DBusiness Magazine
GM Leads Funding Round for EV Battery Company
Detroit-based General Motors is leading a $139 million Series D funding round for Boston’s SES, which develops and manufactures Li-Metal rechargeable batteries for electric vehicles.
GM is leading a $139 million Series D funding round for SES, which creates Li-Metal rechargeable batteries for electric vehicles. // Image courtesy of SES
Detroit-based General Motors is leading a $139 million Series D funding round for Boston’s SES, which develops and manufactures Li-Metal rechargeable batteries for electric vehicles.
SES delivers batteries it says offers a faster charge and longer range at a lower price. Its manufacturing process is optimized for scalable mass production.
SES Completes Series D Funding With General Motors Support
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SES Completes Series D Funding Round led by General Motors
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General Motors leads $139 million investment into lithium-metal battery developer, SES
General Motors is joining the list of big automakers picking their horses in the race to develop better batteries for electric vehicles with its lead of a $139 million investment into the lithium-metal battery developer, SES.
Volkswagen has QuantumScape; Ford has invested in SolidPower (along with Hyundai and BMW); and now with SES’ big backing from General Motors most of the big American and European automakers have placed their bets.
“We are beyond R&D development,” said SES chief executive Hu Qichao in an interview with TechCrunch. “The main purposes of this funding is to, one, mprove the key material, this lithium metal electrolyte on the anode side and the cathode side, and, two, to improve the scale of the current cell from the iPhone battery size to the size that can be used in cars.”