MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Aeva (NYSE: AEVA), a leader in next-generation sensing and perception systems, today announced a strategic collaboration with Nikon Corporation, a global manufacturer and supplier of metrology and inspection equipment for the industrial automation and metrology markets. The companies will focus on bringing Frequency Modulated Continuous Wave (FMCW) 4D LiDAR with unique micron-level measurement capability to high precision industrial automation and metrology applications.
Nikon is a leading supplier to the growing $10 billion industrial automation and metrology markets, with revenues of approximately $600 million including other small businesses within the segment and leading customers including major global automotive vehicle OEMs, such as BMW, Stellantis and top aerospace manufacturers, among others. The goal of the partnership is to develop next-generation industrial solutions using Aeva’s unique, industry-first 4D LiDAR on chip technology. By leveraging Nikon’s market-leading position in laser radar technology and excellence in industrial precision, Aeva and Nikon expect to accelerate adoption of joint products in industrial automation, metrology and manufacturing applications.
“We are delighted with the opportunity to use Aeva's ground-breaking technology to jointly bring to market metrology solutions that provide our industrial customers with unmatched functionality, combining higher accuracy that is scalable, lower cost, more compact and provides superior performance than current solutions,” said Tadashi Nakayama, CEO of Nikon Metrology, General Manager of Industrial Metrology Business Unit and Corporate Vice President at Nikon.
“This marks a milestone for Aeva’s expansion strategy beyond autonomous driving applications. We’re excited to work closely with a leader like Nikon in an established market with massive growth potential as we accelerate our expansion into industrial applications, targeting product release in 2025,” said Soroush Salehian, Co-Founder and CEO at Aeva. “By leveraging our common core LiDAR chip architecture that we’ve already developed for automotive applications, we can bring industry leading costs to volume scale, which we believe has the potential to upend the growing industrial automation industry.”
“Our 4D LiDAR on chip technology has the capability to provide unparalleled performance through proprietary software on existing hardware,” said Mina Rezk, Co-Founder and CTO at Aeva. “This solution will achieve measurements with micron-level accuracy and will unlock entirely new applications beyond autonomous driving. Nikon is a world leader when it comes to delivering high precision industrial solutions of the highest quality, and we’re thrilled to collaborate to bring our unique technology to industrial applications.”
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 March 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.
Source: Aeva Technologies, Inc.