Aeva Opens Asia Pacific Office and Hires Industry Veteran to Lead Sales of 4D LiDAR

Rhea-AI Summary

Aeva, a leader in sensing and perception systems, has appointed Barrs Lang as Vice President of Global Sales to enhance its go-to-market strategy for 4D LiDAR sensors. This strategic hire comes alongside the opening of a new office in China, aimed at expanding Aeva's presence in the Asia Pacific market. Lang brings over 15 years of industry experience, previously serving as VP of Sales at Ouster. This expansion reflects Aeva’s commitment to meet the growing demand for its innovative sensing technologies.

Positive

• Appointment of industry executive Barrs Lang is expected to accelerate sales and market strategies.
• Expansion into China will help broaden Aeva's global footprint and deepen customer relationships in Asia Pacific.
• Increasing demand for Aeva's 4D LiDAR technology could drive future revenue growth.

Negative

• Potential risks associated with entering the competitive Asia Pacific market.
• Concerns over the ability to maintain a consistent sales strategy with new leadership.

Barrs Lang Joins as Vice President of Global Sales; New China Office Expands Aeva’s Reach in Asia Pacific Market

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Aeva® (NYSE: AEVA), a leader in next-generation sensing and perception systems, today announced the addition of LiDAR industry executive Barrs Lang to lead sales and accelerate go-to-market strategy for Aeva’s next-generation FMCW 4D LiDAR™ sensors. Aeva also opened its first office in China to broaden its reach and deepen customer relationships across the Asia Pacific region.

Barrs Lang, Vice President of Global Sales at Aeva (Photo: Business Wire)

“We are excited to welcome Barrs to the Aeva team as customer demand for our 4D LiDAR platform continues to grow with the recent introduction of our next generation Aeries II sensor,” said Soroush Salehian, Co-Founder and CEO at Aeva. “Aeva’s expansion into Asia Pacific allows us to further broaden our global presence and position Aeva to respond to the growing market demand for 4D LiDAR across a wide variety of perception applications.”

As an executive with more than 15 years of experience in sales, Barrs Lang joins Aeva as Vice President of Global Sales. Previously he was Vice President of Sales for the Americas at Ouster where he was responsible for the company’s strategic customers across the mobility, industrial automation, and robotics industries. Prior to that, he was Director of Sales at Finisar Corporation, a global technology leader of fiber optic subsystems and components. In his new position, Mr. Lang will lead sales and accelerate Aeva’s go-to-market plans for mass market applications in non-automotive industries worldwide.

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 Twitter or LinkedIn.

Aeva, the Aeva logo, 4D LiDAR, Aeries, Ultra Resolution, 4D Perception, and 4D Localization 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 may 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-K for the year ended December 31, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220427005421/en/

Media:

Michael Oldenburg

press@aeva.ai

Investors:

Andrew Fung

investors@aeva.ai

Source: Aeva Technologies, Inc.

FAQ

Who is Barrs Lang and what is his role at Aeva?

Barrs Lang has been appointed as the Vice President of Global Sales at Aeva, where he will lead the sales strategy for their 4D LiDAR sensors.

What is the significance of Aeva's new office in China?

The new office in China aims to enhance Aeva's presence and customer relationships across the Asia Pacific market, responding to growing demand for its products.

How does Barrs Lang's experience benefit Aeva?

With over 15 years of sales experience in the LiDAR industry, Barrs Lang is expected to strengthen Aeva's go-to-market strategy and drive sales growth.

What technologies does Aeva focus on?

Aeva specializes in next-generation sensing technologies, particularly their innovative 4D LiDAR sensors that integrate key components onto a silicon photonics chip.

What market demand is Aeva responding to with these changes?

Aeva is addressing the increasing demand for 4D LiDAR technology across various applications, including mobility and industrial automation.