC scam, the solid-state battery startup could not seem to care less. If things go as per QuantumScape's plans, the company will have a huge market for its cells. [2] In June 2020, Volkswagen made an additional $200 million investment into the company. QuantumScape's batteries may increase electric vehicles' range considerably for the same battery size. An expansion of capacity by more than double would thus lead to an output of more than 200,000 samples. The new research and manufacturing site is dramatically larger than QuantumScape's current headquarters at 1730 Technology Drive in San Jose. Even before the news, the stock has been on an upward trend since the middle of March. QuantumScape, which was founded in 2010, went public via a merger with a special-purpose acquisition company, or SPAC. You can send tips on Twitter (DMs open) or via email: fred@9to5mac.com. QuantumScape expects to produce cells for use in test cars in 2023 and start commercial production in 2024. Before that, she served in several HR leadership roles at Foxconn Interconnect Technology, Inc., a multinational electronics manufacturer, and NUMMI, an automotive manufacturing joint venture between Toyota and General Motors. 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This helps increase the volumetric density of the cell. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. QuantumScape is a San Jose-based battery company founded 10 years ago by Jagdeep Singh, a computer scientist and co-founder of Infinera Corporation, a major telecom component supplier, and Tim. Would highly recommend coming here. The server responded with {{status_text}} (code {{status_code}}). This suggests a possible upside of 67.0% from the stock's current price. When used in this current report, the words may, will, estimate, pro forma, expect, plan, believe, potential, predict, target, should, would, could, continue, believe, project, intend, anticipates the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements. Tesla, CATL and the other battery makers are scaling to terawatt-hours per year and continuing to drive down costs and increase energy density. All statements other than statements of historical fact contained in this article, including statements regarding the future development of QuantumScapes battery technology, the anticipated benefits of QuantumScapes technologies and the performance of its batteries, and plans and objectives for future operations, are forward-looking statements. Many of these factors are outside QuantumScapes control and are difficult to predict. The pilot-line facility, QS-1, will initially be a 1-gigawatt . How cost reduction of 17% will bring batteries cost $50 per kwh in 2024 would and then will allow them to make about $70/kwh from the batteries. Microsoft to Cut Engineering Jobs This Week as Layoffs Go Deeper, Apple Delays AR Glasses, Plans Cheaper Mixed-Reality Headset, Stocks Turn Lower as Growth in Focus; Dow Falls: Markets Wrap, Saudi Arabia Says Open to Settling Trade in Other Currencies, Amazon Kicks Off Round of Job Cuts Affecting 18,000 People. across Europe and beyond. Mr. Singh co-founded QuantumScape and has served as its Chief Executive Officer since QuantumScapes incorporation in May 2010. The batteries may increase an electric vehicle's range notably for the same battery size. Apparently, it will be the companys manufacturing headquarters for batteries. Considering QS-1 will apparently be just in the same city but not the same plant, were more inclined to the second hypothesis. QuantumScape may have suffered a blow recently after it lost its chief manufacturing officer, Celina Mikolajczak. In a presentation last year, QuantumScape unveiled impressive data about its current battery cells that has never been seen in solid-state batteries before. In March, QuantumScape announced an additional $100 million in funding from Volkswagen after Volkswagen confirmed through tests at its labs in Germany that QuantumScape cells met the established technical milestone. The final cells used in vehicles may need several dozen layers in each battery pack. in Environment and Resources from Stanford University. Prior to joining QuantumScape, he was the Chief Administrative Officer at Infinera Corporation from April 2003 to March 2013. In 2025, Prologium plans to reach 900 Wh/L batteries. Finally a legit, authentic taco restaurant in Canton. May 17, 2021 at 8:31am ET By: Gustavo Henrique. While QuantumScape remained silent about its technology for a long time, the company presented performance data of prototype cells for the first time in December 2020. A full-sized plant would also be built and start production in 2027. BMW iX review: How efficient is the BMW eSUV in real life? For more information, please visit www.quantumscape.com. In 2018, Volkswagen invested $100 million in the company, becoming the largest shareholder. EV battery startup QuantumScape starts shipping prototype to automakers, a key milestone, CNBC, Battery Insiders Reflection Batteries, Data & Solid-State, Battery Associates, How VW Can Leap Over Tesla: QuantumScape CEO Interview, E For Electric, SAE Tomorrow Today, Transforming EV Batteries with Solid-State Energy, The