Aeva Awarded Top 10 Passenger OEM Development Program for Next-Generation Global Production Vehicle Platform

Development Program Uses Recently Announced Aeva Atlas Ultra 4D LiDAR; Additional Letter of Intent Received from OEM for Large-Scale Production Program Award This Year

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Aeva^® (Nasdaq: AEVA), a leader in next-generation sensing and perception systems, announced today that a global top 10 passenger OEM has awarded Aeva a development program for its next-generation global vehicle platform.

Additionally, Aeva has received a letter of intent from the OEM for a large-scale multi-year production program award opportunity this year, which includes multiple vehicle models across the OEM’s global platform. The development program focuses on Aeva’s recently announced Aeva Atlas™ Ultra 4D LiDAR sensor, with Atlas Ultra SOP targeted for 2027.

The win builds on Aeva’s momentum as a trusted direct Tier 1 supplier to other top automotive OEMs and autonomous vehicle developers globally, including Aeva’s ongoing production program with Daimler Truck, one of the world’s leading commercial vehicle manufacturers.

“This win is a key milestone in our ongoing collaboration with a top 10 passenger OEM and is a major validation of the capabilities of our new Atlas Ultra 4D LiDAR sensor with its slim design making it ideal for seamless vehicle integration,” said Soroush Salehian, Co-Founder and CEO at Aeva. “This further reinforces Aeva’s position as the leading supplier of next-generation sensing solutions for automated driving. It also represents another major automotive manufacturer moving to FMCW technology to expand its operational design domain and enable highway-speed Level 3 automation. We believe these trends are just beginning and will ultimately benefit the automotive industry and Aeva as the emerging leader in the market.”

Aeva expects to share more details regarding this major achievement during its quarterly results report today.

About Aeva Technologies, Inc. (Nasdaq: 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 X or LinkedIn.

Aeva, the Aeva logo, Aeva 4D LiDAR, Aeva Atlas, Aeries, Aeva Ultra Resolution, Aeva CoreVision, and Aeva X1 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. 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. These forward-looking statements include, but are not limited to expectations about our product features, performance, our relationship with the global top 10 passenger OEM mentioned in this press release, and the timing of a definitive production agreement, if any, and of Atlas Ultra SOP. 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 fact that Aeva is an early stage company with a history of operating losses and may never achieve profitability, (ii) Aeva’s limited operating history and limited history of shipping significant product volumes, (iii) the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities, (iv) the ability for Aeva to have its products selected for inclusion in OEM products, (v) the ability to manufacture at volumes and costs needed for commercial programs, (vi) the need to conclude definitive agreements for production, (vii) that any programs into which our products may be designed will result in significant end customer sales, (viii) unforeseen project delays or product issues, such as difficulties or delays in shipping, manufacturing or installation, and (ix) other material risks and other important factors that could affect our financial results that are further described in our filings with the SEC. Please refer to our filings with the SEC, including our most recent Form 10-Q and Form 10-K. 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.