Aeva Achieves Major Milestone As First Aeries II 4D LiDAR Sensors Ship to Strategic Customers

Next-Generation FMCW 4D LiDAR on Path Toward Mass Production

Aeva® (NYSE: AEVA), a leader in next-generation sensing and perception systems, today announced that the first Aeries™ II 4D LiDAR™ sensors have been produced and shipped to strategic customers, crossing a major milestone on the company’s path toward mass production.

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“With this achievement, Aeva is on track to deliver a LiDAR sensor that meets the performance and manufacturability requirements of a wide range of sensing and perception applications at scale,” said Soroush Salehian, Co-Founder and CEO at Aeva. “We believe the industry-leading performance of Aeries II, coupled with the volume manufacturing capabilities enabled by our proprietary LiDAR-on-chip technology, has the potential to unlock new levels of automation across industries from vehicles to industrial robotics and beyond.”

Aeries II leverages Aeva’s unique LiDAR-on-chip technology which eliminates all fiber optics and places all key sensor components including transmitters, optics, and receivers onto a silicon photonics chip in a compact module. This design enables the module’s manufacturing process to be highly automated and reliable, allowing Aeva to scale deployment of its products and lower costs to meet the needs of automotive OEMs and other volume customers.

“This milestone is a demonstration of the maturity of our unique Frequency Modulated Continuous Wave technology,” said Mina Rezk, Co-Founder and CTO at Aeva. “Customers on the forefront of automation will now have access to the first commercially available 4D LiDAR sensor that enables new levels of autonomy not possible with legacy sensing and perception technologies.”

Aeries II delivers breakthrough performance using Aeva’s FMCW technology to directly measure the velocity of each point with centimeter per second precision, in addition to precise 3D position. The sensor delivers industry-leading performance including four million raw points per second, a maximum field of view of 120 degrees by 30 degrees, and a maximum detection range of up to 500 meters. Its compact design is 75% smaller than the previous generation while achieving the strict environmental and operational standards expected by OEMs and industrial customers.

To learn more about today’s announcement, watch the video: “Aeries II: The Journey to Production” here.

About Aeva Technologies, Inc. (NYSE: AEVA)

Aeva’s mission is to bring the next wave of perception to a broad range of applications from automated driving to industrial robotics, consumer electronics, consumer health, security and beyond. Aeva is transforming autonomy with its groundbreaking sensing and perception technology that integrates all key LiDAR components onto a silicon photonics chip in a compact module. Aeva 4D LiDAR sensors uniquely detect instant velocity in addition to 3D position, allowing autonomous devices like vehicles and robots to make more intelligent and safe decisions. For more information, visit www.aeva.com, or connect with us on Twitter or LinkedIn.

Aeva, the Aeva logo, 4D LiDAR, Aeries, Ultra Resolution, 4D Perception, and 4D Localization are trademarks/registered trademarks of Aeva, Inc. All rights reserved. Third-party trademarks are the property of their respective owners.

Forward looking statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, but not limited to: (i) the ability to maintain the listing of Aeva’s securities on the New York Stock Exchange, (ii) the price of Aeva’s securities, which may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which Aeva plans to operate, variations in performance across competitors, changes in laws and regulations affecting Aeva’s business and changes in the combined capital structure, (iii) the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities, (iv) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Aeva operates, (v) the risk that Aeva and its current and future collaborators are unable to successfully develop and commercialize Aeva’s products or services, or experience significant delays in doing so, (vi) the risk that Aeva may never achieve or sustain profitability; (vii) the risk that Aeva will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; (viii) the risk that Aeva experiences difficulties in managing its growth and expanding operations, (ix) the risk that third-parties suppliers and manufacturers are not able to fully and timely meet their obligations, (x) the risk of product liability or regulatory lawsuits or proceedings relating to Aeva’s products and services, (xi) the risk that Aeva is unable to secure or protect its intellectual property; and (xii) the effects of the ongoing coronavirus (COVID-19) pandemic or other infectious diseases, health epidemics, pandemics and natural disasters on Aeva’s business. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors, and for a further discussion of the material risks and other important factors that could affect our financial results, please refer to our filings with the SEC, including our Form 10-Q for the quarter ended March 31, 2022. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Aeva assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Aeva does not give any assurance that it will achieve its expectations.

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