Aeva Technologies Inc. (AEVA) saw its stock surge 28.42% in pre-market trading on Tuesday, reflecting strong investor enthusiasm following a major partnership announcement.
The surge comes after Aeva revealed that NVIDIA has selected its Frequency Modulated Continuous Wave 4D LiDAR technology for the NVIDIA DRIVE Hyperion autonomous vehicle reference platform. This collaboration positions Aeva as a key supplier for global passenger and commercial vehicle manufacturers, with production programs targeted for 2028.
The partnership is a significant validation of Aeva's technology and could open substantial growth opportunities in the autonomous driving sector, which is increasingly reliant on advanced LiDAR solutions for safety and scalability.
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