Aeva and Daimler Truck expand LiDAR production partnership

MOUNTAIN VIEW, Calif. - Aeva (NASDAQ:AEVA), a technology company whose stock has surged over 500% in the past six months according to InvestingPro data, and Daimler Truck North America announced Wednesday an expanded partnership to increase production of Aeva’s 4D LiDAR technology for autonomous vehicles.

Under the strengthened collaboration, Daimler Truck is providing additional non-recurring funding to support Aeva’s development as it moves toward series production. In response to growing demand, Aeva plans to install production capacity of up to 200,000 LiDAR units annually in North America. The company’s strong financial position, with a current ratio of 2.88 and minimal debt on its balance sheet, positions it well for this expansion.

The partnership builds on Aeva’s previous selection as the production LiDAR supplier for Torc Robotics, an independent subsidiary of Daimler Truck AG, for its SAE Level 4 autonomous Freightliner Cascadia trucks. The first autonomous-ready Cascadia trucks equipped with Aeva’s sensors are now operating on public roads in Texas.

"This investment enables us to accelerate delivering high-performance sensing capabilities critical for autonomous freight at commercial scale," said Soroush Salehian, Co-Founder and CEO at Aeva.

Joanna Buttler, General Manager of Product Strategy and Market Development at Daimler Truck North America, noted that the "performance, reliability, and scalability of Aeva’s 4D LiDAR technology will make it a key component" of their autonomous truck strategy.

Unlike traditional LiDAR sensors that use high power laser pulses, Aeva’s Frequency Modulated Continuous Wave technology uses a low power continuous laser beam to simultaneously measure range and velocity with high resolution at distances up to 500 meters.

The announcement represents another step in Aeva’s development of next-generation perception systems and Daimler Truck’s efforts to advance autonomous freight transportation, according to the company’s press release statement. With revenue growth of 95.9% in the last twelve months and analysts projecting continued sales growth, InvestingPro subscribers can access 15+ additional exclusive insights and detailed financial metrics about Aeva’s growth trajectory and market position.

In other recent news, Aeva Technologies has achieved several notable milestones. The company recently held its 2025 annual meeting, where shareholders elected two Class I directors and ratified Deloitte & Touche LLP as its independent auditor for the fiscal year ending December 31, 2025. Additionally, shareholders approved the compensation of Aeva’s executive officers in a non-binding advisory vote. Aeva has also secured the Trusted Information Security Assessment Exchange (TISAX) certification, meeting stringent automotive security standards set by the German Association of the Automotive Industry. This certification is expected to strengthen Aeva’s position in the European automotive market.

In a strategic collaboration, Aeva has partnered with Swiss company Loxo to integrate its 4D LiDAR technology into Loxo’s autonomous vehicle fleet, enhancing the vehicles’ sensing and navigation capabilities. Furthermore, Aeva’s 4D LiDAR technology has been selected by Airbus UpNext for the Optimate project, which aims to improve aircraft taxiing automation. This project involves testing Aeva’s technology on an Airbus A350-1000 aircraft and an electric truck at Toulouse-Blagnac airport.

Canaccord Genuity has raised its stock price target for Aeva Technologies from $9.50 to $16.00, maintaining a Buy rating. This adjustment reflects Canaccord’s increased confidence in Aeva’s revenue growth prospects, driven by its expanding presence in the industrial and automotive sectors. The firm cites Aeva’s strategic collaborations and market penetration as key factors contributing to its optimistic outlook.

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