SERES, an automotive technology company with operations in the USA, China, and Japan, announced the successful transition of its Battery Technology division into TeraWatt Technology Inc., effective on Jan. 1, 2020.
All Japan-based members of the former SERES division will continue the development of solid-state battery technologies as employees of TeraWatt Technology, under the leadership of Co-Founder and CEO Dr. Ken Ogata. A top-tier, U.S.-based venture capital firm leads an initial round of venture investment to fund the technology and business development and cell production at TeraWatt Technology. SERES will retain a minority, non-controlling equity stake. SERES CTO Dr. Yifan Tang will also serve as Co-founding Advisor and facilitate collaboration with the newly launched company.
"SERES came to Silicon Valley to incubate promising technologies that help automakers scale electric vehicle production and remove barriers to mass adoption," said Tang. "As SERES focuses on growing its core electric powertrain business, it is also unlocking business value from technical achievements in battery cell development and autonomous driving. As an independent company, TeraWatt Technology can expand its revenue potential by meeting the demand for safe, high-energy density, and low-cost, solid-state batteries in diverse electrified applications beyond automotive."
About SERES
SF Motors Inc. (d.b.a SERES) develops and markets advanced technologies for vehicle electrification, including high-performance battery systems, electric drive units, domain controllers, and vehicle connectivity solutions for global automotive OEMs. SERES technologies will also power the upcoming SERES SF5, a luxury SUV crossover EV jointly developed with its China-based parent company Chongqing Sokon Industry Group Co., Ltd.
Website: www.driveseres.com
Inquiries: rebecca.huang@driveseres.com
About TeraWatt Technology
TeraWatt Technology Inc., a spinoff of SF Motors Inc. (d.b.a Srates) from its Santa Clara headquarters, along with its subsidiary TeraWatt Technology K.K. in Tokyo, Japan.
Website: www.terawatt-technology.com
Inquiries: nagisa.isono@terawatt-technology.com
Related Links
TeraWatt Technology Website
SERES Website
Press Release Service by Newswire.com
Original Source: SERES Completes Transition of Battery Technology Division Into Independent Company
