SES’ Russell 2000 Index Listing Highlights Growing Power of North American Supply Chain
The U.S.’ development of a North American electric vehicle supply chain is continuing to attract the interest of Wall Street, with one Boston-headquartered company being added to the Russell 2000 Index.
SES (NYSE: SES) will join Russell’s ranking, which tracks the largest U.S. companies by market capitalization, beginning on June 26, according to a press release put out by the company, and confirmed by a list of company additions announced by Russell.
Founded by Dr. Qichao Hu in Boston in 2012, SES is developing an advanced Li-Metal battery solution, and using advancements in artificial intelligence to study and analyze data generated from the production process.
Three of the largest automotive giants have invested and partnered with SES: General Motors, Honda, and Hyundai, two of whom had major announcements this past week on new North American EV facilities.
The news of SES’ Russell listing arrives as GM — a longtime pillar of the U.S. automotive industry — secured half of a $442 million financing plan to build an EV facility in Quebec, Canada, according to Bloomberg. Hyundai, meanwhile, announced that it will build out a $4.3 billion EV plant in Georgia, per The New York Times.
“It is a truly fascinating time to be in this sector as the U.S. builds out a new North American supply chain to wean the world off fossil fuels,” Dr. Hu told 360 Magazine through a spokesperson.
