Aeva Technologies Inc (AEVA) 2025 Q1 法說會逐字稿

Good day. My name is Jess, and I will be your conference facilitator. I would like to welcome everyone to Aeva Technologies First quarter 2025 earnings conference call.

再會。我叫傑西，我將擔任您的會議主持人。歡迎大家參加 Aeva Technologies 2025 年第一季財報電話會議。

(Operator Instructions)

（操作員指示）

As a reminder, today's conference call is being recorded and simultaneously webcast.

提醒一下，今天的電話會議正在錄製並同時進行網路直播。

I would now like to turn the call over to Andrew Fung, Senior Director of Investor Relations and Corporate Development. Andrew, please go ahead.

現在我想將電話轉給投資者關係和企業發展高級總監 Andrew Fung。安德魯，請繼續。

Thank you and welcome everyone to Aeva's first quarter 2025 earnings conference call.

感謝並歡迎大家參加 Aeva 2025 年第一季財報電話會議。

Joining on the call today are Soroush Salehian, Aeva's co-founder and CEO, and Saurabh Sinha, Aeva's CFO.

今天參加電話會議的有 Aeva 聯合創始人兼執行長 Soroush Salehian 和 Aeva 財務長 Saurabh Sinha。

Ahead of this call, we issued our first quarter 2025 press release and presentation, which we will refer to today and can be found on our investor relations website at investors.aeva.com. Please note that on this call we will be making forward-looking statements based on current expectations and assumptions which are subject to risks and uncertainties. These statements reflect our views only as of today and should not be relied upon as representative of our views as of any subsequent date.

在本次電話會議之前，我們發布了 2025 年第一季新聞稿和演示文稿，我們將在今天參考這些新聞稿和演示文稿，您可以在我們的投資者關係網站 investors.aeva.com 上找到它們。請注意，在本次電話會議中，我們將根據目前的預期和假設做出前瞻性陳述，這些陳述受風險和不確定性的影響。這些聲明僅反映我們截至今天的觀點，不應被視為代表我們此後任何日期的觀點。

These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from expectations. For further discussion of the 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-Q and Form 10-K.

這些聲明受到各種風險和不確定性的影響，可能導致實際結果與預期有重大差異。有關可能影響我們財務表現的重大風險和其他重要因素的進一步討論，請參閱我們向美國證券交易委員會提交的文件，包括我們最新的 10-Q 表和 10-K 表。

In addition, during today's call, we will discuss non-GAAP financial measures which we believe are useful as supplemental measures of Aeva's performance. These non-GAAP measures should be considered in addition to and not as a substitute for or in isolation from GAAP results. The webcast replay of this call will be available on our company website under the investor relations link.

此外，在今天的電話會議中，我們將討論非公認會計準則財務指標，我們認為這些指標可作為 Aeva 績效的補充指標。這些非 GAAP 指標應作為 GAAP 結果的補充而非替代或孤立存在。本次電話會議的網路直播重播將在我們公司網站的投資者關係連結下提供。

And with that, let me turn the call over to Soroush.

現在，請允許我將電話轉給 Soroush。

Thank you, Andrew, and good afternoon, everyone. It continues to be an incredibly exciting time at Aeva with our commercial momentum accelerating across a larger range of applications. While we continue to make strong progress in automotive, including on the diamond truck production program, as well as the Global Top 10 Passenger OEM Development Program, where we have already achieved the first key milestone.

謝謝你，安德魯，大家下午好。對 Aeva 來說，這仍然是一個無比令人興奮的時刻，我們的商業動能在更廣泛的應用領域中不斷加速。我們在汽車領域繼續取得強勁進展，包括鑽石卡車生產計劃以及全球十大乘用車 OEM 發展計劃，我們已經實現了第一個關鍵里程碑。

Aeva's mission from inception has been to build a core FMCW technology platform to bring perception to a broad range of applications beyond just automotive.

Aeva 自成立之初的使命是建立一個核心 FMCW 技術平台，為汽車以外的廣泛應用帶來感知。

And in Q1, we delivered a number of accomplishments that further realized that mission. In industrial automation, we unveiled the Eve 1 line of high precision sensors, which we believe can have the potential to be a breakthrough for the $4 billion per year laser displacement sensor market. Eve 1 utilizes our core vision lighter and chip module to deliver submicron precision that is more reliable and flexible at a lower cost and size than current solutions in the market.

在第一季度，我們取得了一系列成就，進一步實現了這項使命。在工業自動化領域，我們推出了 Eve 1 系列高精度感測器，我們相信它有可能成為每年 40 億美元的雷射位移感測器市場的突破。Eve 1 利用我們的核心視覺打火機和晶片模組來提供亞微米精度，與市場上現有的解決方案相比，它更可靠、更靈活，而且成本和尺寸更低。

This level of precision enables Aeva to go beyond LiDAR as the industry has known it until now, and provide an offering that can have the opportunity to accelerate our growth into new industrial automation markets because of our differentiated FMCW technology.

這種精確度水準使 Aeva 能夠超越業界迄今所熟知的 LiDAR，並且憑藉我們差異化的 FMCW 技術，我們有機會加速向新的工業自動化市場的成長。

We are seeing strong commercial traction with Eve 1 already, including securing multiple industry-leading industrial automation companies as our first strategic customers, and with orders of over 1,000 sensors booked and planned to ship later this year.

我們已經看到 Eve 1 具有強大的商業吸引力，包括確保多家行業領先的工業自動化公司成為我們的首批策略客戶，並且已經預訂了超過 1,000 個感測器併計劃於今年稍後發貨。

Aeva also entered into a new market, Intelligent Transportation System or ITS with Sensys Gatso, a leader in traffic enforcement solutions, selecting Aeva as its exclusive lighter supplier for its new mobile speed detection products in Australia.

Aeva 也與交通執法解決方案領導者 Sensys Gatso 合作進入了智慧交通系統（ITS）這一新市場，並選擇 Aeva 作為其在澳洲的新型行動測速產品的獨家打火機供應商。

Aeva was selected because of 4D liar's ability to provide accurate velocity measurement for speed verification.

選擇 Aeva 是因為 4D Liar 能夠為速度驗證提供精確的速度測量。

We are seeing increasing interest from other leaders in the ITS market as well as infrastructure monitoring segments and we plan to respond to this market with our existing sensor suite, but with fine-tuned perception software specific to this market segment.

