Completion of Development Program with Top 10 OEM
Aeva completed the development program with a top 10 global passenger OEM ahead of schedule and is in late-stage contract negotiations for a series production award.
Daimler Truck Production Progress
Aeva completed deliverables for Daimler Truck's initial vehicle builds and received initial orders for the next year's shipments, remaining on track for Daimler Truck's planned market entry in 2027.
Expansion into Precision Sensing
Aeva expanded into the manufacturing automation market with its Eve 1V sensor, receiving initial orders and completing installation of the production line for Eve sensors in Thailand.
Strong Financial Position
Aeva secured a $100 million investment from Apollo Global Management, boosting total liquidity to approximately $270 million.
Revenue and Cost Management
Revenue for Q3 was $3.6 million, while non-GAAP operating loss declined by 13% year-over-year, reflecting efforts to reduce operating expenses by 10-20% for the full year.