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SES AI Corp
Qichao Hu founded SES in 2012 as SolidEnergy Systems, spinning out of MIT's materials science labs with a focus on next-generation lithium-metal cells.
SES AI Corp
Qichao Hu founded SES in 2012 as SolidEnergy Systems, spinning out of MIT's materials science labs with a focus on next-generation lithium-metal cells. The company relocated from Singapore to Boston in 2019 and went public on the New York Stock Exchange in February 2022 through a merger with Ivanhoe Capital Acquisition Corp, a SPAC sponsored by mining financier Robert Friedland. SES positions itself as a battery systems provider rather than solely a cell manufacturer, embedding its engineering teams with automakers during vehicle development. SES develops high-energy-density lithium-metal batteries aimed at electric vehicles and urban air mobility. The core differentiator is a proprietary electrolyte that suppresses dendrite formation, allowing lithium-metal anodes to cycle safely. The company runs two A-sample production lines — one in Shanghai and one in Seoul — and has announced joint development agreements with General Motors, Honda, and Hyundai. GM invested $139 million in SES alongside the SPAC merger (per SEC filings, 2022) and is building a joint prototype line in Massachusetts. Beyond automotive, SES has explored applications in drone and eVTOL platforms, targeting energy densities above 400 Wh/kg. SES employs roughly 450 people across operations in Boston, Shanghai, and Seoul (per the firm, mid-2023). The company operates R&D labs in Massachusetts and scales production at its South Korea facility, which opened in 2024. SES has not yet achieved revenue at commercial scale; it remains pre-revenue as of early 2025, funding operations through balance-sheet equity and strategic investments. The board includes representatives from GM and SK Inc, reflecting the Korean conglomerate's 2021 investment of $50 million (per Bloomberg, 2021). SES's hybrid structure — a publicly listed entity with major automotive partners as shareholders — departs from the private venture trajectory of most battery startups. Unlike QuantumScape's licensing-focused model, SES builds its own production infrastructure and sells directly to automakers. This capital-intensive posture exposes it to shareholder scrutiny and timeline pressure but gives it direct control over manufacturing quality, a bet Hu has argued is necessary for lithium-metal chemistry to reach automotive reliability standards.
General information
Firm type
Asset Manager
Year founded
2012
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Woburn
Corporate office
Woburn, MA, United States
Additional offices
Shanghai, China · Seoul, South Korea
Principals
Qichao Hu
Chief Executive Officer
Rohit Makharia
Chief Financial Officer
Sector focus
Frequently asked questions
How is SES AI Corp different from QuantumScape or Solid Power?
SES pursues lithium-metal chemistry with a liquid electrolyte rather than the solid-state approach used by QuantumScape. The company also differs operationally: SES operates its own production lines in China and South Korea and sells directly to automakers under joint development agreements, whereas QuantumScape focuses on licensing its technology to manufacturing partners like Volkswagen.
What is SES's relationship with General Motors?
GM invested $139 million into SES in connection with the company's 2022 public listing and holds a board seat. The two companies have a joint development agreement to produce prototype lithium-metal cells and are building a pilot production line at SES's Massachusetts facility. GM has stated it intends to be the first automaker to use SES's cells in a production vehicle, though no timeline has been confirmed.
Is SES AI Corp generating revenue?
SES has not yet recorded commercial revenue at scale. As of its most recent filings it remains pre-revenue, funding development through cash on the balance sheet and strategic investments from partners including GM and SK Inc. The company has guided that commercial production is contingent on successful B-sample qualification, a milestone it has not yet publicly announced as completed.
Where does SES manufacture its batteries?
SES operates A-sample production lines in Shanghai, China, and Seoul, South Korea. In September 2024 the company opened a new dedicated lithium-metal battery facility in Chungju, South Korea, aimed at B-sample production and automotive qualification. Its R&D headquarters and a prototype line jointly developed with GM are located in Woburn, Massachusetts.
Is SES structured as a family office or do outside investors hold equity?
SES AI Corp is not a family office — it is a publicly traded company listed on the New York Stock Exchange under the ticker SES. Outside investors hold the vast majority of equity, with strategic shareholders including General Motors, SK Inc, and the combined SPAC sponsor group from Ivanhoe Capital Acquisition Corp.
What does SES's relationship with Hyundai look like?
Hyundai and Kia invested $100 million into SES alongside the 2022 SPAC merger and have a joint development agreement with the company. SES has stated it is working with Hyundai to validate lithium-metal cells for potential use in the automaker's electric vehicle lineup, though no binding supply agreement has been disclosed.
Who controls investment and capital-allocation decisions at SES?
Qichao Hu, SES's founder and CEO, holds an outsized voting stake through a dual-class share structure and controls both strategic direction and capital allocation. The board of directors, which includes representatives from GM, SK Inc, and the SPAC sponsor group, participates in major decisions, but day-to-day allocation authority resides with Hu and CFO Rohit Makharia.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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