2024-03-10 23:12:38 ET
Summary
- Aeva announces a win with Torc and Daimler Truck to supply its 4D LiDAR technology for autonomous trucks.
- The market reaction, while positive to the win, will reflect the challenges faced by other companies in turning production wins into revenue.
- Aeva's valuation may become untenable as it may take many years to realize due to the slow adoption of Level 4 autonomous trucks and the company's revenue expectations for the next three years.
In January, Aeva ( AEVA ) announced a win with Torc and Daimler Truck for its newest sensor, Atlas, and the development of autonomous technology. The win has a two-pronged approach, as per the news release:
“Aeva will supply its latest Aeva Atlas™ automotive grade 4D LiDAR technology to Daimler Truck and collaborate with Torc Robotics, an independent subsidiary of Daimler Truck, to enable SAE Level 4 autonomous vehicle capabilities beginning with the Class 8 Freightliner Cascadia truck platform. Daimler Truck intends to integrate the LiDAR sensors directly into its production process, making it easy for customers to buy autonomous ready trucks directly out of its manufacturing plants without the need for sensors to be retrofitted. Torc in turn will sell its virtual driver technology and supporting Mission Control services as a subscription to customers. Its driving software will use Aeva’s perception software, built around Aeva’s instant velocity data, to detect objects faster, further away, and with higher accuracy. The multi-year collaboration begins in the first quarter of 2024 with Aeva’s start of production by 2026 and Daimler Truck production ramp by 2027.”
Read the full article on Seeking Alpha
For further details see:
Aeva's Daimler Deal Amidst Revenue Reductions And Financial Challenges