Volkswagen AG has reportedly purchased a stake in the battery startup company QuantumScape Corp. to develop technology that can increase the range of its battery-electric vehicles by more than threefold, according to a report by Bloomberg.

VW may implement the energy-storage technology in vehicles from its namesake brand along with Porsche and Audi, according to people familiar with the matter, who requested anonymity because the plans are private. Testing of the technology is scheduled to be completed in mid-2015, they said.

QuantumScape is developing solid-state batteries, which have the potential to generate more power and store more energy than liquid electrolytes such as the lithium-ion technology currently used in many electric cars, reports Bloomberg.