Nikon Selects Aeva in Multi-year Production Agreement to Power Next Generation of High Precision Industrial Metrology Inspection Products

Aeva’s LiDAR-on-Chip Sensing Technology to be Used in Nikon’s Industrial Metrology and Quality Control Products for High Volume Automotive Manufacturing, Aerospace and Energy Industries

Aeva® (NYSE: AEVA), a leader in next-generation sensing and perception systems, today announced a production win with Nikon Corporation (JPX: Nikon), a pioneer in optical technology markets and a global manufacturer and supplier of metrology and inspection equipment for the industrial automation and metrology markets. Under the agreement, Aeva will supply Nikon with its micron-precise LiDAR-on-Chip technology to power Nikon’s products for industrial metrology and quality control.

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Illustration of a contactless Body-in-White inspection process in automotive manufacturing (Graphic: Business Wire)

Building on the previously announced collaboration, this multi-year agreement integrates Aeva’s technology into Nikon’s Industrial Metrology and automated inspection product suite for deployment to customers across the automotive, aerospace and renewable energy industries. Aeva’s start of production is targeted in late 2024, with Nikon product availability expected in 2025.

“This core perception technology opens new opportunities for our products thanks to Aeva's high accuracy and faster measurements,” said Tadashi Nakayama, CEO at Nikon Metrology NV, General Manager of Industrial Metrology Business Unit and Corporate Vice President at Nikon. “We are pleased to move our collaboration with Aeva to the production phase to deliver best-in-class products to our customers in the automotive manufacturing, aerospace and energy industries.”

Nikon’s technology powers high-precision, automated quality control in high-volume manufacturing environments by enabling non-contact measurements from long distances with unmatched speed and precision. In the automotive industry, for example crucial measurements taken during Body-in-White and Gap and Flush inspections ensure the accuracy and quality of vehicle components during production assembly.

“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. “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.”

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.

About Nikon Corporation

Nikon has been a pioneer in optical technology markets worldwide since its inception in 1917. Today, utilizing advanced technologies, Nikon offers a wide range of products and solutions from digital cameras and binoculars to industrial precision equipment such as FPD and semiconductor lithography systems, microscopes and measuring instruments as well as products for the healthcare field. In the future, Nikon will take advantage of Nikon’s core technologies to generate new core pillars of profit including the material processing business; Nikon strives to sustainably grow its enterprise value in the medium- to long-term.

Aeva, the Aeva logo, Aeva 4D LiDAR, Aeries, Ultra Resolution, 4D Perception, and 4D Localization 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 Nikon. 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 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.

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