SES AI’s 100 Ah Li-Metal Is First to Successfully Pass the Global Electric Vehicle EV Safety Standard Test GB38031-2020

Rhea-AI Summary

SES AI (NYSE: SES) has achieved a significant milestone in the commercialization of Li-Metal battery technology. The company's 100 Ah Li-Metal cells for automotive applications have become the first in the industry to pass the GB38031-2020 Electric Vehicles Traction Battery Safety Standard tests. This standard is widely recognized by SES AI's EV OEM partners and other leading manufacturers globally.

The GB38031-2020 standard involves rigorous tests including overcharge, over discharge, external short circuit, heating, temperature cycling, and crushing. This achievement follows SES AI's acquisition of the UN38.3 safety certificate last year. The company's CEO, Qichao Hu, emphasized the importance of this milestone, highlighting SES AI's decade-long commitment to refining Li-Metal chemistry and enhancing battery safety.

This development strengthens SES AI's commercialization momentum, following its advancement to the next phase of a JDA with Hyundai. The company also recently unveiled its All-in-on-AI strategy, leveraging AI for Science, Manufacturing, and Safety to accelerate Li-Metal battery commercialization.

Positive

• First 100 Ah Li-Metal cells to pass GB38031-2020 safety tests for EV applications
• Advancing to next phase of JDA with Hyundai, becoming the only Li-Metal battery company with two automotive B-sample agreements in progress
• Implementation of All-in-on-AI strategy to accelerate Li-Metal battery commercialization

Negative

• None.

Battery Technology Expert

SES AI's achievement in passing the GB38031-2020 safety standard for their 100 Ah Li-Metal cells is a significant milestone for the EV battery industry. This certification demonstrates that Li-Metal technology, known for its high energy density, can now meet stringent safety requirements. The successful tests, including overcharge, short circuit and crushing, address critical safety concerns that have been barriers to Li-Metal adoption.

The implications are substantial: higher energy density batteries that maintain safety standards could lead to EVs with longer ranges and faster charging times. This could accelerate EV adoption and potentially disrupt the current Li-ion dominated market. However, it's important to note that passing safety tests is just one step. Scalability, cost-effectiveness and long-term performance in real-world conditions will be key factors in determining Li-Metal's commercial viability.

Automotive Industry Analyst

The certification of SES AI's Li-Metal cells under GB38031-2020 is a game-changer for the automotive sector. This standard is recognized by major EV manufacturers globally, not just in China. It potentially opens doors for SES AI to collaborate with more OEMs, beyond their existing partnerships.

The company's progress, including two B-sample agreements, positions them at the forefront of next-gen battery tech. However, the road to mass production is long. Key challenges include scaling up production, ensuring consistent quality and competing with established Li-ion supply chains. The integration of AI for manufacturing and safety prediction is promising, potentially addressing these challenges and accelerating time-to-market. This could give SES AI a competitive edge in the rapidly evolving EV battery landscape.

Financial Analyst

From an investment perspective, SES AI's breakthrough is promising but requires cautious optimism. The company's stock (NYSE: SES) may see increased interest due to this news, potentially driving short-term gains. However, investors should consider several factors:

• The path from certification to mass production and profitability is often long and capital-intensive.
• Competition in the advanced battery space is fierce, with both startups and established players investing heavily.
• The company's financial health and burn rate will be important as they move towards commercialization.

While the technology shows promise, financial success will depend on SES AI's ability to execute their commercialization strategy effectively and secure long-term partnerships with major automakers. Investors should closely monitor the company's progress in scaling up production and securing additional OEM agreements.

• First 100 Ah Li-Metal Automotive Cell to Pass for EV and UAM
• Bolsters Commercialization Momentum

WOBURN, Mass.--(BUSINESS WIRE)-- SES AI Corporation (“SES AI”) (NYSE: SES), a global leader in the development and manufacturing of high-performance Li-Metal batteries, announced a major step in its commercialization of this next-generation battery technology. The Company’s 100 Ah Li-Metal cells for automotive applications are the first in the industry to successfully pass safety tests required by China’s GB38031-2020 Electric Vehicles Traction Battery Safety Standard. This certification is used by all of SES AI’s EV OEM partners, as well as many of the other leading manufacturers, as a global standard.

First 100 Ah Li-Metal Automotive Cell to Pass for EV and UAM (Graphic: Business Wire)

GB38031-2020 is a mandatory national standard in the world’s largest EV market, China, specifically designed for the electric vehicle sector, encompassing a series of rigorous tests such as overcharge, over discharge, external short circuit, heating, temperature cycling, and crushing. Compliance with GB38031-2020 demonstrates that SES AI’s 100 Ah Li-Metal cells can effectively manage safety risks under these stringent test conditions. This achievement further solidifies SES AI's commitment to safety and excellence, following last year's acquisition of the UN38.3 safety certificate.

“The results are highly encouraging, affirming our decade-long commitment to refining Li-Metal chemistry and enhancing the safety of Li-Metal batteries,” said Qichao Hu, Founder and CEO of SES AI. “There are two types of safety tests that Li-Metal needs to pass for EV and UAM, abuse and in-use. For abuse tests, passing GB38031-2020 is a key milestone, it’s also the first time in the industry that a high energy density cell such as Li-Metal passes the rigorous safety tests of GB38031-2020. In addition, for in-use safety, our AI for Safety can predict and prevent almost 100% of incidents in the field. When you combine the GB38031-2020 for abuse and AI for Manufacturing for in-use, this is a major milestone toward the commercialization of Li-Metal for EV and UAM applications.”

This announcement bolsters the commercialization momentum SES AI ignited earlier this year when it moved into the next phase of a JDA with Hyundai, making it the only Li-Metal battery company with two automotive B-sample agreements in progress. Building on this momentum, during the recent Q2 shareholder meeting, the Company unveiled its All-in-on-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.

© 2024 SES AI Corp., Confidential and Proprietary

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Source: SES AI Corporation

FAQ

What safety standard did SES AI's 100 Ah Li-Metal cells pass?

SES AI's 100 Ah Li-Metal cells passed the GB38031-2020 Electric Vehicles Traction Battery Safety Standard tests, which is a mandatory national standard in China for the electric vehicle sector.

What types of tests are included in the GB38031-2020 standard for SES AI's Li-Metal cells?

The GB38031-2020 standard includes rigorous tests such as overcharge, over discharge, external short circuit, heating, temperature cycling, and crushing.

How does SES AI (NYSE: SES) plan to ensure in-use safety for their Li-Metal batteries?

SES AI uses AI for Safety, which can predict and prevent almost 100% of incidents in the field, ensuring in-use safety for their Li-Metal batteries.

What is SES AI's (NYSE: SES) recent strategy to accelerate Li-Metal battery commercialization?

SES AI recently unveiled its All-in-on-AI strategy, which leverages AI for Science, Manufacturing, and Safety to accelerate the commercialization of Li-Metal batteries.