SES AI Corporation (NYSE: SES), a global leader in the development and manufacturing of high-performance Li-Metal batteries, has released its business results for the third quarter of 2024, ending September 30. A Letter to Shareholders from Founder and CEO Dr. Qichao Hu and Chief Financial Officer Jing Nealis is now available on the Company’s Investor Relations website, providing insights into recent developments and quarterly performance.
“During the third quarter, SES AI achieved several key milestones, including establishing a revenue pipeline in urban air mobility (UAM) and drone markets, particularly with one of the largest wireless communication providers, SoftBank. Additionally, we successfully passed the GB38031-2020 global EV industry safety tests for our 100Ah Li-Metal cells, marking a significant advancement towards C-samples and production initiation for electric vehicles,” stated Dr. Qichao Hu. “Our commitment to our ‘All-in on AI strategy’ is driving our success, with our first revenue from AI-accelerated battery material discovery anticipated in the fourth quarter of 2024.”
“We remain diligent in managing our cash and expenses. Based on the actions implemented during the quarter, we are revising our full-year 2024 guidance to reflect a reduction in total cash usage, now projected between $80 million and $95 million,” Hu added.
The Company will host a conference call today at 5:00 p.m. Eastern Time.
A live webcast of the conference call can be accessed through SES’s Investor Relations website at SES AI Investor Relations. For those wishing to register in advance for the call, please visit registration link.
Participants can also join the call by phone using the following numbers:
- United States (Toll-Free): +1-833-470-1428
- International: +1 404-975-4839
- Access Code: 310099
A replay of the webcast will be available shortly after the call at SES AI Events and Presentations.
About SES AI:
SES AI Corp. (NYSE: SES) is at the forefront of revolutionizing global electric transportation, both on land and in the air, with its cutting-edge Li-Metal batteries. As the first battery company to leverage superintelligent AI across all facets of its operations—including research and development, materials sourcing, cell design, engineering, manufacturing, and battery health and safety monitoring—SES AI is accelerating its innovation. Founded in 2012, the company is headquartered in Boston, with operations in Singapore, Shanghai, and Seoul. For more information, visit SES.AI.
SES AI may utilize its website to distribute material company information. Investors are encouraged to monitor this channel, along with SES AI’s press releases, SEC filings, and public conference calls and webcasts for important financial and company updates.