我們看到 ITS 市場以及基礎設施監控領域的其他領導者的興趣日益濃厚，我們計劃利用現有的傳感器套件來響應這個市場，但使用針對這個細分市場的微調感知軟體。

Importantly, our momentum is opening new strategic opportunities to Aeva that we believe further validates our technology platform and market leading FMCW performance as we scale in existing market segments such as automotive and industrial and enter new ones.

重要的是，我們的發展勢頭為 Aeva 帶來了新的戰略機遇，我們相信，隨著我們在汽車和工業等現有市場領域擴大規模並進入新的市場，這將進一步驗證我們的技術平台和市場領先的 FMCW 性能。

Earlier today we announced a strategic collaboration with the global Fortune 500 companies' technology subsidiary, who plans to invest up to $50 million in Aeva and together partner to help expand Aeva's and markets and deliver advanced perception sensing products across multiple market segments, including in consumer electronics, industrial, and automotive.

今天早些時候，我們宣布與全球財富 500 強公司的技術子公司建立戰略合作關係，該子公司計劃向 Aeva 投資高達 5000 萬美元，並共同合作幫助擴大 Aeva 的市場，並在多個細分市場（包括消費電子、工業和汽車）提供先進的感知感測產品。

This leading technology company sees significant growth potential for Aeva's perception platform adoption across many applications and believes our FMCW solution provides a strong path to penetrating multiple market segments with mass deployments. We're also selecting this company as our Tier 2 manufacturing partner for the Top 10 Passenger OEM Program previously announced.

這家領先的科技公司看到了 Aeva 感知平台在眾多應用領域應用的巨大成長潛力，並相信我們的 FMCW 解決方案為透過大規模部署滲透多個細分市場提供了強有力的途徑。我們還將選擇該公司作為我們先前宣布的十大乘用車 OEM 計劃的二級製造合作夥伴。

We believe this new partnership will help further enhance our position for the broader mass deployment across future generations with the Global Top 10 Passenger OEM Development Program.

我們相信，這項新的合作關係將有助於我們透過全球十大乘用車原始設備製造商發展計畫進一步提升未來幾代產品更廣泛的大規模部署地位。

So in summary, we have accomplished a lot in a short few months and there is much more ahead for Aeva. We have never been in a stronger position to continue executing on this significant interest in Aeva's unique FMCW technology.

總而言之，我們在短短幾個月內取得了許多成就，Aeva 的未來還有更大的發展空間。我們從未處於如此有利的地位來繼續執行對 Aeva 獨特的 FMCW 技術的重大興趣。

Let's now discuss in more detail our recent business developments.

現在讓我們更詳細地討論我們最近的業務發展。

I'm excited about Aeva's major expansion in the precision sensing market with the Eve 1 line of high precision laser displacement sensors. Like our automotive solutions, Eve 1 is powered by Aeva's core vision lighter on chip modules, but specifically designed for high volume and inline industrial automation applications, such as factory and process automation.

我很高興看到 Aeva 憑藉 Eve 1 系列高精度雷射位移感測器在精密感測市場實現重大擴張。與我們的汽車解決方案一樣，Eve 1 由 Aeva 的核心視覺打火機片上模組提供支持，但專為大批量和線上工業自動化應用（例如工廠和製程自動化）而設計。

As the industry's first FMCW-based displacement sensor, we believe Aeva's Eve 1 represents a breakthrough for industrial sensing. It brings a number of major performance, size and cost advantages versus current solutions that primarily use the laser triangulation approach.

作為業界首款基於 FMCW 的位移感測器，我們相信 Aeva 的 Eve 1 代表了工業感測的突破。與目前主要使用雷射三角測量方法的解決方案相比，它具有許多主要的性能、尺寸和成本優勢。

For example, Eve 1D sensors are designed to measure down to sub micron precision and due to the coaxial measurement can operate across a wide range of target standoff businesses all the way up to 20 years, all within the same compact and all in one form factor that combines measurement and data processing.

例如，Eve 1D 感測器設計用於測量亞微米精度，並且由於同軸測量，可以在廣泛的目標隔離業務中運行長達 20 年，所有這些都在同一個緊湊且集測量和數據處理於一體的外形中。

And because of FMCW's immunity to interference from other sources of light, our sensors can maintain this high level of precision in a wide range of operating conditions. These advantages allow for faster, more precise inspection, giving customers high levels of throughput, improved quality control, and better cost efficiency in the manufacturing processes.

而且由於 FMCW 不受其他光源幹擾，我們的感測器可以在各種操作條件下保持這種高精度。這些優勢使得檢查速度更快、更精確，從而為客戶提供高水準的產量、改進的品質控制以及更好的製造過程成本效率。

We are very encouraged by the significant commercial momentum and positive feedback we're already receiving with leading industrial automation companies. Due to our sensors' ability to address many of the shortcomings of traditional triangulation solutions.

我們對領先的工業自動化公司所展現出的巨大商業動能和正面回饋感到非常鼓舞。由於我們的感測器能夠解決傳統三角測量解決方案的許多缺點。

We have already signed on multiple strategic customers including SICK AG and LMI Technologies. These customers are leaders with more than 15% of the market share and volumes close to over 300,000 units per year just for these high precision sensors. Our first orders of over 1,000 sensors are already booked, and our initial shipments to select customers have already started.

我們已經簽約了包括 SICK AG 和 LMI Technologies 在內的多家策略客戶。這些客戶是市場領導者，佔據超過 15% 的市場份額，光是這些高精度感測器的年銷量就接近 30 萬台。我們的首批訂單超過 1,000 個感測器已被預訂，我們已經開始向特定客戶發貨。

Given the strong reception of the market, we're working on ramping up our capacity to meet the growing demand for our Eve 1 sensors with our existing manufacturing partners.

鑑於市場強烈反響，我們正在與現有製造合作夥伴合作提高產能，以滿足對 Eve 1 感測器日益增長的需求。

In addition to our strategic first customers, we are engaged with multiple other leaders in this large but concentrated marketplace, where the Top 5 participants represent around 60% of the market. The overall addressable market for these laser displacement sensors is greater than $4 billion today with annual volumes of more than 2 million sensors.

