SES AI Announces First Li-Metal Cell Production Facility Dedicated to Urban Air Mobility (UAM)
August 12 2024 - 7:00AM
Business Wire
- UAM Cell Facility Opens in Chungju, South Korea.
- Field Acceptance Test (FAT) in South Korea Completed.
SES AI Corporation (“SES AI”) (NYSE: SES), a global leader in
the development and manufacturing of high-performance Li-Metal
batteries, today announced that it completed the conversion and
Field Acceptance Test (FAT) of its Li-Metal cell production
facility dedicated to Urban Air Mobility UAM in Chungju, South
Korea – marking another step forward in the company’s
commercialization of its Li-Metal battery technology.
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The completion of this line conversion and FAT is the world’s
first high-energy density Li-Metal line dedicated to UAM
applications. The facility will also have AI for Manufacturing and
AI for Safety installed. SES AI has been working with its UAM
partners on new cell design and converting its previous EV A-sample
line to a UAM line since it first announced UAM as an exciting, new
strategic market that complements its EV efforts in 2023.
“We have always been excited about the application of UAM for
Li-Metal as a positive step towards commercialization. Our
customers have been waiting for a production line dedicated to
high-energy density Li-Metal,” said Qichao Hu, Founder and CEO of
SES AI. “This UAM line comes at a perfect time, and together with
the GB38031-2020 certification that we received for abuse safety,
along with the AI for Safety that we are installing for in-use
safety, our UAM customers can look forward to a new battery that’s
both high energy density and safe.”
In December, SES AI announced UAM as a new exciting market in
addition to EV. In April, SES AI advanced to the next phase of its
joint development with Hyundai Motor Company and Kia Corporation by
signing an agreement to develop B samples, making it the only
Li-Metal battery company with two automotive B-sample agreements in
progress and the world’s first Li-Metal line dedicated to UAM.
Building on this momentum, during the recent Q2 shareholder
meeting, the Company unveiled its All-in-one AI strategy,
leveraging AI for Science, Manufacturing, and Safety to accelerate
the commercialization of Li-Metal batteries.
About SES AI:
SES AI Corp. (NYSE: SES) is powering the future of global
electric transportation on land and in the air with the world’s
most advanced Li-Metal batteries. SES AI is the first battery
company in the world to accelerate its pace of innovation by
utilizing superintelligent AI across the spectrum of its business,
from research and development; materials sourcing; cell design;
engineering and manufacturing; to battery health and safety
monitoring. Founded in 2012, SES AI is an Li-Metal battery
developer and manufacturer headquartered in Boston and with
operations in Singapore, Shanghai, and Seoul. Learn more at
SES.AI.
SES AI may use its website as a distribution channel of material
company information. Financial and other important information
regarding SES AI is routinely posted on and accessible through the
Company’s website at www.ses.ai. Accordingly, investors should
monitor this channel, in addition to following SES AI’s press
releases, Securities and Exchange Commission filings and public
conference calls and webcasts.
Forward-Looking Statements
This press release contains statements that SES AI believes are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements include, without limitation, statements relating to
expectations for future financial performance, business strategies
or expectations for our business. These statements are based on the
beliefs and assumptions of the management of SES AI. Although SES
AI believes that its plans, intentions and expectations reflected
in or suggested by these forward-looking statements are reasonable,
it cannot provide assurance that it will achieve or realize these
plans, intentions or expectations. These statements constitute
projections, forecasts and forward-looking statements, and are not
guarantees of performance. Such statements can be identified by the
fact that they do not relate strictly to historical or current
facts. When used in this press release, words such as “anticipate”,
“believe”, “can”, “continue”, “could”, “estimate”, “expect”,
“forecast”, “intend”, “may”, “might”, “plan”, “possible”,
“potential”, “predict”, “project”, “seek”, “should”, “strive”,
“target”, “will”, “would” and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking.
You should not place undue reliance on these forward-looking
statements. Should one or more of a number of known and unknown
risks and uncertainties materialize, or should any of SES AI’s
assumptions prove incorrect, our actual results or performance may
be materially different from those expressed or implied by these
forward-looking statements. Some factors that could cause actual
results to differ include, but are not limited to the following
risks: risks related to the development and commercialization of
SES AI’s battery technology and the timing and achievement of
expected business milestones; risks relating to the uncertainty of
achieving and maintaining profitability; risks relating to the
uncertainty of meeting future capital requirements; the ability of
SES to integrate its products into electric vehicles (“EVs”) and
Urban Air Mobility (“UAM"), drones and other applications; the risk
that delays in the pre-manufacturing development of SES AI’s
battery cells could adversely affect SES AI’s business and
prospects; the market for air mobility, and for use of Li-Metal
technology in air mobility applications, is still emerging and may
not achieve the growth potential we expect; risks relating to the
development of the UAM market and demand for batteries from the UAM
industry; potential supply chain difficulties; the ability of SES
AI to engage target original equipment manufacturers (“OEMs”)
customers successfully and integrate SES AI’s products into EVs
manufactured by OEM customers; the ability to obtain raw materials,
components or equipment through new or existing supply
relationships; our use of artificial intelligence and machine
learning may result in legal and regulatory risk; risks resulting
from SES AI’s joint development agreements and other strategic
alliances and investments; product liability and other potential
litigation, regulation and legal compliance; SES AI’s ability to
attract, train and retain highly skilled employees and key
personnel; developments in alternative technology or other fossil
fuel alternatives; risks related to SES AI’s intellectual property;
business, regulatory, political, operational, financial and
economic risks related to SES AI’s business operations outside the
United States; SES AI has identified material weaknesses in its
internal control over financial reporting and may identify material
weaknesses in the future or otherwise fail to develop or maintain
an effective system of internal controls; the volatility of SES
AI’s common stock and value of SES AI’s public warrants; and the
other risks described in “Part I, Item 1A. Risk Factors” in our
annual report on Form 10-K for the fiscal year ended December 31,
2023 filed with the Securities and Exchange Commission (“SEC”) on
February 27, 2024 and other documents filed from time to time with
the SEC. There may be additional risks that SES AI presently knows
and/or believes are immaterial that could also cause actual results
to differ from those contained in the forward-looking statements.
In addition, forward-looking statements reflect SES AI’s
expectations, plans or forecasts of future events and views only as
of the date of this press release. SES AI anticipates that
subsequent events and developments will cause its assessments to
change. However, while SES AI may elect to update these
forward-looking statements at some point in the future, SES AI
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing SES AI’s assessments as of any date subsequent to the
date of this press release.
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