On February 4, US Eastern time, SES AI Corporation (SES), the developer and manufacturer of high-performance lithium metal batteries for electric vehicles, announced that its class a common shares and warrants began trading on the New York Stock Exchange with codes "SES" and "SES WS" respectively.
It is understood that up to now, the investors of SES include Geely Holding Group, general motors, Honda, Hyundai Motor and Kia, Saic Motor Corporation Limited(600104) , Foxconn and other global leading automobile manufacturers. In addition, SES has signed joint development agreements with GM, Honda, Hyundai and Kia for lithium metal battery a samples. In November 2021, SES announced that it was building a 1GWh lithium metal battery super factory with a total area of 30000 square meters in Shanghai (expected to be completed in 2023), and demonstrated the world's first lithium metal battery with a total area of more than 100Ah.
Hu Qichao, founder and CEO of SES, said: "the funds raised from this business merger and listing will create a better development platform for us, implement the next stage of R & D and production planning, and bring the next generation of battery technology to global electric vehicle manufacturers."
In addition, Robert Friedland, chairman and CEO of Ivanhoe capital acquisition company, will continue to serve as a director of the merged company. As the founder and executive co chairman of Ivanhoe mines, Ivanhoe mines founded by Freeland is a leading mining and mineral exploration company focusing on strategic "power" metals. It is listed on the Toronto Stock Exchange (TSX) under the trading code "IVN".
It is reported that SES lithium metal battery is expected to be the next generation of electric vehicles with long mileage and affordable price. This technical route will further improve the energy density based on the high manufacturability of traditional lithium-ion batteries. SES lithium metal battery adopts lithium metal anode with high energy density, protective anode coating, patented high concentration lithium salt electrolyte and artificial intelligence safety algorithm. Compared with the current all solid state lithium metal battery, SES lithium metal battery has higher performance and production efficiency.