除了我們的策略首批客戶之外，我們還與這個龐大而集中的市場中的多位其他領導者合作，其中前五名參與者佔據了約 60% 的市場份額。目前，這些雷射位移感測器的整體潛在市場規模超過 40 億美元，年銷量超過 200 萬個感測器。

It is projected to grow meaningfully as laser displacement sensors are redefining precision manufacturing and quality control in automated production environments across many industries. From positioning during manufacturing to inspection of a wide range of components and products such as PCBs, metal sheets, or tire threads, to even packaging, laser displacement sensors are increasingly utilized in numerous factory and process automation applications.

隨著雷射位移感測器重新定義許多行業自動化生產環境中的精密製造和品質控制，預計它將實現有意義的成長。從製造過程中的定位到各種組件和產品（如 PCB、金屬板或輪胎線）的檢查，甚至包裝，雷射位移感測器越來越多地應用於眾多工廠和製程自動化應用中。

And because of Aeva's ability to directly measure velocity, we believe our technology will open up new capabilities that bring the possibility to expand the use of Eve 1 sensors across the industrial precision market. We're already exploring with existing customers to leverage this capability.

由於 Aeva 能夠直接測量速度，我們相信我們的技術將開啟新的功能，從而有可能擴大 Eve 1 感測器在工業精密市場的使用。我們已經在與現有客戶一起探索如何利用這項功能。

Aeva is uniquely positioned for the high precision sensing market due to FMCW's ability to achieve the needed micron level precision that is not possible with timely lighter from metrology applications with Nikon to displacement sensors with SICK AG and others. We see significant opportunity to continue growing in the large industrial robotics and the factory automation market.

Aeva 在高精度感測市場中佔據著獨特的地位，因為 FMCW 能夠實現所需的微米級精度，而這種精度是尼康的計量應用、SICK AG 等公司的位移感測器所無法達到的。我們看到大型工業機器人和工廠自動化市場持續成長的巨大機會。

Leveraging our core vision, Lidar-on-chip module, and our proprietary precision algorithms for the industrial applications.

利用我們的核心願景、片上雷射雷達模組以及我們專有的精密演算法來實現工業應用。

Let's now move to an update on our progress with the Global Top10 Passenger OEM.

現在讓我們來了解一下全球十大乘用車原始設備製造商的最新進展。

We have officially kicked off our development program with the OEM and have already achieved the first milestone centered around integration. As we announced back in March, this OEM has selected Aeva for a LiDAR development program for its next generation global production vehicle platform, where we are jointly working closely on development and integration of Aeva's Atlas Ultra 4D LiDAR for use across a broad range of OEMs global line of passenger vehicles.

我們已經與 OEM 正式啟動了開發計劃，並且已經實現了以集成為中心的第一個里程碑。正如我們三月宣布的那樣，該 OEM 已選擇 Aeva 為其下一代全球量產汽車平台提供 LiDAR 開發項目，我們正在密切合作，開發和整合 Aeva 的 Atlas Ultra 4D LiDAR，以供廣泛的 OEM 全球乘用車系列使用。

This is effectively the first development phase of a serial production program. As you may recall, in addition to the development program. We also secured a letter of intent from this OEM toward the serious production program award. We expect that upon successful completion of the development program which is expected later this year, the engagement will transition to a large scale, global production program opportunity for Aeva.

這實際上是批量生產計劃的第一個開發階段。您可能還記得，除了開發計劃之外。我們也從該 OEM 獲得了一份有關重要生產計劃獎項的意向書。我們預計，預計在今年稍後成功完成開發計劃後，該合作將轉變為 Aeva 的大規模全球生產計劃機會。

We're highly encouraged by the strong start to the development program and believe the overall progress we continue to make positions as well for the OEMs serious production award.

我們對開發計劃的良好開端感到非常鼓舞，並相信我們繼續取得的整體進展以及獲得 OEM 重要生產獎的資格。

I would now like to discuss the new strategic collaboration that we announced earlier today.

現在我想討論一下我們今天早些時候宣布的新的策略合作。

Our partner will invest up to $50 million in Aeva through a combination of $32.5 million in Aeva common stock and up to $17.5 million in new joint product development revenue, as well as capital investments to bring production capacity online for Aeva's next generation solutions across automotive, industrial, and consumer applications. As part of this, the partner will take an approximately 6% stake of equity in Aeva.

我們的合作夥伴將透過 3,250 萬美元的 Aeva 普通股和高達 1,750 萬美元的新聯合產品開發收入的組合向 Aeva 投資高達 5,000 萬美元，以及資本投資，為 Aeva 在汽車、工業和消費應用領域的下一代解決方案提供生產能力。作為其中的一部分，合作夥伴將持有 Aeva 約 6% 的股權。

With our strategic partner, we plan to accelerate Aeva product roadmap in industrial and expand into new consumer applications and markets, utilizing our partners' global manufacturing expertise and electronics innovation.

我們計劃與策略合作夥伴一起，利用合作夥伴的全球製造專業知識和電子創新，加速 Aeva 在工業領域的產品路線圖，並擴展到新的消費應用和市場。

As part of the agreement, Eeva will also select this company as our Tier 2 manufacturing partner for the Global Top 10 Passenger OEM Program. The OEM has extensive experience working with our strategic partner, and our partner's decision to invest and partner with Eeva is a major vote of confidence in the performance, maturity, and scalability of our LiDAR.

作為協議的一部分，Eeva 還將選擇該公司作為全球十大乘用車 OEM 計劃的二級製造合作夥伴。OEM 與我們的策略合作夥伴合作擁有豐富的經驗，我們的合作夥伴決定投資並與 Eeva 合作，這是對我們的 LiDAR 的效能、成熟度和可擴展性的重大信任。

We believe this further positions Aeva to successfully transition our development program with the OEM into the series production phase.

我們相信，這進一步使 Aeva 能夠成功地將我們與 OEM 的開發計劃過渡到批量生產階段。

More broadly this strategic collaboration marks another significant validation from a highly respected technology and manufacturing leader that Aeva's differentiated FMCW tech is a future for the industry.

更廣泛地說，此次策略合作標誌著備受尊敬的技術和製造業領導者的又一次重要認可，即 Aeva 的差異化 FMCW 技術代表著產業的未來。

The company sees significant potential for LiDAR, to bring new levels of perception across many applications. They have significant experience with LiDAR, as well as have extensively evaluated all other LiDAR solutions.