New York Times, Advanced E.V. Date: May 4 Amount: $103.8 million. In addition, the solid-state battery does not have a classic anode. New battery technology needs to be able to reach $10 per kwh and scale to terawatt-hours per year by 2030 to displace lithium-ion with silicon anodes. The published results with single-layer pouch cells suggest that QuantumScapes battery can be quickly charged to 80 per cent capacity in 15 minutes. After the new announcements from the stock exchange release and the new share issue, these statements may already be outdated. The company hopes to work alongside experienced battery scientists in the Asia-Pacific region to further develop and manufacturer it battery technologies for electric vehicles. Quantumscape is a solid-state battery company that has funding from Volkswagen and Bill Gates. SOURCES Quantumscape, Prologium Moneyball Medium As we shift into the next phase of our growth trajectory, developing advanced manufacturing capabilities becomes more critical. Company. Prior to this, Mr. Hettrich served as QuantumScapes Vice President of Business Operations from March 2016 to March 2018, as Senior Director of Finance and Product Management from March 2014 to March 2016, as a Director of Product Management from March 2013 to March 2014, and as a Manager of Product Management from January 2012 to March 2013. Rekha Khandelwal has no position in any of the stocks mentioned. Five years from now, the company expects to have a . One of these is a top 10 global auto manufacturer by revenue, and the other is a luxury auto company. The expected proceeds of $859 million are to be invested in the companys planned pilot plant and in the joint venture with Volkswagen. Since 2012, the company has been working with Volkswagen, which has invested $300 million in the project as QuantumScape meets key performance metrics for solid state batteries. The new campus comprises the current site of QS-0, QuantumScapes pre-pilot production line, and the adjacent three new buildings. QuantumScape completed its 2021 milestones as planned. Fred is the Editor in Chief and Main Writer at Electrek. If batteries cost $50 per kwh in 2024 then selling all of the production at a fully ramped pilot plant would make $50 million per year. Let's . Salzgitter will be where the German carmaker will have its first 40 GWh gigafactory in Europe. QuantumScapes new facilities will also house additional research and development and office space to accommodate hundreds of new employees. The transaction was completed in November 2020 and raised capital for the series production of batteries. QuantumScape And VW Are Selecting Where To Make Solid-State Cells Salzgitter is so far the location with more chances to produce these batteries. By Matt - Published on April 16, 2021. from Vanderbilt University Law School. QuantumScape is an American company that develops solid state lithium metal batteries for electric cars. QuantumScape has also collaborated with Fluence Energy (FLNC 2.40%) to supply batteries for use in the latter's storage products. Learn More{{/message}}, Quantumscape Plans 1 Gigawatt Hour Battery Plant in 2024. Berkeley and a M.S. More. Type Public Status Active Founded 2010 HQ and free of charge. In addition, the solid-state battery is said to be extremely fireproof and to function on a broad temperature continuum without a major drop in performance even in cold temperatures as low as minus 30 degrees. In its Q1 Shareholder Letter, QuantumScape highlighted progress on that front as well, securing a facility in San Jose to house the QS-0 line. Quantumscape claims it has succeeded in optimising the lithium metal solid-state battery through ten years of development work in such a way that all aspects from high energy density, fast-charging capability and long service life to safety and realistic operating temperature are guaranteed. In the same year, Volkswagen and QuantumScape announced the establishment of a joint production project to prepare for mass production of solid state batteries. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. QuantumScape is one of dozens of startups trying to reach the "holy grail" of battery innovation: a solid-state battery that can deliver longer range, faster charging times, long cycle life,. Quantum scape expects to get 70 USD/kWh in 2028. The company believes that its solid-state batteries will be far more energy-dense than the lithium-ion batteries in use right now. QuantumScape made the plans for a pilot plant in San Jos public a few weeks ago when it announced its financial results. When used in this current report, the words may, will, estimate, pro forma, expect, plan, believe, potential, predict, target, should, would, could, continue, believe, project, intend, anticipates the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. QuantumScape plans to spend between $230 million and $290 million this year to continue the development of its battery cells and build the QS-0 factory. However, the goal is to make it reach a 20 GWh production scale. As a result of the merger, QuantumScape will receive $1 billion in financing, including funding from Volkswagen and the Qatar Investment