Aeva Technologies, Inc. · NASDAQ:AEVA
Aeva Technologies — InterPrivate Acquisition — SPAC Merger (February 2021)
33 slides from Aeva Technologies's SPAC merger presentation, Feb 17, 2021
Slide 1: Investor Presentation February 2021
Investor Presentation February 2021
Slide 2: Legal Disclaimer
L egal Disclaimer 2 Disclaimers and Other Important Information This presentation (this “Presentation”) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination between Aeva, Inc. (“
Slide 3: Legal Disclaimer (Cont'd)
L egal Disclaimer (Cont’d) 3 Use of Projections This Presentation contains projected financial information with respect to Aeva. Such projected financial information constitutes forward - looking information, and is for illustrative purposes only and should not be relied upon as necessarily being in
Slide 4: Perception for All Devices
Aeva Confidential - Do Not Share Without Written Permission Vision Reflectivity Dep t h Velocity 10 +7 m/s 10 +10 m/s 10 +13 m/s 10 - 10 m/s 10 - 10 m/s 10 - 7 m/s 10 - 13 m/s 1 0 0 m/s Perception for All Devices
Slide 5: Key Investment Highlights
K ey Investment Highlights 5 • World’s first 4D LiDAR on a Chip combining instant velocity, long range, low power consumption at industry leading costs • Proven silicon photonics technology, enabling mass production scale across broad applications • The “end state” for automotive applications and th
Slide 6: Aeva's Experienced Team
A eva’s Experienced Team Founded in 2017 by former leaders from Apple and Nikon Soroush Salehian CEO and Co - Founder • Head of Sensing Program Management at Apple SPG • Led System Program Management for Apple Watch 1 • Founder at BlueLibris (Acq’d) - wearable health sensing Product • Stanford Mecha
Slide 7: Aeva's Rapid Pace of Breakthrough Technology To Market
Aeva’s Rapid Pace of Breakthrough Technology To Market BUSINESS TECHNOLOGY Revealed ZF Production Collaboration to bring first 4D LiDAR to auto mass scale Founded By Soroush Salehian and Mina Rezk Revealed Investment from VW Porsche SE Announced First 4D LiDAR Fully Integrated on Chip Released A - S
Slide 8: Evolution of Sensing for Machine Perception
E volution of Sensing for Machine Perception Sensing Requirement Camera Rada r Legacy 3D LiDAR (ToF) Other LiDARs today Aeva 4D LiDAR IN E R T I A L MOTION REFLECTIVITY DE P T H • Machine perception has evolved from using basic vision sensors to multiple sensing solutions for new capability and safe
Slide 9: Massive Opportunity Across Multiple Large Markets
M assive Opportunity Across Multiple Large Markets Contracted Projects Underway in A u t o m o t i v e… 9 Sources: Gartner, IDC, Deloitte, IHS Markit, International Federation of Robotics, Aeva estimates A u t o m o ti v e … Drive Expansion into Proven Applications Using 4D LiDAR Technology Consumer
Slide 10: Redefining Perception for Consumer Applications
R edefining Perception for Consumer Applications 10 • 4D LiDAR Chip unlocks perception across devices – 6x Longer Range allows for Augmented Reality and Virtual Reality in large open spaces – Micrometer depth precision provides superior resolution for high definition 3D mapping – No sunlight degrada
Slide 11: Groundbreaking Technology
Groundbreaking Technology
Slide 12: Differentiated 4D LiDAR Core Design
D ifferentiated 4D LiDAR Core Design... 12 x Instant Velocity for every pixel • Provides unprecedented perception capability x Free from all interference (LiDAR or Sun) • Drives mass market adoption x 100x higher sensitivity • Enables ultra long range of detection at a fraction of the power x First
Slide 13: Underpinned by Proprietary Breakthrough Technology
… Underpinned by Proprietary Breakthrough Technology… 13 Custom Semiconductor Fiberless Laser Perception Software Custom Receiver Silicon Photonics Optical Engine ASIC Processor with Unique DSP Super Pixel Density Per Beam • Proprietary semiconductor laser based on proven processes • 30x Lower costs
Slide 14: Solves FMCW Limitations
… that Solves FMCW Limitations Point density Processing time Laser/transceiver count Po w er Manufacturing Scale Cost Millions of pixels per second per beam 5x faster object detection versus legacy 3D LiDAR Low beam count, fiberless semiconductor laser Lower power due to lower transceiver count and
Slide 15: Only Solution Meeting Next-ADAS and AV Requirements at Cost
O nly Solution Meeting Next - ADAS and AV Requirements at Cost Automotive Requirements Next - ADAS and AV Requirement Automotive Grade Automotive / Tier - 1 Yes Competitor 1 In House Dev Competitor 2 In House Dev Competitor 3 Yes Competitor 4 Yes Range @ 10% (m) >200 250 220 250 110 / 170 80 Best Re
Slide 16: Deep Competitive Moats
D eep Competitive Moats Mass Scalability at Affordable Costs • Proven semiconductor manufacturing enables rapid production scalability at low costs • Two top Tier - 1 partnerships with proven automotive - grade quality and large distribution scale Unique Market Opportunities • 4 D LiDAR chip enables
Slide 17: Aeva 4D LiDAR Technology Snapshot