該公司看到了 LiDAR 的巨大潛力，它將為許多應用帶來新的感知水平。他們在 LiDAR 方面擁有豐富的經驗，並且對所有其他 LiDAR 解決方案進行了廣泛的評估。

The decision to invest in Aeva and partner on joint development was driven by a partner's view that a scalable high performance FMCW LiDAR is key to enabling broad deployments of perception solutions across multiple use cases in multiple and markets, not only in automotive but also industrial and across consumer markets as well.

決定投資 Aeva 並與合作夥伴進行聯合開發，是因為合作夥伴認為可擴展的高性能 FMCW LiDAR 是實現感知解決方案在多個市場中的多種用例廣泛部署的關鍵，不僅在汽車領域，而且在工業和消費市場中也是如此。

We are incredibly excited about this new strategic collaboration. In the coming months, we plan to name the partner, and both companies plan to jointly provide more details about our new partnership. We look forward to jointly leveraging our respective strengths and to accelerate the adoption of Aeva technology across a broad range of markets and applications.

我們對這項新的策略合作感到無比興奮。在接下來的幾個月裡，我們計劃宣布合作夥伴，兩家公司計劃共同提供有關我們新合作夥伴關係的更多細節。我們期待共同發揮各自的優勢，加速 Aeva 技術在廣泛市場和應用領域的應用。

Turning now to Aeva's recent entrance into a new market, Intelligent Transportation Systems or ITS. This is an area where there has been growing adoption of LiDAR to enable safer and more efficient roadways and other modes of transport. Sensys Gatso, recently selected Aeva as the exclusive LiDAR provider for its new mobile speed detection products in Australia. Our 40 LiDAR's velocity measurement will provide speed verification to help address speeding problems and improve road safety at high-risk locations.

現在來談談 Aeva 最近進入的一個新市場，即智慧交通系統 (ITS)。在這個領域，光達的應用越來越廣泛，以使道路和其他交通方式更加安全、高效。Sensys Gatso 最近選擇 Aeva 作為其在澳洲的新型移動測速產品的獨家 LiDAR 供應商。我們的 40 個 LiDAR 速度測量將提供速度驗證，以幫助解決超速問題並提高高風險地區的道路安全。

Sensys Gatso is a global leader in traffic safety enforcement solutions. Besides Australia the company's solutions are in 60 countries with more than 60,000 deployments globally. Initial deployments of Ave 1 sensors in Australia have begun, and we look forward to supporting additional deployments in that country and exploring with censors on rollouts and additional markets.

Sensys Gatso 是交通安全執法解決方案領域的全球領導者。除澳洲外，該公司的解決方案還覆蓋 60 個國家，全球部署超過 60,000 個。Ave 1 感測器在澳洲的初步部署已經開始，我們期待支持該國的更多部署，並與審查人員一起探索推廣和其他市場。

It was also engaged on a number of other ideas opportunities besides Sensys Gatso and are making strong progress on expanding in this area.

除了 Sensys Gatso 之外，該公司還致力於許多其他創意機會，並在該領域的擴展方面取得了長足的進步。

With that, let me now turn the call over to Saurabh, who will share our financial results.

現在，我將把電話轉給 Saurabh，他將分享我們的財務表現。

Thank you, Soroush, and good afternoon, everyone. I would now like to discuss Aeva's first quarter 2025 financial results.

謝謝你，Soroush，大家下午好。現在我想討論一下 Aeva 2025 年第一季的財務表現。

Revenue in Q1 was $3.4 million. While still early in our commercialization, this was a record product revenue in the quarter and reflects the continued growth in commercial traction from automotive and industrial customers. The NRE revenues are driven primarily by the Daimler Truck program.

第一季的營收為 340 萬美元。雖然我們的商業化仍處於早期階段，但這是本季創紀錄的產品收入，反映了汽車和工業客戶商業吸引力的持續成長。NRE 收入主要來自戴姆勒卡車計畫。

Q1 Non-GAAP operating loss was $25.9 million, which is 19% lower year-over-year. This is consistent with our plan to reduce non-GAAP operating expense by 10% to 20% on a full year basis.

第一季非公認會計準則營業虧損為 2,590 萬美元，年減 19%。這與我們全年將非公認會計準則營運費用降低 10% 至 20% 的計劃一致。

Gross cash use was $31.3 million in the quarter, comprised of operating cash use of $30.8 million and capital expenditures of $0.5 million. Typically our Q1 cash use is higher compared to the rest of the year driven by timing of payments and working capital.

本季總現金使用量為 3,130 萬美元，其中包括 3,080 萬美元的營運現金使用量和 50 萬美元的資本支出。通常，由於付款時間和營運資金的原因，我們第一季的現金使用量比一年中其他時間要高。

We finished Q1 with total available liquidity of $206 million, which includes $81 million in cash equivalents and marketable securities, and a $125 million in undrawn facility that is fully available to draw at Aeva's sole discretion. This liquidity position does not reflect our new strategic collaboration with the global Fortune 500 companies technology subsidiary.

我們在第一季結束時的總可用流動資金為 2.06 億美元，其中包括 8,100 萬美元的現金等價物和有價證券，以及 1.25 億美元的未提取信貸額度，Aeva 可自行決定提取這些信貸額度。這種流動性狀況並未反映我們與全球財富 500 強公司技術子公司的新策略合作。

We anticipate closing the$ 32.5 million equity investment portion in the coming months pending regulatory review and satisfaction of customary closing conditions.

我們預計在未來幾個月內完成 3,250 萬美元的股權投資部分，等待監管部門審查並滿足慣例成交條件。

As we demonstrated in Q1, we remain thoughtful in how we invest. We believe we can scale manufacturing while continuing to win additional business and lower total spend.

正如我們在第一季所展示的那樣，我們在投資方式上仍然深思熟慮。我們相信，我們可以擴大生產規模，同時繼續贏得更多業務並降低總支出。

And with the increasing commercial momentum across the board, we now have added confidence to increase our revenue range to at least by 80% to 100% growth on a full year basis compared to 2024. This does not yet incorporate the strategic collaboration announced today, and we look forward to providing an update at our Eeva day as Soroush will share later.

隨著商業動能全面增強，我們現在更有信心將全年收入範圍提高到與 2024 年相比至少 80% 至 100% 的成長。這尚未納入今天宣布的策略合作，我們期待在 Eeva 日提供最新消息，Soroush 稍後會分享。

Now let me hand the call back to Soroush who will provide closing remarks.

