Aeva Technologies Stock Jumps On Expanding Collaboration With Daimler Truck’s Subsidiary Torc, But Retail’s Cautious
By Stocktwits Inc | First Published Jan 2, 2025, 8:56 PM ISTBoth firms will work together on technological advancements in the service of L4 autonomous trucking, which will aid the development of Torc’s Virtual Driver vehicle software.
Aeva Technologies Inc (AEVA) announced on Thursday that it is expanding its collaboration with Daimler Truck’s subsidiary Torc to develop a new safety architecture for truck applications that would enable autonomous trucks to make safer, more intelligent decisions.
The stock jumped over 5% in early morning trade.
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Both firms will collaborate on technological advancements in the service of L4 autonomous trucking, which will aid the development of Torc’s Virtual Driver vehicle software.
They will share 4D LiDAR sensing data and a Freightliner Cascadia vehicle platform for long-range sensing applications.
Last year, Daimler Truck selected Aeva as its long- and ultra-long-range LiDAR supplier for its series-production autonomous commercial vehicle program. Aeva said the multi-year production agreement aims to commercialize Daimler Truck’s autonomous trucks by 2027.
Despite the news, shares of Aeva Technologies fell over 1% on Thursday. Retail sentiment on Stocktwits mirrored the stock price movement as it dipped into the ‘neutral’ territory (52/100) from ‘extremely bullish’ a day ago.
Last month, the company announced the expansion of its strategic collaboration with SICK, a leading global supplier of solutions for sensor-based industrial applications.
The firms are collaborating to incorporate Aeva’s FMCW technology into SICK’s portfolio of high-accuracy contactless sensors for industrial applications.
Meanwhile, Aeva notified that it will participate in CES 2025, which will take place between Jan. 7 and Jan. 10 in Las Vegas. The company will introduce and demonstrate a new long-range, high-resolution 4D LiDAR sensor for automotive applications.
The firm also intends to provide a preview of Torc’s autonomous Freightliner Cascadia commercial vehicle equipped with Aeva 4D LiDA technology and showcase a new in-cabin LiDAR collaboration.
Meanwhile, Aeva Technologies shares have performed well over the last year, gaining over 28%.
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