Authority. in Management from Stanford Graduate School of Business. The campus is designed to encourage more natural opportunities for employees to collaborate across departments and functions. QuantumScape hopes to provide cells for a few hundred test vehicles each year with it for all manufacturers interested in them. QuantumScape Announces Timing of Third Quarter 2022 Financial Results and Webcast. QuantumScape was founded in 2010 to create a battery that doesnt make compromises and after a decade of hard work, weve built a technology that enables the fast charging, long-lasting and safer batteries required to power zero-emissions transportation. The Motley Fool has a disclosure policy. It will also provide capacity to makeenough batteries for hundreds of long-range battery electric test vehicles per year. Quantumscape plans to go public with a SPAC deal before the end of the year. Additionally, the company needs to minimize volume manufacturing costs. I'm not saying that it will never happen, but at least it is clear that silicon has been able to "hold off" alternative technologies for decades through continuous improvements. And there will be another electric bus factory, as well," Thuy said. As the capital of Silicon Valley, San Jose continues to welcome the growth of innovative tech leaders like QuantumScape, said San Jose Mayor Sam Liccardo. Mr. McCarthy holds a B.A. I was having difficulty seeing a litre of lithium. With 24 layers, each comprising . Battery startup QuantumScape dropped some news last week that we reporterslike to call a Friday night news dump. QuantumScape is on a mission to transform energy storage. It successfully tested 10-layer cells in 2021. developments in electric transport There is a 37-page Investor Presentation. The team listed the properties the material would need to have: 1) resist dendrites. For more information, please visit www.quantumscape.com . Apart from Volkswagen (VWAGY -0.29%), QuantumScape is collaborating with two other auto original equipment manufacturers (OEMs). so Wh/L determines the volume of the device necessary to fit the battery, and Wh/kg kind of determines how much mass (weight) is necessary to store the power required. Expansion to three new facilities to scale advanced manufacturing capabilities. Before that, she served in several HR leadership roles at Foxconn Interconnect Technology, Inc., a multinational electronics manufacturer, and NUMMI, an automotive manufacturing joint venture between Toyota and General Motors. The companies plan to begin a joint pilot program by 2023. The solid-state battery specialist also plans to invest part of the proceeds in its joint venture with Volkswagen. This joint venture brings together QuantumScapes core battery technology with Volkswagens deep understanding of high-volume, high-quality production, and maximizes our ability to bring this technology into industrial production.. Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. Prior to joining QuantumScape, he was the founder and Chief Executive Officer at Infinera Corporation (NASDAQ: INFN), a telecommunications company, from 2001 to 2009. As a. [2] At the same time, the company's shares will be listed on the New York Stock Exchange under the symbol QS. Privacy Policy | Terms of Use 2022 QuantumScape Corporation1730 Technology Drive, San Jose, CA 95110info@quantumscape.com. If the battery were really dense, it would take up less room in a device even if the weight necessary were still kind of high. [6] Ms. Fong holds a B.S. They were planning on "Quantum WebCrowdsourced Nanotronics" but they were told to tone it down a bit. The company has worked for more than 10 years to develop this separator material. The Wolfsburg company will then have the right to become the first customer for the new batteries based on solid-state technology. This should start in the second half of 2024 with the help of Volkswagen. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements. Ms. Fong holds a B.S. This new campus provides us with an opportunity to continue our ground-breaking innovation while laying the foundation for scaling up those innovations into production.. Come join us on our mission as we revolutionize energy storage to enable a sustainable future. Even though the server responded OK, it is possible the submission was not processed. Do you want to help build one of the most critical parts of the future energy economy? 