Business
Aeva Reports Second Quarter 2024 Results
On Track with Daimler Truck Program Milestones and 2026 Start of Production Timeline Advanced with Global Top 10 Passenger OEM RFQ, Award Decision Expected
About this update from Aeva Technologies, Inc.
[{"type":"text","content":"\nOn Track with Daimler Truck Program Milestones and 2026 Start of Production Timeline\n\n\nAdvanced with Global Top 10 Passenger OEM RFQ, Award Decision Expected This Year\n\n\nTop U.S. National Defense Security Organization Selected 4D LiDAR to Protect Critical Energy Infrastructure\n\n\nFirst Industrial Launch with Nikon On Schedule for Q4 2024\n\n\n MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--\nAeva® (NYSE: AEVA), a leader in next-generation sensing and perception systems, today announced its second quarter 2024 results.\n\n\nKey Company Highlights\n\n\n\nDaimler Truck program is on track with continued scaling of sensor shipments for the OEM’s on-road vehicles. Daimler Truck unveiled its battery electric autonomous Freightliner eCascadia vehicle technology demonstrator equipped with Aeva 4D LiDAR\n\n\n\nStrong momentum in passenger vehicles: continued expectation for a global top 10 OEM RFQ award decision this year; a new collaboration with an additional global top 10 OEM for integration concept of next-generation FMCW LiDAR\n\n\n\nCompleted final validation for the first industrial precision product with Nikon ahead of Aeva deliveries in Q4 2024\n\n\n\nFirst expansion into security with Aeva 4D LiDAR selected by a top U.S. National Defense Security organization to protect critical energy infrastructure\n\n\n\nGermany’s AutomatedTrain program selected Aeva 4D LiDAR to help enable driverless, fully automated passenger train dispatch and parking functionality\n\n\n\nAchieved ISO/IEC 27001:2022 certification of Aeva’s information security management system, demonstrating continued progress on automotive Tier-1 readiness\n\n\n\n“We continue to achieve key milestones on our production programs with Daimler Truck in auto and Nikon in industrial, while also making significant strides on additional automotive opportunities with multiple global top 10 passenger OEMs looking to adopt 4D LiDAR,” said Soroush Salehian, Co-Founder and CEO at Aeva. “We believe the demand for Aeva’s unique FMCW technology across a broad range of applications is only beginning, as evidenced by recent wins in new areas including security, and we see opportunity to continue securing additional program wins in 2024.”\n\n\nSecond Quarter 2024 Financial Highlights\n\n\n\nCash, Cash Equivalents and Marketable Securities\n\n\nCash, cash equivalents and marketable sec...