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SES Completes Series D Funding With General Motors Support

Lithium-ion battery developer SES has announced the completion of Series D funding, with $139 million raised. Leading the funding round was General Motors, with additional contributions from Applied Ventures LLC, Shanghai Auto, SK Inc., Temasek, and Vertex. The recent investment announcement follows General Motors’ ongoing efforts to develop a range of new all-electric vehicles, with plans to launch 30 new EV models globally by 2025.

“GM has been rapidly driving down battery cell costs and improving energy density, and our work with SES technology has incredible potential to deliver even better EV performance for customers who want more range at a lower cost,” said GM executive vice president and chief technology officer and president, GM Ventures, Matt Tsien. “This investment by GM and others will allow SES to accelerate their work and scale up their business.”

SES is focused on the commercialization of lithium-ion batteries and lithium-ion battery technology, seeking to deliver quick recharge times and long range, all at a low price. Following the recent joint development agreement with General Motors, SES and GM plan to build a new manufacturing prototype line for a high-capacity battery unit. The new prototyping line will be constructed in Woburn, Massachusetts by 2023.

SES says that it hopes to meet the increasing demand for electric vehicle batteries by optimizing the manufacturing process for “affordable and easily scalable mass production,” with the latest round of investments accelerating the commercialization process.

In related General Motors electric vehicle news, GM recently announced a $2.3 billion investment with LG Chem to build a new battery cell manufacturing plant at the GM Spring Hill Assembly facility in Tennessee. The plant will be owned and operated by Ultium Cells LLC, a joint venture between GM and LG Chem. The Spring Hill battery plant is the second battery production facility announced by GM and LG Chem thus far, the first of which is under construction in the Lordstown region of Ohio.

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Jonathan is an automotive journalist based out of Southern California. He loves anything and everything on four wheels.

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Comments

  1. Sell your stock before Trump pulls the plug in 24.

    Reply
    1. Trump could have done everything when he had both houses of Congress – yet punted..

      If the Democrats won in 2020 with the number of people who voted for Trump – and the fact that ALL of his Supreme Court appointments are against him – and the fact that he did NOTHING to support his followers (other than removing a few regulations, and streamlining processes) – and the fact that his ‘advisors’ are the absolute worst group of lowlifes imaginable – and the fact that rich people got a 35% tax cut and the middle class got 0.5 % – I’m lower middle-class by the way but my federal taxes went UP !!!

      What makes you think he deserves a second chance what with Biden being so ineffectual that he won’t cause nearly the amount of damage initially feared?

      More to the point – how is it REMOTELY POSSIBLE that he could win?

      Reply
  2. America is waiting for GM to release the hydrogen fuel cell cars pickup trucks and commercial vehicles RVs blue gas the hydrogen fuel cell

    Reply
  3. America wants the hydrogen fuel cell cars trucks commercial truck and RVs

    Reply
  4. Hydrogen fuel cell America is waiting GM GM should have out did everybody already

    Reply
  5. Hydrogen fuel-cell pumps have been put in on all American coastlines and all over the richest areas of the world to maintain it only takes (1) minute to fill up with hydrogen fuel , the fuel last for weeks, it is more powerful and more reliable and faster and now it does any battery in the world Plus Battery factories cause too much pollution in disposing of batteries causes too much pollution so all people all over the world have gotten rid of the battery idea

    Reply
  6. Hydrogen fuel-cell pumps I’ve been Puttin On All American coastlines and in all richest areas of the world hydrogen fuel last for weeks, it only takes 2 minutes to fill up with hydrogen fuel it takes Batteries hours to repower plus the pollution of disposable of batteries is awful and the battery plants put out too much pollution as well even China got rid of all batteries

    Reply

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