SES AI is transitioning to B samples and expects to sign a joint development agreement with an OEM customer. The company reported a net loss of $0.04 per share and ended the quarter with $342 million in cash, cash equivalents, and marketable securities.
SES AI expects to sign a B-sample joint development agreement with an OEM customer in the next few weeks.
The company's advancements address safety issues in both Li-ion and Li-Metal batteries.
SES AI completed its second testing bunker to test new battery technologies.
The company is on track for the transition to B-samples by the end of this year.
SES AI updated guidance for total cash usage in 2023 is now $85 - $105 million, comprised of cash usage from operations of $65 - $75 million and for capital expenditures in the range of $20 - $30 million.
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