現在，讓我將發言權交還給 Soroush，他將作最後的發言。

Thank you, Saurabh. Aeva is off to a very strong start in 2025, and I'm pleased with our progress. We continue to believe that we are at an inflection in our commercial momentum as we make significant progress with the Global Top 10 passenger OEM and secure major customers across an expanding list of applications from automotive to industrial automation and most recently ITS.

謝謝你，Saurabh。Aeva 在 2025 年取得了非常強勁的開局，我對我們的進展感到滿意。我們始終相信，隨著我們與全球十大乘用車原始設備製造商的合作取得重大進展，並在從汽車到工業自動化以及最近的 ITS 等不斷擴大的應用領域中贏得主要客戶，我們的商業勢頭正處於轉折點。

With our new strategic collaboration with the global Fortune 500 company, we are in an even stronger position to accelerate the adoption of our differentiated technology platform to global scale and enter new markets.

透過與全球財富 500 強公司建立新的策略合作關係，我們能夠更有效地加速在全球範圍內採用我們的差異化技術平台並進入新的市場。

There is indeed a ton going on at Aeva , and we are just getting started. I am pleased to share that later this summer on July 31, we plan to host an Aeva Day in New York City where we will dive deeper into our unique technology, commercial traction, including with our customers and partners, and overall outlook for the company. Please stay tuned for more details to be shared in the coming weeks.

Aeva 確實有很多事情要做，而我們才剛開始。我很高興地告訴大家，今年夏天晚些時候，即 7 月 31 日，我們計劃在紐約市舉辦 Aeva Day 活動，屆時我們將與客戶和合作夥伴深入探討我們獨特的技術、商業吸引力以及公司的整體前景。請繼續關注未來幾週內將分享的更多詳細資訊。

In closing, I'd like to thank the Aeva team for delivering our amazing accomplishments in this quarter and to all of our stakeholders for their ongoing support.

最後，我要感謝 Aeva 團隊在本季取得的驚人成就，並感謝所有利害關係人的持續支持。

And with that we will now move on to Q&A.

好了，我們現在進入問答環節。

(Operator Instructions)

（操作員指示）

Colin Rusch, Oppenheimer.

奧本海默的科林·拉什。

Thanks so much guys and congratulations on all the progress. So with with this new partner, I know you're you're going to be sharing details over time, but can you talk a little bit about which incremental target markets you may be able to address with this partner as as part of your manufacturing process.

非常感謝大家，並祝賀你們所取得的所有進步。因此，對於這個新合作夥伴，我知道您將隨著時間的推移分享細節，但您能否談談作為製造過程的一部分，您可以與這個合作夥伴一起解決哪些增量目標市場。

Hey Colin. Yeah, happy to answer that. So first of all, we're very excited about this partnership and the strategic partner that we announced earlier. As you mentioned, the ink is dry but I can tell you at a high level this is a very critical and I think crucial partnership that we're forming. I think our target clearly is here is not just to continue delivering, let's say on our automotive only products. This is not the only piece. It's actually to expand into new markets. This includes the consumer market application which this partner has considerable experience in. This includes working on joint products across that and for new markets, especially also accelerating in industrial applications.

嘿，科林。是的，很高興回答這個問題。首先，我們對此次合作以及我們先前宣布的策略合作夥伴感到非常興奮。正如您所說，墨跡尚未乾，但我可以高調地告訴您，這是我們正在建立的非常關鍵、而且我認為至關重要的伙伴關係。我認為我們的目標顯然不僅僅是繼續提供汽車專用產品。這不是唯一的作品。這其實是為了拓展新市場。其中包括該合作夥伴擁有豐富經驗的消費市場應用。這包括跨市場和新市場的聯合產品開發，特別是在工業應用領域的加速發展。

And then on top of that, we are are also working with this partner given their existing experience. They're a well known automotive tier qualified partner in the space. They're already a Tier 2 in the space. So, and they have a number of relationships with key OEMs, including with the Top 10 passenger OEM that we announced earlier.

除此之外，我們還將根據其現有的經驗與該合作夥伴進行合作。他們是該領域知名的汽車級合格合作夥伴。他們已經是該領域的二級企業了。因此，他們與許多主要 OEM 建立了合作關係，包括我們先前宣布的十大乘用車 OEM。

So we have also decided as part of this to select them and partner with them as our Tier 2 manufacturing partner for the Top 10 passenger OEM program, which gives us that even added vote of confidence in our position in the automotive space with that Top 10 passenger OEM. But also I think what we're really excited about is the opportunities with their scale. They're part of the global 500 Fortune company and we are excited to leverage that scale to take us into the next chapter with those other applications.

因此，我們也決定選擇他們，並與他們合作，成為十大乘用車 OEM 計劃的二級製造合作夥伴，這讓我們對自己在汽車領域憑藉十大乘用車 OEM 的地位更加充滿信心。但我也認為，我們真正興奮的是他們的規模所帶來的機會。他們是全球 500 大財富公司的一部分，我們很高興能夠利用這種規模，透過其他應用程式帶領我們進入下一章。

So obviously that is also strengthened by their commitments which is real and in the form of strategic investment into the company the tune of $50 million. So, we are excited to kick this off together.

因此，顯然他們的承諾也加強了這一點，他們的承諾是真實的，並以 5000 萬美元的策略投資形式向公司投資。因此，我們很高興能夠一起開始這項工作。

Amazing and then the second question is really around the relationship with sick, pretty substantial opportunity just not only with them but with metrology and other industrial centers, I guess how are you thinking about that relationship starting to evolve, considering the the range of products that they offer and kind of the foundational technology that you guys could bring to that platform.

令人驚訝的是，第二個問題實際上是關於與 Sick 的關係，相當大的機會不僅與他們，而且與計量和其他工業中心，我想您如何看待這種關係開始發展，考慮到他們提供的產品範圍和您可以帶到該平台的基礎技術。

Yeah, absolutely. Look I think as you can see, we are also very excited about that. I think this is, I would say this area and this market, especially for Aeva, I think is one that I think can be easily overlooked. I think this is an opportunity in a market that is massive. We're talking here about a 2 million units per year, just for high precision sensors, and it's kind of a consolidated market with some of the key leaders in the space. So it's a market that's here and now.