A eva 4D LiDAR Technology Snapshot Long Range and High Pixel Density 1000x Higher Dynamic Range Reflectivity Measure Instant Motion for Every Pixel High Definition Camera 10 +10 m/s - 12 m/s Aeva 4D LiDAR 17
Slide 18: Creative Partnerships and Commercialization
Aeva Confidential - Do Not Share Without Written Permission With Creative Partnerships and Commercialization
Slide 19: Partnering with Automotive Leaders to Bring 4D LiDAR to Market
P artnering with Automotive Leaders to Bring 4D LiDAR to Market • Investments in Aeva in 2018 and 2019 from Porsche SE, majority owner of the VW Group • Aeva is engaged with the VW Group on LiDAR for next - generation vehicle platforms • TuSimple is a leader in self - driving truck technology and pa
Slide 20: VW Group Validation for Aeva's Performance and Scalability
“ LiDAR is a key enabling technology when it comes to providing sensing and perception capability required to achieve highly automated driving at scale . However, a LiDAR that is high enough performance to meet the requirements for autonomy and at affordable cost has been historically very challengi
Slide 21: ZF Validation for Aeva's Performance and Scalability
z ZF V alidation for Aeva’s Performance and Scalability “ Aeva’s unique FMCW 4 D LiDAR combines direct velocity measurements with long range performance, and is built on silicon chip scale, making it the right choice for autonomous driving . 4 D LiDAR is also immune to interference, which is importa
Slide 22: DENSO Validation for Aeva's Performance and Scalability
z D E N S O V alidation for Aeva’s Performance and Scalability “ Aeva’s FMCW 4 D LiDAR solution addresses the missing link for perception in automated driving and advanced driver - assistance systems, with its unique ability to meet the stringent automotive performance and safety requirements . ” Ka
Slide 23: TuSimple Validation for Aeva's Performance and Scalability
z TuSimple V alidation for Aeva’s Performance and Scalability “ Aeva’s 4 D LiDAR solution provides a unique ability to measure instant velocity along with distance, and at longer ranges , which when combined with the other sensors in our technology stack, provides complementary capabilities to our a
Slide 24: Illustrative Development Timeline to Deploy Global Scale by 2024
I llustrative Development Timeline to Deploy Global Scale by 2024 Utilizing production ready automotive Tier - 1 manufacturing partners for rapid and global scale to customers by 2024 Series Development Production at Automotive Plant Start of Production Auto - B Sample Development Auto - B Productio
Slide 25: Bringing Perception to Broad Applications
B ringing Perception to Broad Applications Diverse Applications Powerful Software Stack Silicon Photonics Chip Custom Processor Scanning Proprietary Hardware Developed On Proven Semiconductor Process Unprecedented Raw Data De t e cti o n Module C l a ssi f ication Module Motion State Estimation Devi
Slide 26: Financial Summary
Aeva Confidential - Do Not Share Without Written Permission Financial Summary
Slide 27: Robust Growth Trajectory: Estimated Annual Revenue
$5 $ 1 1 $35 $75 $286 $880 2020E 2021E 2022E 2023E 2024E 2025E 2025E Revenue Breakdown By Vertical By Type Annual Revenue ($MM) R obust Growth Trajectory Au to 78% Cons u m e r 12% I n du s tri a l 7% Security 3% Estimated Annual Revenue (2020 - 2025) Solutions Revenue 96% NRE Revenue 4% • We sell p
Slide 28: Attractive Margin and Free Cash Flow Profile
A ttractive Margin and Free Cash Flow Profile Estimated Gross Profit $552 Estimated Free Cash Flow $343 ($ 2 8) $15 ($69) ($91) ($100) 2020E 2021E 2022E 2023E 2024E 2025E A d j . EB I T DA L e s s CapEx ($MM) Estimated Adjusted EBITDA ($ 2 7) ($88) 2 0 2 3 E 2 0 2 4 E 2 0 2 5 E $21 ($65) 2 0 2 1 E (
Slide 29: Path to ~$3Bn 2030E Adjusted EBITDA
Aeva is Uniquely Positioned to Realize Broad Adoption of Perception Across Devices by 2030 P ath to ~$3Bn 2030E Adjusted EBITDA Potential Long - Term Growth Vectors 2030E Targets 29 • Further adoption of L2+/3 ADAS and L4/5 Autonomy in passenger vehicles, trucks and mobility platforms • Proliferatio
Slide 30: Transaction Overview
Aeva Confidential - Do Not Share Without Written Permission Transaction Overview
Slide 31: Transaction Overview
T ransaction Overview • The transaction will be funded by a combination of $243MM 1 cash held in trust and $320MM in PIPE proceeds • All - primary transaction; existing Aeva shareholders, including management, are rolling all of their equity and collectively own 74% of the pro forma company at closi
Slide 32: Pro Forma Equity Ownership
P ro Forma Equity Ownership Pro Forma Post Money Ownership 1,4 All Aeva preferred and common equity holders received stock in public company Proceeds from transaction used to capitalize balance sheet for $511MM Aeva will use proceeds to primarily fund: — Operating expenses incurred to support
Slide 33: Perception for All Devices
Perception for All Devices
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