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MOUNTAIN VIEW, Calif. - Aeva (NASDAQ:AEVA), a technology company whose stock has surged over 350% in the past six months, announced on Thursday a collaboration with Bendix Commercial Vehicle Systems to develop next-generation active safety and collision mitigation solutions for commercial vehicles. According to InvestingPro data, Aeva maintains a strong financial position with more cash than debt on its balance sheet.
The partnership aims to integrate Aeva’s 4D LiDAR technology and perception software into Bendix’s future safety systems for Class 8 trucks and other commercial vehicles. The companies will focus on enhancing capabilities for challenging scenarios such as Pedestrian Automatic Emergency Braking and nighttime collision mitigation.
Bendix, the North American market leader in commercial vehicle advanced driver assistance systems (ADAS), supplies its flagship Bendix Fusion system to most major Class 8 truck manufacturers. The commercial vehicle ADAS market in North America represents approximately 300,000 new trucks annually.
"Our collaboration with Aeva opens an exciting new chapter for the commercial vehicle marketplace," said Mike Tober, Chief Technology Officer at Bendix. "We see Aeva’s 4D LiDAR as an enabling technology offering the long-range performance, high resolution, and instant velocity data we believe is needed to expand the capabilities of our future systems."
Soroush Salehian, Co-founder and CEO at Aeva, noted that the collaboration brings the company’s technology "into one of the most impactful commercial vehicle safety markets in North America."
Bendix is part of Munich-based Knorr-Bremse, a global leader in braking systems and safety-relevant subsystems for rail and commercial vehicles. The company serves leading OEMs including Paccar, Navistar, and the Volvo Group.
Both companies emphasized that advanced technologies complement but do not replace safe driving practices, with responsibility for safe vehicle operation remaining with the driver at all times.
The announcement was made based on a press release statement from the companies.
In other recent news, Aeva Technologies has announced several significant developments. LG Innotek has invested up to $50 million in Aeva to boost the commercialization of its advanced 4D LiDAR technology across various industries. This investment includes an equity stake, non-dilutive funding for product development, and capital for production capacity expansion. Additionally, Aeva and Daimler Truck North America have expanded their partnership to increase LiDAR production for autonomous vehicles, with plans to install capacity for up to 200,000 units annually in North America. Tampa International Airport has begun implementing Aeva’s 4D LiDAR technology to enhance operations and security, marking one of the largest airport deployments of such technology in the United States. Aeva’s 4D LiDAR technology has also been selected by D2 Traffic Technologies to improve smart traffic solutions in various urban settings. Furthermore, at its annual shareholder meeting, Aeva elected two Class I directors to its board, with Katherine Motlagh and Stefan Sommer, Ph.D., receiving majority support. These developments underscore Aeva’s growing influence in the LiDAR technology sector.
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