Aeva to provide sensors to Daimler Truck in a $1 billion deal

0
128
Aeva to provide sensors to Daimler Truck in a $1 billion deal
Aeva to provide sensors to Daimler Truck in a $1 billion deal

Aeva Technologies declared a $1 billion partnership with Daimler Truck of Germany to supply sensors for self-driving trucks that are expected to hit US roads in 2027.

Aeva Technologies (AEVA.N) announced on Tuesday that it has secured a $1 billion agreement with Daimler Truck (DTGGe.DE) of Germany to supply sensors for self-driving trucks that are anticipated to hit US roads in 2027.

Aeva, a Silicon Valley-based company created by Apple (AAPL) veterans, manufactures a lidar sensor that assists vehicles in gaining a detailed view of the road. Aeva’s sensor detects the speed of distant objects, which is essential for avoiding other vehicles and people.

Aeva expects the overall worth of the transaction to be $1 billion but did not indicate how long it will last or how many sensors will be installed on each vehicle. Aeva stated that some revenue from the transaction will begin to appear this year and that it plans to start production for the deal in 2026.

The sensors will eventually wind up on Daimler Truck’s Freightliner Cascadia truck platform, which is being outfitted with self-driving technology by the company’s Torc Robotics unit. Last year, Daimler Truck CEO Martin Daum stated that the company hopes to put self-driving trucks on the road by 2027.

While many automakers have scaled back their plans for self-driving technology in the aftermath of a widely publicized robotaxi accident in downtown San Francisco, robotic trucking along well-defined routes continues to pique the interest of businesses because they know exactly how much they must pay human drivers for long-haul trips. Human drivers are still in charge of the final few miles of a trip, but not the huge distances in between.

“The business case and the efficiency become really clear with highway autonomy,” Aeva Chief Executive Officer Soroush Salehian stated.

Also readAI ethicists are the bridge between technology and societal norms, says CP Singh, Founder of Smart24x7 Response Services

Do FollowCIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter 

About us:

CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics.