LG Innotek Invests up to $50M in Aeva

Strategic Collaboration Leverages Aeva’s Proprietary Perception Technology with LG Innotek’s Global Scale

Companies to Bring Advanced 4D LiDAR and Sensing Solutions to New Markets Including Consumer Devices, Robotics and Industrial Automation, Accelerating Scaled Deployment of 4D LiDAR and Unlocking Significant Growth Opportunities for Aeva

Aeva® (Nasdaq: AEVA), a leader in next-generation sensing and perception systems, today announced a broad strategic collaboration with LG Innotek, a manufacturer of cutting-edge technology and an affiliate of the LG Group. The partnership includes a strategic investment by LG Innotek of up to approximately $50 million comprising the anticipated equity stake in Aeva, non-dilutive investment for new product development, and capital investments to bring production capacity online for Aeva’s next generation products.

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Aeva and LG Innotek form a strategic collaboration to bring next-generation perception platform to market.

This multi-faceted collaboration will enable Aeva to accelerate the commercialization of its breakthrough Frequency Modulated Continuous Wave (FMCW) perception platform to a wide range of industries and new applications across automotive, industrial automation, robotics, and consumer devices, as previously announced by Aeva.

“The ultimate goal of this partnership is for LG Innotek and Aeva to grow together as key players leading the next-generation LiDAR market through a long-term technology partnership that goes beyond the supply of products,” said Hyuksoo Moon, CEO of LG Innotek. He went on to add, “Starting with this collaboration with Aeva, LG Innotek will continue to expand its LiDAR product line-up, which delivers differentiated customer value, and further solidify its position in the global market as a total mobility solution provider for the future.”

Accelerating Aeva’s FMCW Perception Platform into Physical AI

This collaboration establishes the foundation to accelerate the adoption of Aeva’s FMCW-based perception platform into Physical AI—where intelligent systems equipped with sensors, processing, and AI software can perceive, understand and interact with the physical world in real time. By combining Aeva’s breakthrough perception platform, consisting of its FMCW lidar-on-chip sensor, a custom processing System-on-Chip (SoC) and perception software, with LG Innotek’s global scale and cross-industry leadership, the two companies will develop new sensing and perception solutions. The partnership will advance the technology’s adoption in automotive and expand to additional sectors across the following markets:

• Automotive – The collaboration will start in the automotive sector where LG Innotek will manufacture and supply to Aeva its Aeva Atlas™ Ultra 4D LiDAR sensor. This includes for Aeva’s previously announced development program with a top 10 global passenger OEM for multiple vehicle models across the OEM’s global production platform. LG Innotek is already a key supplier of optical sensing solutions for some of the world’s leading car makers.
• Industrial Automation – Beyond automotive, Aeva and LG Innotek will co-develop new sensing and perception products for the industrial automation market for use across industrial equipment operating indoors and outdoors, combining Aeva’s FMCW platform with LG Innotek’s scale, resources, and deep experience in developing and manufacturing advanced electronics.
• Robotics – LG Innotek is already a key player in optical and LiDAR sensing modules for the robotics sector, including next-generation humanoid robots from leading technology companies. Together, Aeva and LG Innotek will pursue opportunities to deliver next-generation perception systems for this fast-growing market.
• Consumer Devices – LG Innotek is a trusted supplier of advanced sensing and electronics components to some of the largest consumer electronics brands in the world. Aeva and LG Innotek plan to explore new product opportunities in emerging consumer applications such as smartphones, tablets, AR/VR headsets, smart appliances, and home robotics—areas where FMCW sensing can unlock significant new capabilities.

“LG Innotek is a global leader in cutting-edge technology components and their decision to collaborate with Aeva underscores the growing recognition of FMCW as the future of sensing and perception technology,” said Soroush Salehian, Co-founder and CEO at Aeva. “Together, we see a tremendous opportunity to bring Aeva’s perception platform to a wide range of applications—wherever machines need to perceive and understand their surroundings. By leveraging the unique capabilities of FMCW sensing and proprietary software, we can help machines see with greater precision and enable faster, safer, and more intelligent decision-making across industries.”

Hear More from LG Innotek Top Management at Aeva Day

Top leadership from LG Innotek including CEO Hyuksoo Moon, and CTO S. David Roh will be on stage with Aeva’s co-founders at Aeva Day on July 31 discussing more details about the partnership. To register and view the event via webcast visit investors.aeva.com.

About LG Innotek

LG Innotek is a cutting-edge materials and components manufacturer and an affiliate of the LG Group. The company is the world's No.1 supplier of smartphone camera modules, leading innovation in mobile imaging technology. It is also at the forefront of advancing future technologies, offering core components for mobility, AI, semiconductors, and robotics, working closely with customers to realize their visions. Headquartered in Seoul, Korea, LG Innotek has sales subsidiaries in Germany, the USA, China, Japan, and Taiwan, and production subsidiaries in China, Vietnam, Indonesia, Mexico, and Poland. For more information, please visit: www.lginnotek.com.

About Aeva Technologies, Inc. (Nasdaq: 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, Aeva Atlas, Aeries, Aeva Eve, Aeva Ultra Resolution, Aeva CoreVision, and Aeva X1 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. 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. These forward-looking statements include, but are not limited to expectations about our product features, performance and our relationship with LG Innotek and other customers. 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 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 commercial success of any OEM products, (vi) market acceptance of Aeva’s technology in the automotive and other markets, (vii) unforeseen delays or manufacturing and delivery issues, and (viii) 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.

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