SES AI Charts Path to Commercialization Amid Q1 2025 Financial Update

SES AI, a developer of Li-Metal hybrid batteries for electric vehicles (EVs), released its Q1 2025 financial results, showcasing a strategic push toward commercialization despite revenue challenges. The company reported zero revenues for the quarter and a net loss of $33 million, slightly improved from the $36.3 million loss in Q1 2024. Cash and equivalents totaled $236 million, providing ample runway for continued R&D and pilot production.

CEO Qichao Hu emphasized meaningful progress, including the delivery of A-sample batteries to automotive partners like Hyundai, Honda, and GM — a key milestone in the path toward full commercialization of its next-gen EV battery technology. SES also expanded its partnership with GM and started operations at its new SES Korea facility, enhancing manufacturing capacity and global collaboration.

While the company has yet to recognize commercial revenue, its strengthened industry alliances, technology milestones, and disciplined cash usage point to a well-executed roadmap. SES AI remains focused on transitioning from prototype to mass production, with further A-sample validations and the upcoming B-sample marking key upcoming milestones.