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Aeva Announces First Strategic Customers for High-Precision Industrial Automation Sensors

1. Aeva begins receiving orders for over 1,000 Eve 1 sensors. 2. Collaborating with SICK AG and LMI Technologies for industrial automation markets. 3. Eve 1D targets a $4 billion sensor market for automated manufacturing solutions. 4. Sensors utilize FMCW technology for high precision and wider application range. 5. Production expected to ramp up in 2025, indicating future growth potential.

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Why Bullish?

Initial orders signal strong market interest and validation for Aeva's products. Similar companies have seen stock rises from strong first orders, justifying optimism.

How important is it?

Significant partnerships with industry leaders enhance credibility, suggesting substantial future revenue impact.

Why Long Term?

Growth in industrial automation creates sustainable revenue opportunities as production expands. Historical patterns show that early orders often lead to subsequent growth.

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SICK AGLMI TechnologiesTSLA
-Leading Automation Companies Including SICK AG and LMI Technologies Place Initial Orders for Over 1,000 Eve 1 Sensors MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Aeva® (Nasdaq: AEVA), a leader in next-generation sensing and perception systems, today announced the first orders for its Aeva Eve™ 1 line of high-precision sensors for high-volume and inline industrial automation applications. Since recently announcing the product line, Aeva has received its first purchase orders for more than 1,000 sensors through collaborations with industry leaders including SICK AG and LMI Technologies. These early engagements reflect Aeva’s successful expansion into the growing factory and process automation markets, beyond automotive 4D LiDAR technology.We’re proud to partner with key leaders in industrial automation like SICK AG and LMI Technologies as we launch the Eve 1D sensor.Share “We’re proud to partner with key leaders in industrial automation like SICK AG and LMI Technologies as we launch the Eve 1 sensor line,” said Soroush Salehian, Co-Founder and CEO at Aeva. “Their collaboration and commitment to our technology validates the versatility and performance of our unique FMCW technology. We believe Eve 1 represents a breakthrough in industrial sensing, providing significant value to the industrial automation ecosystem.” Aeva’s Eve 1 product line, starting with Eve 1D, targets the growing $4 billion global laser displacement sensor market, driven by rising demand for automated manufacturing solutions. They are the industry’s first sensors to leverage Frequency Modulated Continuous Wave (FMCW) laser technology, powered by Aeva’s CoreVision™ lidar-on-chip modules. Designed from the ground up to meet the stringent reliability and durability standards of automotive applications, Eve 1’s CoreVision modules use the same silicon photonics technology paired with advanced software algorithms optimized for high-precision sensing. Eve 1D sensors deliver consistent sub-micron precision across a wide range of standoff distances, from 100 millimeters to 20 meters, housed in a compact, all-in-one form factor that integrates both measurement and data processing. They provide best-in-class measurement speed and accuracy and work across a broad set of materials and in all lighting conditions. These capabilities enable faster, highly precise inspection, the ability to enhance throughput, improved quality control, and improving costs in automated manufacturing environments. “Aeva’s rapid progress in developing its high-precision displacement sensors based on its unique FMCW technology has been impressive and we believe it has the potential for rapid adoption with our customers who are at the forefront of high quality and automated manufacturing,” said Dr. Simon Brugger, Senior Vice President Research & Development at SICK AG. “The addition of Aeva’s technology into our portfolio will enable us to better serve customers in a variety of applications where precision sensing is core to their manufacturing automation and industrial processes.” "What excites us most about Aeva’s Eve sensors is not just their unmatched precision and software-defined capability, but the potential they unlock for the future of precision 3D sensing in high-volume industrial automation applications," said Mark Radford, CEO at LMI Technologies. "With FMCW at its core, this technology lays the groundwork for LMI to deliver advanced 3D solutions from inline inspection to complex robotic guidance, that demand the next level of accuracy, dynamic range, and measurement speed. We're excited to join Aeva’s first precision sensing product launch as an early customer." The first shipments of Eve 1 sensors to select customers have already started, with production expected to begin in 2025. About Aeva Technologies, Inc. (Nasdaq: 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 X or LinkedIn. Aeva, the Aeva logo, Aeva 4D LiDAR, Aeva Atlas, Aeries, Aeva Eve, Aeva Ultra Resolution, Aeva CoreVision, and Aeva X1 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. 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. These forward-looking statements include, but are not limited to expectations about our product features, performance and market opportunity. 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 fact that Aeva is an early stage company with a history of operating losses and may never achieve profitability, (ii) Aeva’s limited operating history, (iii) the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities, (iv) the ability for Aeva to have its products selected for inclusion in OEM products, (v) end customer acceptance of products incorporating Aeva’s technology, (vi) manufacturing issues, (vii) the impact of competing technologies and (viii) other material risks and other important factors that could affect our financial results. Please refer to our filings with the SEC, including our most recent Form 10-Q and Form 10-K. 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. More News From Aeva Technologies, Inc.

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