Aeva Technologies is a buy, this analyst says
Roth Capital Markets analyst Suji Desilva maintained his “Buy” rating and $30.00 price target on Aeva Technologies (Aeva Technologies Stock Quote, Chart, News, Analysts, Financials NYSE:AEVA) in a July 17 flash note, after the company announced it is ramping up LiDAR manufacturing capacity in partnership with Daimler Truck North America, an encouraging sign, Desilva said, of progress toward full-scale production.
Aeva, founded in 2017 by former Apple engineers, develops next-generation 4D LiDAR sensors for autonomous vehicles. Based in Mountain View, California, the company focuses on serving major automakers and suppliers and has about 100 employees.
“AEVA announced that in support of its lead customer DTNA and other potential pipeline opportunities, the company is doubling its annual LiDAR-manufacturing LiDAR unit target, which also can cover potential additional passenger auto OEM wins,” Desilva said. “We gain confidence with the commencement of the DTNA LiDAR ramp with the company’s autonomous trucks in the late-CY26/CY27 timeframe.”
Desilva said Aeva raising its LiDAR production target from 100,000 to 200,000 units a year signals a stronger commitment from DTNA and growing interest from other automakers. He sees this as a positive sign for the expected 2027 rollout of Aeva’s LiDAR in DTNA’s autonomous Cascadia trucks. Desilva also believes Aeva is already earning solid revenue from DTNA and its subsidiary Torc Robotics ahead of production and could reach over 10% market share during the peak years of the $1-billion, 10-year DTNA program.
“We will look for more customer pipeline and manufacturing footprint clarity at the company’s upcoming New York City investor event at the end of July,” Desilva said.
LiDAR is essential for self-driving vehicles. Unlike traditional LiDAR that uses high-power laser pulses, Aeva’s 4D FMCW LiDAR uses a low-power continuous beam to measure both distance and speed, with high accuracy at ranges up to 500 meters, making it ideal for safe, high-speed highway driving.
“This investment enables us to accelerate delivering high-performance sensing capabilities critical for autonomous freight at commercial scale, as we increase the production capacity of our 4D LiDAR in North America,” Aeva Co-Founder and CEO Soroush Salehian said in a release announcing the DTNA partnership.
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Rod Weatherbie
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Rod Weatherbie is a journalist based in Prince Edward Island. Since 2004, he has written extensively about the Canadian property and casualty insurance landscape. He was also a founder and contributing editor for a Toronto-based arts website and a PEI-based food magazine. His fiction and poetry have been featured in The Fiddlehead, The Antigonish Review, and Juniper.