Aeva Selected by Top Global Automotive OEM to Directly Supply LiDAR for its Series Production Program
03 Januar 2024 - 1:00PM
Business Wire
Aeva 4D LiDAR Replaces Incumbent 3D
Time-of-Flight Long-Range LiDAR
Aeva Transitions to Become a Direct Tier 1
Supplier to Automotive OEMs Globally
Aeva® (NYSE: AEVA), a leader in next-generation sensing and
perception systems, announced today that one of the top global
automotive OEMs has selected Aeva as its Tier 1 LiDAR supplier for
its series production vehicle program. To Aeva’s knowledge, the
production win represents one of the largest automotive series
production awards in its class. The selection positions Aeva to
become a trusted direct Tier 1 supplier to automotive OEMs
globally.
“This win is a defining moment for Aeva and the larger automated
driving industry, as it represents one of the largest production
design wins with an OEM transitioning to FMCW technology, and is
Aeva’s first major production win with a top global automotive
OEM,” said Soroush Salehian, Co-Founder and CEO at Aeva. “This is
the culmination of multiple years of diligent effort by the Aeva
team and extensive collaboration and qualification of our 4D LiDAR
in the automotive industry, and we look forward to sharing more
about the significance of this program in the coming weeks.”
The multi-year production program is expected to generate
revenues starting in first quarter of 2024 with production ramp by
mid-decade.
Aeva expects to reveal more details together with the OEM
regarding this major win in early 2024.
About Aeva Technologies, Inc. (NYSE: AEVA)
Aeva’s mission is to bring the next wave of perception to a
broad range of applications from automated driving to industrial
robotics, consumer electronics, consumer health, security and
beyond. Aeva is transforming autonomy with its groundbreaking
sensing and perception technology that integrates all key LiDAR
components onto a silicon photonics chip in a compact module. Aeva
4D LiDAR sensors uniquely detect instant velocity in addition to 3D
position, allowing autonomous devices like vehicles and robots to
make more intelligent and safe decisions. For more information,
visit www.aeva.com, or connect with us on X or LinkedIn.
Aeva, the Aeva logo, Aeva 4D LiDAR, Aeries, and Aeva Ultra
Resolution are trademarks/registered trademarks of Aeva, Inc. All
rights reserved. Third-party trademarks are the property of their
respective owners.
Forward looking statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws. These
forward-looking statements generally are identified by the words
“believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “future,” “opportunity,” “plan,” “may,” “should,”
“will,” “would,” “will be,” “will continue,” “will likely result,”
and similar expressions. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Forward-looking
statements in this press release include, but are not limited to
the timing of revenue and production ramp with a top global
automotive OEM, relationship to the OEM as a Tier 1 supplier and
the timing of additional information about the major automotive
win. Many factors could cause actual future events to differ
materially from the forward-looking statements in this press
release, including, but not limited to: (i) the fact that Aeva is
an early stage company with a history of operating losses and may
never achieve profitability, (ii) Aeva’s limited operating history,
(iii) the ability to implement business plans, forecasts, and other
expectations and to identify and realize additional opportunities,
(iv) the ability for Aeva to have its products selected for
inclusion in OEM products, (v) the ability to manufacture at
volumes and costs needed for commercial programs and (vi) other
material risks and other important factors that could affect our
financial results. Please refer to our filings with the SEC,
including our most recent Form 10-Q and Form 10-K. These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and Aeva assumes no obligation and does not intend to update or
revise these forward-looking statements, whether as a result of new
information, future events, or otherwise. Aeva does not give any
assurance that it will achieve its expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20240103064362/en/
Media: Michael Oldenburg press@aeva.ai
Investors: Andrew Fung investors@aeva.ai
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