是的，絕對是如此。我想正如你所看到的，我們對此也感到非常興奮。我認為，這個領域和這個市場，特別是對 Aeva 來說，是很容易被忽略的。我認為這是一個巨大市場中的機會。我們在這裡談論的是每年約 200 萬台高精度感測器，這是一個整合的市場，擁有該領域的一些關鍵領導者。所以這是一個現存的市場。

And as you mentioned with SICK for example, we have a long strategic partnership. They're one of our first customers in the space.

正如您所提到的，我們與 SICK 建立了長期的策略合作夥伴關係。他們是我們在該領域的首批客戶之一。

They are a great partner for us to bring this technology to the market. One that we see is going to be disruptive in the space and one that SICK is really invested and committed to making happen. So SICK by itself, by themselves do about close to 15% of this market share they own, close to 300,000 units. So that is something that is quite significant, and we see the opportunity that over time to transition across the, maybe a significant portion if not majority of the portion of that portfolio to FMCW technology, we should also tell you kind of the confidence that I think SICK has also in FMCW.

他們是我們將這項技術推向市場的優秀合作夥伴。我們認為這將對該領域產生顛覆性的影響，而 SICK 也確實投入並致力於實現這一目標。因此，SICK 本身就佔據了其所擁有的約 15% 的市場份額，接近 30 萬台。所以這是一件非常重要的事情，我們看到了隨著時間的推移，可能很大一部分（如果不是大部分）產品組合向 FMCW 技術轉變的機會，我們也應該告訴你，我認為 SICK 對 FMCW 也有信心。

So that's I think is important. We have been talking about the flexibility and performance capability of our platform, our perception platform for quite some time, and now, Aeva has been delivering on that, working from Aeva's ultra then to this Eve 1 precision sensors. We now have a platform that same exact core vision chip module with our proprietary precision algorithms can achieve so micron precision, which is something that is precision, which is something that's really powerful, but in a way that is small, definitely lower in cost and and more repeatable, so that allows folks like SICK and others to then implement this and move on.

所以我認為這很重要。我們一直在談論我們的平台、我們的感知平台的靈活性和性能能力，現在，Aeva 一直在實現這一點，從 Aeva 的超級感測器到現在的 Eve 1 精密感測器。我們現在擁有一個平台，該平台採用完全相同的核心視覺晶片模組和我們專有的精密演算法，可以達到微米級的精度，這是一種精度，非常強大，但體積小，成本更低，可重複性更高，因此 SICK 等公司可以實現這一點並繼續前進。

So from in this short period of time we announced Eve 1. We are now actually have since then past few weeks recently announced two strategic partners, SICK as well as LMI Technologies, which is another player in the space, especially including the 3D sensing space, and we have also booked our first over 1,000 units orders. Just in the past few short weeks, so that's, I think already is giving us a lot of strong signals and traction and momentum in the market.

因此，從這短暫的時間內我們就發布了 Eve 1。實際上，自過去幾週以來，我們最近宣布了兩個策略合作夥伴，SICK 和 LMI Technologies，後者是該領域的另一個參與者，尤其是 3D 感測領域，我們也已收到首批超過 1,000 台的訂單。就在過去短短幾週內，我認為這已經向我們發出了許多強烈的訊號、牽引力和市場動力。

And on top of that we've already started delivering the first unit. So we expect that this trend to continue. We see that this 1,000 units is going to transition to 10s of 1,000 units in the near term, and then from there we hope to expand that to 100.

最重要的是，我們已經開始交付第一批產品。因此我們預計這種趨勢將會持續下去。我們看到，這 1,000 個單位將在短期內轉變為數十個 1,000 個單位，然後我們希望將其擴大到 100 個單位。

And we think that by itself is considerable. Just to give you a rough idea of the size of the market in terms of annual revenues is about, $4 billion from here, $4 billion annually going to $6 billion and just taking, a small percentage of that we think is going to be very key and crucial for our company, so.

我們認為這本身就具有重大意義。僅讓您大致了解市場規模，就年收入而言，大約是 40 億美元，從現在開始，每年 40 億美元將增長到 60 億美元，我們認為其中的一小部分對於我們公司來說非常關鍵，所以。

Great. Thank you so much you guys.

偉大的。非常感謝你們。

Joe Moore, Morgan Stanley

摩根士丹利喬摩爾

Yeah, I also wanted to ask about the laser displacement sensor opportunity. If, how long does it take you to ramp new customers? You've been working with SICK for a number of years now and Ikon and other industrial companies like as you proliferate the technology, is there going to be a shorter lead time to bring on new customers and just, give us a sense for how quickly this market can evolve for you?

是的，我也想問一下雷射位移感測器的機會。如果是，您需要多長時間才能吸引新客戶？您已經與 SICK、Ikon 和其他工業公司合作多年，隨著您技術的普及，是否會縮短吸引新客戶的準備時間，請讓我們了解這個市場對您來說發展得有多快？

Yeah, absolutely, I think, it's. I would say it's the usual way right? The first one is it takes time and from there, we also work with that to define the key product, and that's what we have been doing with SICK as a strategic partner, which has been a fantastic relationship. And from there, for example, working with LMI has been a much shorter time frame and we have other engagements in the pipeline that we see in there, as I mentioned. A handful of players and make about 2 million sensors per year and SICK by themselves represent 15%.

是的，我認為絕對是這樣的。我想說這是通常的方式，對嗎？首先，這需要時間，從那時起，我們也要利用這段時間來確定關鍵產品，這就是我們與 SICK 作為策略夥伴所做的事情，這是一種非常好的合作關係。從那時起，例如，與 LMI 的合作時間就短得多，而且正如我所提到的，我們還有其他合作正在進行中。少數參與者每年生產約 200 萬個感測器，其中 SICK 佔 15%。

So others, also present in significant chunks and we have quite a bit of interest, as you can imagine in the space already for this. So we don't expect that each new engagement is going to be in a matter of years from here. We think it's much shorter than that, hopefully in a matter of months. And most importantly now that we have a product that we are planning on scaling throughout this year with these first 1,000 plus units, we are already seeing additional orders coming in and as a response to that we're actually building up and ramping up our manufacturing capacity to build that up for this market.

