Boston-based SES AI Corporation, a developer of high-performance rechargeable lithium-metal (Li-Metal) batteries for electric vehicles and other applications, has incorporated its subsidiary SES Korea and plans to build a pre-production plant in South Korea.
It’s all about speed and winning the race. Momentum is building as other automotive OEMs seek to establish agreements for the joint development of A-sample batteries with SES. Having SES Boston, Shanghai Giga and now SES Korea gives us access to deep talent pools and the highly efficient ecosystems of South Korea and China, the twin engines of the industry, as well as chemical and software unmatched in the United States. We also believe that the cash generated from our recent business combination with Ivanhoe Capital Acquisition Corp. and our listing on the New York Stock Exchange will help us accelerate these developments.
—Dr. Qichao Hu, Founder and CEO of SES
SES Korea will be SES’s second major operation outside the US, after SES Shanghai Giga. SES Korea expects to have approximately 50 employees by the end of 2022. South Korea is home to several of SES’s important strategic partners, including Hyundai Motor Company (Hyundai), SK Inc. (SK) and LG Corporation.
South Korea has a strong battery supply chain and a large talent pool. SES Korea and SES Shanghai Giga will focus on different aspects of supply chain development and joint development of different A-samples with automotive OEMs.
SES has entered into Automotive Model A Joint Development Agreements (JDAs) with General Motors, Hyundai and Honda Motors. SES is backed by strategic investors including GM, Hyundai, Honda, Geely Auto Group, SAIC Motor, SK, Koch, Applied Materials, Inc., Tianqi Lithium HK Co. Ltd., Vertex Ventures Holdings, Temasek Holdings Limited, subsidiaries from LG and Foxconn Technology Group and several others.
Founded in 2012, SES, formerly known as SolidEnergy Systems, is an integrated manufacturer of Li-Metal batteries with strong capabilities in materials, cells, modules, AI-powered safety algorithms and recycling .