Home » Honda, Hyundai and GM Motor Backed Battery Company SES Listed on NYSE Officially

Honda, Hyundai and GM Motor Backed Battery Company SES Listed on NYSE Officially

Produced doubled lithium-metal battery capacity than others.

by SEP Editor
3 mins read
一張含有 室外, 天空, 城市, 公路 的圖片

(Credit: SES)

SES AI Corporation, a lithium-metal battery startup, shook up to close business combination of SES Holdings Pte. Ltd. and Ivanhoe Capital Acquisition Corp earlier, and will begin trading on the New York Stock Exchange on February 4, 2022, by way of Special Purpose Acquisition Company (SPAC).

Why It Matters

Many The PIPE investors include multiple industry leading OEMs and strategic partners as well as premier financial investors eye on SES for its groundbreaking lithium-metal battery technology. Investors include Honda Motor Co. Ltd., General Motors, Hyundai Motor Company, Geely Holding Group, Kia Corporation, SAIC Motor, Koch Strategic Platforms, LG Technology Ventures, Foxconn, Vertex Ventures, Tianqi Lithium, and Applied Materials.

SES Background

  • SES is a world leader in designing and manufacturing high-performance Lithium-Metal rechargeable batteries for electric vehicles and other applications. Founded in 2012, SES is headquartered in Boston, with operations in Singapore, Shanghai, and Seoul.
  • SES is recognized for its groundbreaking lithium-metal battery technology. In November 2021, SES released the ApolloTM lithium metal battery with a capacity of up to 107Ah, becoming the single lithium-metal battery with the largest single capacity in the world and the first public display of more than 100Ah. Compared with other lithium-metal batteries, the energy has been doubled. With such a battery, the mileage anxiety that plagues new energy vehicles will no longer be a problem.

In addition, in November 2021, SES also announced that it will build a new 300,000-square-foot gigafactory in Shanghai, which is scheduled to be completed in 2023 and launch the world’s first lithium metal battery greater than 100 amp-hours. Shanghai’s factory will reach a capacity of 1GWh after completion in 2023 in terms of capacity expansion.

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(Credit: SES)


  • Valued at roughly $3.4 billion prior to the listing.
  • ES made a $275 million PIPE offering at $10.00 per share. Thus after completing its business combination with Ivanhoe Capital Acquisition Corporation, SES has a market value of $3.6 billion.

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(Credit: SES)

Talking about this listing, Qichao Hu, SES’s founder and Chief Executive Officer said, “Today marks a significant milestone for us. The capital raised through this transaction is expected to provide SES with the necessary proceeds to continue accelerating its growth and fund key development initiatives.” Qichao Hu also stated that they will focus on delivering next-generation lithium metal battery technology to global EV manufacturers. This will definitely heat up the race of electrification of carmakers.

SEE ALSO: Net profit for CATL in 2021 announced to increased more than 150%

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