因此，其他人也佔據了相當大的份額，我們有相當多的興趣，正如你可以想像的，他們已經在這個領域中了。因此，我們並不期望每一項新的合作都會在幾年後才會出現。我們認為這個過程會短得多，希望在幾個月內完成。最重要的是，現在我們計劃在今年全年擴大產品的產量，生產超過 1,000 台，我們已經看到了額外的訂單，作為對此的回應，我們實際上正在建立和提升我們的製造能力，為這個市場打造產品。

And I think of course separately the strategic investment and what we talked about, with our partner there, is going to be helpful overall for us as we install our manufacturing capacity. So that's what I would say for this. I just want to add something, on the manufacturing capacity side, we set the goal earlier at the beginning of the year, which was, I guess, just a month or two ago, as a target to install a manufacturing capacity of 100,000 units per year, and the team is executing on this. That's coming along very nicely with, the first kind of piece of equipment on the line and that being brought up. So we are on track for that and we have now more confidence and more kind of fire in the cylinder to be able to build that up given this momentum and in this industrial automation space.

當然，我認為，單獨的策略性投資以及我們與合作夥伴討論的內容，對於我們安裝製造能力總體上是有幫助的。這就是我要說的。我只想補充一點，在製造能力方面，我們在年初就設定了目標，我想，就在一兩個月前，目標是實現每年 10 萬台的製造能力，團隊正在執行這一目標。這與生產線上的第一種設備以及即將推出的設備進展非常順利。因此，我們正朝著這個目標前進，現在我們更有信心，也更有動力，能夠在這種勢頭和工業自動化領域實現這一目標。

Great, thank you.

太好了，謝謝。

George Jane Carey [satanic] or Genuity.

喬治·簡·凱裡（George Jane Carey）[撒旦]或 Genuity。

Hi everyone, thank you for taking my questions. Can you maybe talk about a little bit of, potential momentum you have with other passenger OEMs in addition to, the LOI you signed very recently? Any continued conversations there you can describe?

大家好，感謝你們回答我的問題。除了您最近簽署的意向書 (LOI) 之外，您能否談談您與其他乘用車原始設備製造商之間的潛在合作勢頭？您可以描述一下那裡繼續進行的對話嗎？

Thank you.

謝謝。

Yeah, George, happy to answer that. So obviously, it's important to highlight that our vision from the beginning has been perception for everything. We are building a platform across multiple applications. We are delivering on that vision. We have now a strong kind of a strong traction with an automotive starting down the truck.

是的，喬治，很高興回答這個問題。因此，顯然，必須強調的是，我們從一開始的願景就是對一切事物的感知。我們正在建立一個跨多個應用程式的平台。我們正在實現這個願景。現在，當汽車從卡車上下來時，我們有一種強大的牽引力。

I comment on that a little bit. That is a global production program that's been ongoing for well over a year and a half hour or so, and we are, in a billion dollar program opportunity for us as we go forward. We are delivering on track across the milestones there, and.

我對此稍作評論。這是一個全球性的生產計劃，已經持續了大約一年半的時間，隨著計劃的推進，我們將迎來價值 10 億美元的項目機會。我們正在按計劃實現那裡的里程碑。

Part of that all on the capacity is is also of course important for the down the truck production program. So the team has been really delivering well and we're seeing, our products on the road with the diamond truck and torque vehicles actually operating on the road, so that's very helpful. And separately from that on the you mentioned the Top 10 passenger OEM. We have already kicked off the development program. We've kicked off the development phase and achieved actually the very first milestones in this past month and a half or so.

當然，產能對於卡車生產計畫的降低也很重要。因此，團隊的表現確實很好，我們看到我們的產品在路上行駛，鑽石卡車和扭矩車輛實際上都在路上行駛，所以這非常有幫助。除此之外，您還提到了十大乘用車原始設備製造商。我們已經啟動了開發計劃。我們已經啟動開發階段，並在過去一個半月左右的時間內實現了第一個里程碑。

So that's very encouraging and everything has gone on track for us to be able to transition this program later on to the production phase. But this is not everything. Beyond that, we have a number of other engagements across both commercial vehicles where we see significant value. We are seeing some of the folks are working with, let's say others in time of flight space looking to transition to FMCW for long range commercial vehicle space, obviously given our relationship with Daimler and our experience there qualifying a product for the trucking space, which is no easy feat. This is something that we are investing in and we see good opportunities there across multiple programs, but we're also engaged in Top passenger OEMs, other OEM RFQs that have also advanced what we believe we are kind of converging on towards some decisions.

這非常令人鼓舞，一切都進展順利，我們能夠將這個專案過渡到生產階段。但這還不是全部。除此之外，我們也與這兩款商用車公司進行了許多其他合作，我們認為這些合作具有重大價值。我們看到一些人正在與飛行時間領域的其他人合作，希望將遠程商用車輛領域轉向 FMCW，顯然考慮到我們與戴姆勒的關係以及我們在那裡為卡車運輸領域生產合格產品的經驗，這絕非易事。這是我們正在投資的領域，我們在多個專案中看到了良好的機會，但我們也參與了頂級乘用車原始設備製造商 (OEM) 和其他 OEM 的 RFQ，這些 RFQ 也推動了我們的發展，我們相信我們正在朝著某些決策邁進。

So there is a number of opportunities, including really reputable op OEMs across both passenger and commercial vehicles. They're not only limited to full autonomy stack. There are also some ADAS programs in there, which is quite interesting, especially given the size of the volumes. So overall, I think the opportunity ahead of us is quite massive, and I think we're going to be hopefully in a position to be able to select where we're headed and focus on the right programs that align strategically with our business objectives, as well as our, kind of key focus across, the markets.

因此存在許多機會，包括乘用車和商用車領域真正享有盛譽的原始設備製造商 (OEM)。它們不僅限於完全自主堆疊。其中還有一些 ADAS 程序，這非常有趣，尤其是考慮到其數量規模。所以總的來說，我認為我們面前的機會是巨大的，我認為我們將有希望選擇我們的發展方向，並專注於與我們的業務目標以及我們在整個市場的重點相符的正確項目。

Thank you. And maybe as a follow up, I, you mentioned that you're increasing the guidance to 80% to 100% growth, I think. Can you just maybe describe again where that strength is coming from that led you to that increase?

謝謝。也許作為後續，我，您提到您將把成長預期提高到 80％ 到 100％，我想。您能否再描述一下，促使您實現這成長的力量來自哪裡？

Thank you.

