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MOUNTAIN VIEW, Calif. & PORT MELBOURNE, Australia - Aeva Technologies, Inc. (NASDAQ: AEVA), known for its advanced sensing and perception systems, has been selected by Sensys Gatso Australia as the exclusive supplier of LiDAR technology for its mobile speed enforcement solutions. The partnership aims to enhance road safety in Australia by incorporating Aeva’s 4D LiDAR into Sensys Gatso’s speed detection products.
Sensys Gatso, a global leader in traffic enforcement solutions, will integrate Aeva’s Atlas 4D LiDAR as a secondary speed verification tool alongside its primary radar detection technology. This collaboration is expected to provide a more robust and reliable speed enforcement mechanism, which can be deployed in various locations across Australia.
Enzo Dri, Managing Director of Sensys Gatso Australia, emphasized the company’s dedication to leveraging technology to improve traffic behavior and ensure safer road travel. Aeva’s Co-Founder and CEO, Soroush Salehian, also commented on the partnership, highlighting the increasing demand for Aeva’s industrial solutions and expressing enthusiasm for the upcoming deployment of their LiDAR-based technology in Australia.
Aeva’s mission is to advance perception capabilities across multiple applications, from autonomous vehicles to industrial robotics. The company’s 4D LiDAR sensors are distinctive in their ability to detect instantaneous velocity in addition to 3D positioning, which is critical for autonomous systems to make informed and safe decisions.
The announcement is based on a press release statement and follows Aeva’s commitment to enhancing safety and autonomy through its innovative sensing technology. While Aeva and Sensys Gatso anticipate a successful implementation of the LiDAR technology in Australia, it is important to note that forward-looking statements are subject to various risks and uncertainties, and actual results may differ materially from expectations.
In other recent news, Aeva Technologies reported its financial results for the fourth quarter of 2024, revealing a full-year revenue of $9.1 million, consistent with a non-GAAP operating loss of $123.2 million from the previous year. The company aims for a revenue target of $15-18 million in 2025, reflecting a significant growth forecast. Aeva is also focusing on reducing operating expenses by 10-20% in the coming year, supported by its strong liquidity position of $237 million. The company has formed strategic partnerships with Daimler Truck and SICK AG, which are expanding, and it unveiled the advanced Atlas Ultra LiDAR at CES. Morgan Stanley recently updated its outlook on Aeva, increasing the price target to $5.22 while maintaining an Equalweight rating. The firm’s analyst, Joseph Moore, noted Aeva’s progress and potential for significant market impact, despite acknowledging the speculative nature of its revenue streams. These developments highlight Aeva’s strategic advancements and robust growth plans.
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