February 27, 2024

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SES expands into South Korea

SES AI, a US developer and manufacturer of large-overall performance lithium-metallic batteries for electric vehicles (EVs) and other programs, announced it has set up a subsidiary enterprise in South Korea to build regional market place alternatives.

SES, headquartered in Boston, said it has just included SES Korea – its second important procedure outside the house the United states immediately after SES Shanghai Giga. The firm said it strategies to construct a pre-manufacturing facility in South Korea this year and expects to utilize some 50 staff domestically by the finish of 2022.

SES explained it is seeking to reinforce its ties with important strategic associates these types of as Hyundai Motor Group, SK Team, LG Company and other significant industrial teams in the place.

The corporation claimed in a statement “South Korea has a powerful battery supply chain and a deep expertise pool. SES Korea and SES Shanghai Giga will focus on various aspects of provide chain enhancement and diverse A-sample joint development with car OEMs”.

SES founder and CEO Dr Qichao Hu reported in a statement “it’s all about pace and winning the race. Momentum is building as further automobile OEMs want to build arrangements for the joint enhancement of A-sample batteries with SES. Getting SES Boston, Shanghai Giga and now SES Korea provides us obtain to deep expertise pools and the really effective ecosystems in South Korea and China – two sector powerhouses, as perfectly as unparalleled chemistry and software program abilities in the United States”.

Dr Hu included “we also think that the money lifted by our modern enterprise blend with Ivanhoe Capital Acquisition Company and our listing on the New York Inventory Trade will aid us accelerate these developments”.

SES mentioned it has automotive A-sample joint advancement agreements with Standard Motors Corporation, Hyundai and Honda Motors and is backed by strategic buyers which includes Basic Motors, Hyundai, Honda, Geely Auto, SAIC Motor, SK, Koch, Applied Products, Tianqi Lithium HK Co. Ltd., Vertex Ventures Holdings, Temasek Holdings Constrained and affiliate marketers of LG and Foxconn Know-how Group.

Very last year the enterprise unveiled its “Apollo” up coming-generation 107 amp/hour automotive lithium-steel battery, boasting an power 417 watt-hour for each kilogram – about 40% higher than the regular lithium-ion battery at the moment used in EVs.

Lithium-metallic batteries use metal as an alternative of graphite, which allows boost vitality density by close to 30% in contrast with lithium-ion batteries. They produce a lot more heat, nonetheless, growing the chance of hearth.

SES explained it has diminished the possibility of fire by making use of improved coatings and its distinctive electrolyte.