Multi-year supply agreement will bring Aeva’s
market-leading 4D LiDAR technology to autonomous trucks, starting
in 2022 with the global deployment of Plus’s driver-in product
followed by its fully driverless system
Plus (formerly Plus.ai), a global provider of self-driving truck
technology, has selected Aeva (NYSE: AEVA), a leader in
next-generation sensing and perception systems, to supply
automotive grade long-range 4D LiDAR for the production of
driver-in and fully autonomous trucks powered by the PlusDrive
system. Aeva’s high performance LiDAR will help Plus autonomous
trucks sense their environment clearly at long ranges, shorten
response time in safety-critical situations, and address edge cases
leveraging Aeva’s proprietary instant velocity data.
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Plus autonomous truck equipped with Aeva
4D LiDAR (Photo: Business Wire)
Aeva and Plus have been collaborating since 2019 to equip and
validate Plus’s autonomous trucking system with Aeva Frequency
Modulated Continuous Wave (FMCW) 4D LiDAR. With today’s agreement,
Plus will use Aeva’s 4D LiDAR sensors to augment its long-range
perception in Plus’s commercially available driver-in product
starting in late 2022 and leading to its fully autonomous driving
system.
Plus is partnered with some of the world’s largest truck makers
and freight carriers. Production and delivery of its driver-in
autonomous trucking solution, PlusDrive, to customers started in
early 2021, with plans for more than 100,000 vehicles to be in
service by the end of 2025. The PlusDrive solution is designed for
fleets that are looking to improve driver retention, enhance
safety, reduce fuel costs, and lower their carbon emissions.
“Our global deployment of automated trucks to fleets
commercially at scale requires leading technology that is
automotive grade, high performance, and practical. We selected Aeva
as our production partner because its 4D LiDAR complements Plus’s
state-of-the-art long range perception by adding important instant
velocity detection for the safe operation of autonomous trucks, and
Aeva shares our commitment to bring autonomous trucks to market,”
said Shawn Kerrigan, COO and Co-founder of Plus.
Heavy trucks take much longer to stop than passenger cars.
Therefore, an automated trucking sensor system needs to detect
objects, place them in lanes, and assign an accurate velocity at
very long ranges. Aeva’s 4D LiDAR senses precise velocity and
position for each point, even at distances over 500 meters away.
The combination of Aeva’s 4D LiDAR and Plus’s proprietary autonomy
stack addresses many edge cases, such as previously unseen
obstacles that may confound deep neural networks in the perception
stack.
“We are pleased that a leader like Plus recognizes the
unparalleled performance of our unique 4D LiDAR sensors,” said
Soroush Salehian, Co-founder and CEO at Aeva. “This production
partnership validates Aeva’s technology as the world’s first
automotive 4D LiDAR for autonomous trucking and we look forward to
supporting Plus as they ramp up production of their automated
trucks.”
About Plus
Plus is a global leader in autonomous driving technology for
long-haul trucking, headquartered in Silicon Valley. Plus is
developing high-performance full-stack Level 4 autonomous driving
technology to enable driverless trucks. Plus’s first commercial
product, PlusDrive, is a driver-in solution that supports drivers
to make long-haul trucking safer, more efficient, more comfortable,
and more sustainable. PlusDrive is already being delivered to
world-class fleets and truck manufacturers. For more information,
please visit www.plus.ai or follow us on LinkedIn or YouTube.
About Aeva Technologies, Inc. (NYSE: AEVA)
Founded in 2017 by former Apple engineers Soroush Salehian and
Mina Rezk, and led by a multidisciplinary team of engineers and
operators experienced in the field of sensing and perception,
Aeva’s mission is to bring the next wave of perception technology
to broad applications from automated driving to consumer
electronics, consumer health, industrial robotics, and security.
For more information, visit www.aeva.com.
Aeva®, the Aeva logo and 4D LiDAR 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. 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 ability to maintain the listing of Aeva’s
securities on the New York Stock Exchange, (ii) the price of Aeva’s
securities, which may be volatile due to a variety of factors,
including changes in the competitive and highly regulated
industries in which Aeva plans to operate, variations in
performance across competitors, changes in laws and regulations
affecting Aeva’s business and changes in the combined capital
structure, (iii) the ability to implement business plans,
forecasts, and other expectations and to identify and realize
additional opportunities, (iv) the risk of downturns and the
possibility of rapid change in the highly competitive industry in
which Aeva operates, (v) the risk that Aeva and its current and
future collaborators are unable to successfully develop and
commercialize Aeva’s products or services, or experience
significant delays in doing so, (vi) the risk that Aeva may never
achieve or sustain profitability; (vii) the risk that Aeva will
need to raise additional capital to execute its business plan,
which many not be available on acceptable terms or at all; (viii)
the risk that Aeva experiences difficulties in managing its growth
and expanding operations, (ix) the risk that third-parties
suppliers and manufacturers are not able to fully and timely meet
their obligations, (x) the risk of product liability or regulatory
lawsuits or proceedings relating to Aeva’s products and services,
(xi) the risk that Aeva is unable to secure or protect its
intellectual property; and (xii) the effects of the ongoing
coronavirus (COVID-19) pandemic or other infectious diseases,
health epidemics, pandemics and natural disasters on Aeva’s
business. The foregoing list of factors is not exhaustive. You
should carefully consider the foregoing factors, and for a further
discussion of the material risks and other important factors that
could affect our financial results, please refer to our filings
with the SEC, including our Form 10-Q for the quarter ended June
30, 2021. 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/20211110005564/en/
Lauren Kwan pr@plus.ai
Michael Oldenburg press@aeva.ai
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