By ATN Editorial Team
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.
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