New Advanced Production Line Accelerates Aeva’s Mass Manufacturing Capabilities

Aeva (NYSE: AEVA), a leader in next-generation sensing and perception systems, today announced that it has selected Fabrinet (NYSE: FN), a leading provider of advanced precision optical and electronic manufacturing services, to produce Aeva’s 4D LiDAR chip module. As the engine of Aeva’s unique frequency modulated continuous wave (FMCW) technology approach to LiDAR, the module integrates key components onto a single silicon photonics chip module including laser transmitters, optics, and receivers. The silicon photonics design brings together a compact and mass-manufacturable LiDAR solution for automotive and industrial applications.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211108005363/en/

Aeva’s FMCW 4D LiDAR on chip module being manufactured by Fabrinet (Photo: Business Wire)

Aeva selected Fabrinet for its deep expertise in silicon photonics integrated devices and advanced precision optical systems. With today’s announcement, Aeva is bringing online an advanced production line at Fabrinet and is establishing a local team in Thailand to support manufacturing activities. This new production line will produce Aeva's third generation 4D LiDAR chip modules and scale to support mass production volumes. The facility is automotive qualified with IATF 16949 certification.

“We are excited to have been chosen by Aeva to manufacture their unique FMCW LiDAR chip module for automated driving and beyond using silicon photonics technology,” said Seamus Grady, CEO at Fabrinet. “Our advanced manufacturing capabilities will enable Aeva to bring their vision to reality at mass production scale and we look forward to supporting Aeva as long-term partners as they ramp toward production.”

“Fabrinet is a trusted manufacturer and automotive qualified supplier to some of the largest global OEMs and Tier 1 suppliers in automotive and non-automotive applications, and this agreement allows us to accelerate our production manufacturing capabilities well ahead of schedule,” said Tim Willis, Vice President of Global Supply Chain, Manufacturing and Strategy at Aeva. “We are thrilled to partner with them to deliver the world’s first 4D LiDAR chip module at mass scale for the global automotive industry and beyond as we aim to fulfill our mission to bring perception to all devices.”

About Aeva Technologies, Inc. (NYSE: AEVA)

Founded in 2017 by former Apple engineers Soroush Salehian and Mina Rezk, and led by a multidisciplinary team of engineers and operators experienced in the field of sensing and perception, Aeva’s mission is to bring the next wave of perception technology to broad applications from automated driving to consumer electronics, consumer health, industrial robotics, and security. For more information, visit www.aeva.com.

Aeva^®, the Aeva logo and 4D LiDAR 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. 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. 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 ability to maintain the listing of Aeva’s securities on the New York Stock Exchange, (ii) the price of Aeva’s securities, which may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which Aeva plans to operate, variations in performance across competitors, changes in laws and regulations affecting Aeva’s business and changes in the combined capital structure, (iii) the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities, (iv) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Aeva operates, (v) the risk that Aeva and its current and future collaborators are unable to successfully develop and commercialize Aeva’s products or services, or experience significant delays in doing so, (vi) the risk that Aeva may never achieve or sustain profitability; (vii) the risk that Aeva will need to raise additional capital to execute its business plan, which many not be available on acceptable terms or at all; (viii) the risk that Aeva experiences difficulties in managing its growth and expanding operations, (ix) the risk that third-parties suppliers and manufacturers are not able to fully and timely meet their obligations, (x) the risk of product liability or regulatory lawsuits or proceedings relating to Aeva’s products and services, (xi) the risk that Aeva is unable to secure or protect its intellectual property; and (xii) the effects of the ongoing coronavirus (COVID-19) pandemic or other infectious diseases, health epidemics, pandemics and natural disasters on Aeva’s business. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors, and for a further discussion of the material risks and other important factors that could affect our financial results, please refer to our filings with the SEC, including our Form 10-Q for the quarter ended June 30, 2021. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211108005363/en/