SES AI Expands in South Korea

SES AI Corp SES has incorporated its subsidiary SES Korea and plans to build a pre-production facility in South Korea.
SES Korea will be SES's second major operation outside of the United States, after SES Shanghai.
SES Korea expects to have approximately 50 employees by the end of 2022.
SES Korea and SES Shanghai Giga will focus on different aspects of supply chain development and different A-sample joint development with auto OEMs.
“Having SES Boston, Shanghai Giga, and now SES Korea gives us access to deep talent pools and the highly efficient ecosystems in South Korea and China,” said CEO Qichao Hu.
Price Action: SES shares closed higher by 1.82% at $5.59 on Thursday.