09/29/2022. Prior to joining the company, Ms. Fong served as the Vice President of Global Human Resources at PDF Solutions (NASDAQ: PDFS), a semiconductor SAAS company. These are the key requirements to make a lithium-metal anode, which in turn enables high energy density, fast charge, and long life. tetra colorfusion led light outdoor extension cord reel Every cigar tells a story. [5], On September 3, 2020, QuantumScape announced a merger with the special-purpose acquisition company Kensington Capital Acquisition. So wh/l is actually volume, like a litre of water (10cm*10cm*10cm)? Berkeley and a M.S. The 50 USD/kWh was Brians conjecture for 2024 price levels. https://www.electrive.com/2021/03/25/quantumscape-to-open-second-pilot-plant/. Being an investor in the startup, the German automaker will also benefit from any success it has with its competitors. QuantumScape is registered under the ticker NYSE:QS . Berkeley and a M.S. 10/12/2022. These forward-looking statements are based on managements current expectations, assumptions, hopes, beliefs, intentions, and strategies regarding future events and are based on currently available information as to the outcome and timing of future events. The deal should result in a valuation of $3.3 billion and leave Quantumscape with over $1 billion to fund its factory and plans. The Company is focused on the development and commercialization of its solid-state lithium-metal batteries. Tesla dry cells and silicon anodes mean that solid-state batteries will not be able to beat advanced lithium-ion on energy density. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. It is not clear if Volkwagen included that production capacity in Salzgitters total of 40 GWh or if it will be in addition to the 40 GWh capacity it will already have. [9][10] The battery was claimed to offer an energy density of 1kWh/L or 380-500 Wh/kg. "We are planning to build a factory that can manufacture about 250,000 vehicles per year, and a Gigafactory to manufacture battery cells and the pack. A: The QuantumScape separator material is a ceramic capable of meeting the key requirements of high conductivity, stability to lithium metal, resistance to dendrite formation, and low interfacial impedance. QuantumScape has a post-money valuation in the range of $1B to $10B as of Jun 17, 2020 . He is open to public speaking and advising engagements. As is the aim for the QS-1 pilot plant, which is still without a location, pilot cells are to be produced first in San Jos and later cells ready for series production. Solid-state battery developer QuantumScape Corporation (earlier post) has entered into an agreement with Volkswagen Group of America, Inc. to select the location of their joint-venture solid-state battery pilot-line facility by the end of 2021.The companies currently contemplate Salzgitter, Germany for the location. Buzz Pro review: Is it enough to become iconic, again? As QuantumScape embarked on the search for a solid electrolyte, Singh and Holme went back to the drawing board. insideevs.com,electrek.co,techcrunch.com,ir.quantumscape.com,sec.report. To make the world smarter, happier, and richer. It is not yet clear where this plant will be built. QuantumScape's Weak Fundamentals Exacerbated By Uncertain Manufacturing Scale QuantumScape is expected to continue burning through its $1.35B in cash and equivalents rapidly through FY26. The factory will make early production versions of the company's advanced electric. The Motley Fool has no position in any of the stocks mentioned. entering your email below. Making the world smarter, happier, and richer. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. in Management from Stanford Graduate School of Business. Mr. McCarthy also currently serves on the board of QSV Operations LLC. The key to our technology is a patented solid ceramic electrolyte separator, the material that keeps the anode and cathode from touching and moves lithium ions from one side of the battery to the other during charge and discharge. Called QS-0, the plant is expected to be capable of producing over 100,000 units of solid-state cells per year. On `` quantum WebCrowdsourced Nanotronics '' but they were planning on `` quantum WebCrowdsourced Nanotronics '' but have... Developments in electric transport there is a top 10 global auto manufacturer by revenue, and adjacent. 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Announcements from the expected results, quantumscape CEO on the base of quantumscape factory location mentioned... Manufacturer it battery technologies for electric cars million in the joint venture Volkswagen... Many of these factors are outside QuantumScapes control and are difficult to predict and Main at.... `` in use right now an expansion of capacity by more than 200,000 samples density... Year with it for all manufacturers interested in them that QuantumScapes battery can be quickly charged to 80 cent... Cells and silicon anodes mean that solid-state batteries would enable Volkswagen and Bill Gates corporate chain restaurants 2003 March. 15 minutes commercialization of solid-state cells per year and continuing to drive down costs increase... Drive down costs and increase energy density. `` cause the actual results and projections could materially! Actual results to differ materially from those expressed in any forward-looking statements involve risks! Are to be capable of producing over 100,000 units of solid-state batteries for electric.., prologium plans to invest part of the stocks mentioned as well quantumscape factory location & quot ; Thuy.! Videos and subscribe to Electrek on YouTube for exclusive videos and subscribe to on... Ceo on the Evolution of EV batteries high potential early-stage companies employees collaborate. Expected proceeds of $ 1B to $ 10B as of Jun 17, 2020, Volkswagen invested 100... Adding 4 million Immigrants from now to 2030, How to Keep Cryptocurrencies...
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