Form 8-K - Current report

Aeva Technologies, Inc.

Date: January 3, 2024

/s/ Soroush Salehian Dardashti

Soroush Salehian Dardashti

Chief Executive Officer

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 3, 2024

Aeva Technologies, Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware

001-39204

84-3080757

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)


555 Ellis Street
Mountain View, California		94043
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: (650) 481-7070

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, par value $0.0001 per share	AEVA	New York Stock Exchange LLC
Warrants to purchase one share of common stock	AEVA.WS	New York Stock Exchange LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On January 3, 2024, Aeva Technologies, Inc. (“Aeva”) issued a press release announcing that one of the top global automotive OEMs has selected Aeva as its Tier 1 LiDAR supplier for its series production vehicle program. The text of the press release is filed herewith as exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.


Exhibit Number		Description

99.1		Press release dated January 3, 2024.

101		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Exhibit 99.1

LOGO

Aeva Selected by Top Global Automotive OEM to Directly Supply LiDAR for its Series Production Program

Aeva 4D LiDAR Replaces Incumbent 3D Time-of-Flight Long-Range LiDAR

Aeva Transitions to Become a Direct Tier 1 Supplier to Automotive OEMs Globally

MOUNTAIN VIEW, Calif., January 3, 2024 – Aeva^® (NYSE: AEVA), a leader in next-generation sensing and perception systems, announced today that one of the top global automotive OEMs has selected Aeva as its Tier 1 LiDAR supplier for its series production vehicle program. To Aeva’s knowledge, the production win represents one of the largest automotive series production awards in its class. The selection positions Aeva to become a trusted direct Tier 1 supplier to automotive OEMs globally.

“This win is a defining moment for Aeva and the larger automated driving industry, as it represents one of the largest production design wins with an OEM transitioning to FMCW technology and is Aeva’s first major production win with a top global automotive OEM,” said Soroush Salehian, Co-Founder and CEO at Aeva. “This is the culmination of multiple years of diligent effort by the Aeva team and extensive collaboration and qualification of our 4D LiDAR in the automotive industry, and we look forward to sharing more about the significance of this program in the coming weeks.”

The multi-year production program is expected to generate revenues starting in first quarter of 2024 with production ramp by mid-decade.

Aeva expects to reveal more details together with the OEM regarding this major win in early 2024.

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 X or LinkedIn.

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

LOGO

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. Forward-looking statements in this press release include, but are not limited to the timing of revenue and production ramp with a top global automotive OEM, relationship to the OEM as a Tier 1 supplier and the timing of additional information about the major automotive win. 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) the ability to manufacture at volumes and costs needed for commercial programs and (vi) 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.

Contacts

Media:

Michael Oldenburg

press@aeva.ai

Investors:

Andrew Fung

investors@aeva.ai

# # #

Document and Entity Information	Jan. 03, 2024
Document And Entity Information [Line Items]
Amendment Flag	false
Entity Central Index Key	0001789029
Document Type	8-K
Document Period End Date	Jan. 03, 2024
Entity Registrant Name	Aeva Technologies, Inc.
Entity Incorporation State Country Code	DE
Entity File Number	001-39204
Entity Tax Identification Number	84-3080757
Entity Address, Address Line One	555 Ellis Street
Entity Address, City or Town	Mountain View
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94043
City Area Code	(650)
Local Phone Number	481-7070
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock Par Value 0.0001 Per Share 2 [Member]
Document And Entity Information [Line Items]
Security 12b Title	Common stock, par value $0.0001 per share
Trading Symbol	AEVA
Security Exchange Name	NYSE
Warrants To Purchase One Share Of Common Stock 1 [Member]
Document And Entity Information [Line Items]
Security 12b Title	Warrants to purchase one share of common stock
Trading Symbol	AEVA.WS
Security Exchange Name	NYSE