SES AI Announces 'All-in on AI' Strategy at Second Quarter 2024 Earnings

Strong balance sheet provides liquidity into 2027, AI solutions now targeted as the future business model of electric transportation

Mar. 23, 2026 at 3:37am

Got story updates? Submit your updates here. ›

SES AI Corporation (NYSE: SES), a global leader in the development and manufacturing of high-performance Li-Metal batteries, today announced its new strategy of 'All-in on AI' at its second quarter 2024 business results. The company is focusing on three AI solutions for batteries - AI for Manufacturing, AI for Safety, and AI for Science - which it believes represent exciting, sooner-than-expected revenue streams and the future business model of electric transportation. SES AI also updated its full year 2024 guidance, lowering its cash usage forecast to a range of $100 million to $120 million.

Why it matters

SES AI's shift to an 'All-in on AI' strategy signals the company's belief that artificial intelligence will be a key driver of innovation and profitability in the electric vehicle and battery industries. The new AI solutions could accelerate the commercialization, time to revenue, and profitability of Li-Metal batteries for EVs, urban air mobility, drones, and other applications.

The details

SES AI is introducing three new AI solutions as part of its 'All-in on AI' strategy: AI for Manufacturing, AI for Safety, and AI for Science. The company believes these solutions can generate sooner-than-expected revenue streams and represent the future business model of electric transportation. With a strong balance sheet providing liquidity into 2027, SES AI is also updating its full year 2024 cash usage guidance to a range of $100 million to $120 million, down from the previous range of $110 million to $130 million.

  • SES AI announced its 'All-in on AI' strategy at its second quarter 2024 business results on July 29, 2024.
  • The company will hold a conference call later today (July 29, 2024) at 5:00 p.m. Eastern Time.

The players

SES AI Corporation

A global leader in the development and manufacturing of high-performance Li-Metal batteries.

Dr. Qichao Hu

Founder and CEO of SES AI.

Jing Nealis

Chief Financial Officer of SES AI.

Got photos? Submit your photos here. ›

What they’re saying

“AI is changing everything. We believe our AI for Manufacturing, AI for Safety, and AI for Science solutions represent exciting, sooner-than-expected revenue streams, and the future business model of electric transportation.”

— Dr. Qichao Hu, Founder and CEO

“We continue to be prudent with our cash and expense management. With the actions we implemented during the quarter, we are updating our full year 2024 guidance to account for lower total cash usage in the range of $100 million to $120 million.”

— Dr. Qichao Hu, Founder and CEO

What’s next

SES AI will hold a conference call later today at 5:00 p.m. Eastern Time to discuss its second quarter 2024 results and 'All-in on AI' strategy.

The takeaway

SES AI's shift to an 'All-in on AI' strategy demonstrates the company's belief that artificial intelligence will be a key driver of innovation and profitability in the electric vehicle and battery industries. The new AI solutions could accelerate the commercialization and profitability of Li-Metal batteries, positioning SES AI as a leader in the future of electric transportation.