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Aeva Expands in Europe with New Automotive Center of Excellence in Germany

Autonomous Vehicle Industry Leader Axel Gern Joins Aeva to Lead the COE and European Engineering Team

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Axel is an automotive engineering veteran and thought leader with more than 20 years of experience in the development of advanced driver assistance systems, autonomous driving, and software development. Within his role, he is building and leading a strong local engineering team within the COE. Previously, Mr. Gern has held senior engineering leadership positions at Mercedes Benz, Daimler Truck and Torc Robotics. Most recently he served as Senior Vice President of Engineering and Managing Director for Torc Robotics Europe. Prior to Torc, he helped build the strategy and team for Daimler Truck's Autonomous Technology Group (ATG). Axel gained experience with the Silicon Valley style of innovation during his time at Mercedes-Benz Research and Development North America in Sunnyvale where he built up its Autonomous Driving Department.

"I am thrilled to join the talented team at Aeva who is pioneering FMCW 4D LiDAR which is a critical enabling technology for the next phase of vehicle automation," said Gern. "I've worked closely with their team since the collaboration with Daimler Truck and Torc began and am excited to build a team of strong engineers and technical expertise in Germany to continue to support the work with Daimler Truck and Torc as well as new collaborations with OEMs in Europe and around the world."

"Axel brings significant automotive engineering leadership to Aeva through his career developing autonomous driving technologies at global passenger vehicle and commercial trucking OEMs," said Mina Rezk, Co-Founder and CTO at Aeva. "He will play a key role in building Aeva's engineering team in Europe and leading our Automotive Center of Excellence as we ramp up to support our production win with Daimler Truck and support the growing interest and engagements with automotive customers globally."

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.

Aeva, the Aeva logo, Aeva 4D LiDAR, Aeva Atlas, Aeries, Aeva Ultra Resolution, Aeva CoreVision, and Aeva X1 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, statements regarding Aeva's ability to commercialize production programs with our partners, scale manufacturing for mass volumes and secure additional automotive programs. 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, (vi) no assurance or guarantee that any of our customers, including any programs which we included in our order book estimates will ever complete such testing and validation with us or that we will receive any billings or revenues forecasted in connection with such program, and (vii) 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-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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240409158765/en/