• SES AI Corporation announced in January 2026 that it is working with Korea’s Top Material to expand battery cell manufacturing for drones and urban air mobility, while also unveiling its MU-1 Molecular Universe platform, a joint venture with Hisun New Materials, and the completed acquisition of UZ Energy to enter the energy storage systems market.
• Together, these moves highlight SES AI’s push to build a broader battery technology ecosystem spanning advanced aviation uses, materials development, and grid-scale energy storage.
• We’ll now examine how the Top Material battery manufacturing collaboration could influence SES AI’s investment narrative and future positioning.

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What Is SES AI's Investment Narrative?

For SES AI, you have to believe in the company as an early-stage battery platform trying to turn rapid revenue growth into a sustainable, profitable business across EV-adjacent, aviation, and energy storage markets. The new collaboration with Top Material, plus MU-1 and UZ Energy, fits that story by broadening SES AI’s addressable uses and giving more ways to monetize its Li-metal technology and software tools. In the near term, though, the main catalysts still look similar: execution against 2025 revenue guidance, progress toward profitability, and clarity on funding needs given past ATM issuance and continuing losses. The Korea manufacturing plan is only at a non-binding stage, so it may not shift the financial picture immediately, but it could modestly improve visibility on demand and regulatory alignment if a definitive agreement lands on schedule.

However, there is one funding-related risk here that investors should not overlook. The valuation report we've compiled suggests that SES AI's current price could be inflated.

Exploring Other Perspectives

Across 11 SES AI fair value estimates from the Simply Wall St Community, views range from about US$1 to a very large US$78 per share, so opinions clearly diverge. When you set that against SES AI’s ongoing losses and reliance on future execution for its investment case, it underlines why you may want to compare several viewpoints before forming your own.

Explore 11 other fair value estimates on SES AI - why the stock might be a potential multi-bagger!

Build Your Own SES AI Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your SES AI research is our analysis highlighting 1 key reward and 1 important warning sign that could impact your investment decision.
• Our free SES AI research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate SES AI's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.