Aeva Technologies Enters Collaboration, Investment Agreement With Fortune 500 Company

MT Newswires Live

05-14

Aeva Technologies (AEVA) said Wednesday it has entered into a strategic collaboration with an affiliate of a Fortune 500 company to bring its 4D light detection and ranging technology into new industrial and consumer markets.

The company will invest up to around $50 million to bring production capacity online for Aeva's next-generation perception sensing products, as well as take an approximately 6% equity stake in the company, Aeva said.

Aeva shares were nearly 5% higher in premarket trading.

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