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Aeva Technologies, Inc. (NYSE: AEVA) is pioneering the next generation of sensing and perception systems through its groundbreaking Frequency Modulated Continuous Wave (FMCW) 4D LiDAR technology. The company’s technology uniquely merges vision, depth, and motion sensors into a single product, providing superior range, resolution, and the ability to measure velocity for every pixel in any weather condition. Aeva’s proprietary 4D LiDAR-on-chip along with its software applications are poised to revolutionize applications from automated driving to consumer electronics, industrial automation, and security.
Aeva’s innovative technology has attracted significant attention and partnerships. In a landmark collaboration, Daimler Truck has selected Aeva's 4D LiDAR for its autonomous commercial vehicle program. This partnership marks Aeva’s first major automotive OEM production win and sets the stage for the integration of Aeva’s sensors into Daimler’s vehicles, facilitating SAE Level 4 autonomous capabilities. The multi-year collaboration, which includes Torc Robotics, aims for a production start by 2026 and full ramp-up by 2027.
The company operates across North America, EMEA, and Asia, deriving the majority of its revenue from North America. Financially, Aeva reported steady increases in revenue, with notable achievements in the first quarter of 2024, including a record number of sensor shipments and solid progress with multiple automotive RFQs, including a successful audit with a global top 10 passenger OEM. Additionally, the company maintains a robust cash position, supporting its continued innovation and market expansion.
Recently, Aeva has also expanded its presence in Europe by establishing an Automotive Center of Excellence (COE) in Germany to support growing momentum with automotive OEM customers. This initiative is led by industry expert Axel Gern, who brings extensive experience in advanced driver assistance systems and autonomous driving. The COE aims to intensify partnerships with automotive OEMs and accelerate the development of next-generation sensing technologies.
As Aeva continues to innovate and expand its market footprint, the company remains committed to transforming autonomy across various industries with its state-of-the-art FMCW technology. For more information, visit www.aeva.com.
Aeva (NYSE: AEVA), a leader in next-generation sensing and perception systems, has announced its plans to report second quarter 2024 results after market close on Wednesday, August 7, 2024. The company will host a conference call and webcast to discuss the results at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day. Investors and interested parties can join the webcast through the company's investor relations website at investors.aeva.com. An archive of the webcast will be available on the same website for 12 months following the call, providing extended access to the discussion of Aeva's financial performance and business updates.
Aeva (NYSE: AEVA) has been selected by Digitale Schiene Deutschland to supply its 4D LiDAR technology for the AutomatedTrain project. This initiative, managed by DB InfraGO AG and funded by the German Federal Ministry of Economic Affairs and Climate Action, aims to trial driverless, automated passenger trains by 2026.
Aeva's 4D LiDAR technology offers high-resolution, long-range performance and instant velocity detection, important for detecting obstacles around train tracks. This technology will be integrated into two regional trains, enabling them to detect surroundings and react to obstacles in real-time. The project involves collaboration with ten partners, including Siemens Mobility and Bosch Engineering.
Aeva's technology allows for accurate positioning even in areas with unreliable GPS signals, enhancing the safety and reliability of automated train operations. The initiative is expected to set new standards for rail automation across Europe.
Aeva (NYSE: AEVA) reported strong first quarter 2024 results with record product shipments to customers, including Daimler Truck, on track with milestones and production timeline, and progress in automotive RFQs. The company established a new Automotive Center of Excellence in Germany. Financially, Aeva had cash, cash equivalents, and marketable securities of $189.3 million, revenue of $2.1 million, GAAP operating loss of $37.3 million, and non-GAAP operating loss of $32.1 million. The company will host a conference call to discuss results.
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