SES AI Corporation (“SES AI”) (NYSE: SES), a leader in the development and manufacturing of AI-enhanced high-performance Li-Metal and Li-ion batteries, and Top Material (KOSDAQ: 360070) a leader in advanced materials solutions and end-to-end gigafactory engineering systems for rechargeable batteries and manufacturer of next generation cathode materials in Korea, today announced plans to collaborate to boost cell manufacturing capacity in Korea for drones and urban air mobility (UAM) applications and lay the foundation for compliance with the U.S. National Defense Authorization Act (NDAA).
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Located in Chungju, South Korea, SES AI’s existing factory, established in 2021, supports reliable battery manufacturing for drone applications.
This collaboration is expected to take place at SES AI’s existing factory in Chungju, South Korea, which was established in 2021 with financial support from South Korea’s central government and Chungcheongbuk-do province and the City of Chungju. The facility is notable for producing the world’s first 100Ah lithium-Metal battery for automotive applications in 2021 and 30Ah lithium-Metal battery for UAM applications in 2024.
The collaboration is expected to leverage SES AI’s AI-enhanced, high-energy density and high-power-density lithium-metal and lithium-ion battery technologies, together with Top Material’s gigafactory-scale engineering and manufacturing expertise and Korea-based material and components sourcing. The goal is to build a robust, secure, and cost-efficient battery supply chain that supports compliance with applicable NDAA country-of-origin and supply chain requirements for SES AI’s drone customers.
The collaboration, the primary terms of which have been set out in a non-binding agreement between SES AI and Top Material, is subject to the negotiation and execution of a definitive agreement between the parties, which is targeted for Q1 2026.
“We have operated our Chungju, South Korea facility since 2021 and have worked closely with Top Material on multiple programs over the past several years. They are a trusted and proven partner to help us as we continue to scale our manufacturing capacity to support growing demand across drones and advanced mobility applications,” said Qichao Hu, Founder and CEO of SES AI.
“We are thrilled that SES AI, with its outstanding battery design technology, and Top Material, with its accumulated battery manufacturing expertise, are collaborating to establish a battery production base for drones in Korea. We hope to further expand this partnership in the future and jointly challenge the global market,” said Whan Jin Roh, founder and CEO of Top Material.
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.
About Top Material:
Starting as a cell manufacturer, Top Material can provide top quality electrode fabrication service to customers around the world. With our state-of-the-art technique, we can provide products from various materials such as LFP and NMC. We focus our research on cathode active material to create a next generation battery. We can fabricate the cell down from active materials up to cell performance testing. Always feel free to contact us or visit our website, https://www.topmaterial.co.kr/en/ for more information.
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Forward-Looking Statements
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