SES AI Corporation announces that it will increase investment for Li-Metal battery development in South Korea
SES was the only North American battery company to participate in the event, where South Korea announced a total of $1.15 billion of planned investment for batteries, semiconductors, and other industries.
SES AI Corporation (NYSE: SES) (“SES” or the “Company”) significantly advanced its plans to produce next-generation batteries, securing support from the government of South Korea toward SES’s development of Li-Metal batteries that are designed to greatly increase the range of electric vehicles at a time when global demand for emission-free transport is skyrocketing.
In a meeting with South Korean President Yoon Suk-yeol at the North America Investors Roundtable in New York on September 22, SES founder and CEO Qichao Hu committed to advancing research and development for Li-Metal batteries in South Korea. SES was the only North American battery company to participate in the event, where South Korea announced a total of $1.15 billion of planned investment for batteries, semiconductors, and other industries.
“South Korea is the world leader in EV battery, it plays a key role in global and in particular, North American EV battery industry by bridging the upstream global supply chain with downstream North American EV market. This is why we are investing in development in Korea,” said Dr. Hu. “We are proud that we have been recognized by the Government of South Korea for our innovation in Li-Metal technology and our commitment to supporting the future of the electric vehicle and urban air mobility ecosystem that can benefit us all.”
The meeting in New York also included South Korean Minister of Trade, Industry & Energy, Lee Chang-yang and 7 North American companies that are investing in South Korea to develop batteries, semiconductors, pharmaceuticals, and other industries.
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About SES
SES is a global leader in development and production of high-performance Li-Metal rechargeable batteries for electric vehicles (EVs) and other applications. Founded in 2012, SES is an integrated Li-Metal battery manufacturer with strong capabilities in material, cell, module, AI-powered safety algorithms and recycling. Formerly known as SolidEnergy Systems, SES is headquartered in Boston and has operations in Singapore, Shanghai, and Seoul. To learn more about SES, please visit: ses.ai/investors/
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