Aeva sells 6% stake and inks manufacturing deal, shares rise

Stephen Nellis

Wed, May 14, 2025, 11:52 AM 1 min read

By Stephen Nellis

SAN FRANCISCO (Reuters) -Aeva Technologies, a steadfast founded by erstwhile Apple engineers that makes sensors utilized successful factories and self-driving vehicles, connected Wednesday said it had sold a 6% involvement for $50 cardinal to an unnamed strategical spouse that volition besides grip immoderate of its manufacturing successful the future.

Aeva's lidar sensors assistance mill instrumentality and vehicles summation a three-dimensional presumption of their surroundings. Aeva's mentation of the exertion tin besides observe however accelerated objects are moving, which tin assistance cars find if an entity successful the region is stationary oregon moving.

Aeva did not sanction the partners, describing it arsenic a "technology focused affiliate of a Global Fortune 500 company" that volition besides assistance it manufacture sensors for rider vehicles. Aeva shares were up 3% aft the announcement.

The institution has partnerships with firms specified arsenic Daimler Truck AG for autonomous driving arsenic good arsenic deals with Japanese and German firms to usage the sensors to observe defects successful objects moving down automated manufacturing lines.

Aeva reports net aft the adjacent of markets connected Wednesday.

(Reporting by Stephen Nellis successful San Francisco; editing by Diane Craft)