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Why Nvidia, Daimler Truck, Nikon And Top U.S. Security Organization Are Partnering With This AI Chip Stock

News provided by news direct2024-09-18

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By Meg Flippin, Benzinga

Keep a look out for more Aeva Technologies Inc. announcements here.

A boom in automated passenger cars and trucks could be coming to roads and highways near you thanks to the companies churning out the technology required to make this a reality. One company, in particular, is Aeva Technologies Inc. (NYSE: AEVA), which makes LiDAR sensors for self-driving vehicles, trucks, trains and more. The sensors act as eyes, providing 3D views of the surroundings with a twist – adding a fourth measurement dimension of speed in what the company calls 4D LiDAR.

The company’s sensors are powered by its Frequency Modulated Continuous Wave (FMCW) 4D LiDAR technology, which uses a low-power continuous laser beam to measure distance and velocity for each pixel at the same time. Aeva says FMCW unlocks new levels of safety and automation by instantaneously discriminating between moving and non-moving points and identifying the precise velocity of objects in motion. Per pixel instant velocity data gives real-time insights into how an object’s speed and position change and the direction that change happens with centimeters per second precision, giving the vehicle’s computer a more accurate picture and a faster look-ahead to help plan its next move more quickly.

The company says its FMCW LiDAR sensors can also enable self-driving cars and trucks to achieve highway speeds (65 MPH and above) safely. It’s something that the industry has struggled with, with many advanced assisted driving and traffic-jam pilot self-driving vehicles achieving top speeds of only up to 45 MPH. For the automotive industry to realize autonomous vehicles at a large scale, it must be able to sustain highway speeds safely and across different weather and driving conditions.

Aeva’s LiDAR Tech Secures Strategic Partnerships With Industry Giants

Aeva is getting a lot of attention because of its advanced LiDARs, inking deals with heavy hitters including Nvidia Corp. (NASDAQ: NVDA), Daimler Truck AG and Nikon Corp. (OTC: NINOY) and forging into new areas.

The deal with Nvidia, the AI and graphics chip maker that boasts a market capitalization of about $2.90 trillion, holds the potential to validate Aeva’s technology. The two first began collaborating in the spring of 2022, when Aeva’s 4D LiDAR sensors were added to the NVIDIA DRIVE® Automotive platform. NVIDIA DRIVE is an open, end-to-end platform that enables automotive OEMs and developers to develop, train, validate and deploy safe self-driving technology at scale. The NVIDIA DRIVE platform consists of both the AI infrastructure and in-vehicle hardware and software to deliver everything needed to develop autonomy at scale. Aeva delivers an advantage for perception in automated vehicles because it leverages per-point instant velocity information to detect and classify objects with higher confidence across longer ranges. “With Aeva as part of our DRIVE ecosystem network, we can provide customers access to this next generation of sensing capabilities for safe autonomous driving,” said Nvidia about Aeva at the time.

Since then it has made inroads with OEMs, recently announcing some major deals. Take Aeva’s recent $1 billion deal with Daimler Truck AG as a prime example. Daimler Truck is using Aeva’s 4D LiDAR sensors in its Class 8 Freightliner Cascadia autonomous truck platform. Daimler Truck says it intends to integrate the LiDAR sensors directly into its production process, making it easy for customers to buy autonomous-ready trucks directly from its manufacturing plants.

Daimler Truck said it chose Aeva’s LiDAR sensors because of their ability to provide enhanced safety and control. Production is slated to commence in 2026, according to Aeva. Daimler is aiming to have self-driving trucks on the road by 2027.

“Daimler Truck is committed to leading the industry’s advancement toward autonomous trucks. Selecting the right LiDAR technology is a crucial strategic decision to safely deploy autonomous trucks on the road,” said Joanna Buttler, head of Global Autonomous Technology Group at Daimler Truck, when announcing the deal.

“We are convinced that Aeva with its cutting-edge and reliable technology is the right production partner for LiDAR sensors and has the manufacturing capabilities to scale along with us,” she said.

Growing Beyond Automotive

Vehicles aren’t the only thing Aeva’s sensors are finding a home in. The company is also bringing its perception technology to security and AI based analytics, having been selected by a top U.S. National Security Organization to help protect critical energy infrastructure sites across the United States. Aeva’s sensors are expected to be the primary detection sensor to protect sensitive locations in various facilities from intrusion, such as water entries and exits and at perimeter fences. Aeva says after evaluating multiple sensing technologies, including 3D time-of-flight LiDAR, this top national defense security organization selected Aeva 4D LiDAR, further validating the growing applications for Aeva’s technology for some of the demanding and high-stakes physical security applications that can benefit from the application of sensing and AI.

As a sign of having broadened and versatile applications, Aeva also inked a deal with Nikon, the global manufacturer and supplier of metrology and inspection equipment for the industrial automation and metrology markets. Aeva is producing sensors for Nikon industrial machines to inspect objects on manufacturing assembly lines for microscopic defects that can be smaller than the width of a human hair. This includes automobiles and aerospace components from some of the world’s largest manufacturers. Aeva is targeting to begin launching its sensors for the first industrial precision product with Nikon in the fourth quarter of 2024.

“Today’s production win marks a significant milestone for Aeva in the growing field of automated manufacturing and it validates that Aeva’s unique FMCW technology goes well beyond automated driving with a perception platform powering the next wave of automation,” said Soroush Salehian, co-founder and CEO at Aeva when the deal was announced late last year. “We are excited to advance to our first commercial deployment with Nikon, a recognized leader in delivering high-precision industrial solutions of the highest quality, and look forward to leveraging our perception platform to bring additional programs to market.”

Then there’s Aeva’s deal in railway for Germany’s rail sector initiative Digitale Schiene Deutschland. Aeva’s 4D LiDAR technology is being used in the group’s AutomatedTrain project, which is funded by the German Federal Ministry of Economic Affairs and Climate Action with collaboration from ten partners, including the world’s largest railway company Deutsche Bahn, Siemens Mobility and Bosch. The group aims to create and trial driverless, fully automated passenger trains by 2026.

From vehicles to industrial security, manufacturing automation and trains, Aeva’s advanced sensors and perception suite seem to be finding their way into large and rapidly growing markets. Learn more about the latest on Aeva Technologies Inc. by checking out its recent quarterly results.

Featured photo by Hyundai Motor Group on Unsplash

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