謝謝。

Hey George, I'm happy to take that question. This is Saurabh.

嘿喬治，我很高興回答這個問題。這是 Saurabh。

So yeah, I mean we have, as you are seeing that we are having increased momentum, both on industrial as well as automotive markets and, this, added, upping the guidance is coming from primarily the. Product revenue piece and as I mentioned in my prepared remarks we had a record product revenue this quarter and we are super excited as we execute on this keep in mind this guidance does not break into the strategic collaboration we announced earlier in the day that we will discuss more at the Aeva day on July 31 in New York City.

是的，我的意思是，正如您所看到的，我們在工業和汽車市場上都擁有成長勢頭，而且，增加指導主要來自於此。產品收入部分，正如我在準備好的發言中提到的那樣，本季度我們的產品收入創下了歷史新高，我們對實現這一目標感到非常興奮，請記住，這一指導不會影響我們當天早些時候宣布的戰略合作，我們將在 7 月 31 日在紐約舉行的 Aeva 日上進一步討論。

Thank you.

謝謝。

Richard Shannon, Craig Callum.

理查德·香農、克雷格·卡勒姆。

Hi, this is Tyler Ron for Richard Shannon. I was wondering when you're talking about increasing the volumes in the industrial market by 10x and calendar '25, how do we think about the revenue contribution with that? And are the gross margins here better than the corporate average?

大家好，我是理查德·香農 (Richard Shannon) 的泰勒·羅恩 (Tyler Ron)。我想知道，當您談到將工業市場的銷售量增加 10 倍並在 25 年內增加時，我們如何看待這對收入的貢獻？這裡的毛利率是否高於企業平均？

Yeah, hey.

是啊，嘿。

This is Soroush. Happy to take out of that, of course, yes sir I can add. So to answer your question, first of all the growth from there is coming actually from key customers we talked about obviously since we made the analysis one, as I mentioned, we have now signed on to strategic customers with over 1,000 units. So if you look at from a maybe revenue comment on that, but generally these are not insignificant.

這是 Soroush。當然，我很高興能從中受益，是的，先生，我可以補充。因此，要回答你的問題，首先，那裡的成長實際上來自於我們談到的關鍵客戶，顯然，自從我們進行分析以來，正如我所提到的，我們現在已經與擁有超過 1,000 個單位的戰略客戶簽約。因此，如果您從可能的收入角度來評論這一點，但總的來說，這些並不是微不足道的。

So you know we're talking about in the millions of dollars in terms of contributions here already and if you think about this market and the opportunities, what I can tell you generally APs for these types of sensors and the demand given the performance is actually quite considerable in the thousands of dollars, not something that is, as small as let's say a mass market automotive ASP. So that, I think given both the strength and the volumes opportunities in the hundreds of thousands of units as well as the ASPs that are being in the thousands of units, thousands of dollars per unit, we think is something that's quite important and, interesting for us to contribute anything for that, yeah.

所以你知道我們已經在談論數百萬美元的貢獻了，如果你考慮這個市場和機會，我可以告訴你，這些類型的感測器的 AP 和性能需求實際上是相當可觀的，在數千美元，而不是像大眾市場汽車 ASP 那麼小。因此，我認為，考慮到數十萬台設備的實力和產量機會，以及數千台設備的平均售價、每台設備數千美元，我們認為這是一件非常重要的事情，而且我們很有興趣為此做出任何貢獻，是的。

I think, only thing I'll add, we are making continuous improvement in our, cost to manufacture products, and as we scale, we expect to start having healthy margins and, until then gross margins may fluctuate in the near term.

我想，我唯一要補充的是，我們正在不斷改進產品製造成本，隨著規模的擴大，我們預計將開始擁有健康的利潤率，在此之前，毛利率可能會在短期內波動。

Awesome that makes sense. And then over what time do you expect to finish the manufacturing capacity ramp?

太棒了，很有道理。那麼，您預計什麼時候完成製造能力的提升？

You mean the installation of the manufacturing capacity?

您指的是製造能力的安裝嗎？

Yes, so you had said you were installing a machine and getting everything going for.

是的，所以您說過您正在安裝一台機器並讓一切順利進行。

That. Yeah, so this is this year, right? This is our goal. It's clear this year to install manufacturing capacity of about 100,000 units, and the team is working on that. We're moving on track to that. So which is important for us, as I mentioned earlier, going from just by the way, just for this laser displacement precision sensing market 1,000 units to tens of thousands of units and then from there hundreds of 1,000 units, we need this kind of capacity and we need it soon. So that's where the team is focused on. So and this does not include, of course, some of the all the programs we talked about on the automotive side, so.

那。是啊，所以這是今年，對嗎？這就是我們的目標。今年的安裝生產能力明確約10萬台，團隊正為此努力。我們正朝著這個目標前進。因此，正如我之前提到的，這對我們來說很重要，順便說一下，僅針對激光位移精密感測市場，從 1,000 台到數萬台，然後從數百台 1,000 台，我們需要這種容量，而且我們很快就需要它。這就是團隊關注的重點。當然，這不包括我們在汽車方面討論過的所有項目。

Awesome, thank you for taking my questions.

太棒了，謝謝你回答我的問題。

Suji Desilva, Roth Capital.

羅斯資本的蘇吉·德席爾瓦。

Hi, Soroush. Hi Saurabh, congrats on the progress here. Can you just recap for us, Soroush, the remaining milestones for the Global Top 10 Passenger OEM now that you've achieved this milestone.

你好，Soroush。你好，Saurabh，恭喜你的進展。Soroush，既然您已經實現了這一里程碑，您能否為我們回顧一下全球十大乘用車原始設備製造商剩餘的里程碑？

Yeah, so you're happy to do that. So, look, I think that's a good question overall, it is very important that the work that we've been doing is understood very clearly, right?

是的，所以你很樂意這麼做。所以，看，我認為總的來說這是一個好問題，非常清楚地理解我們一直在做的工作非常重要，對嗎？

So, first of all, we kicked off the program. We have achieved the first milestones around vehicle nation, and from here our work involves a number of activities around packaging and making sure the design of our sensor from a packaging standpoint, fits across the OEM's, global production platform for their multiple vehicle model lines, right? So that's important. So obviously each vehicle may have different trims or different integration studies to make that happen.

因此，首先，我們啟動了該計劃。我們已經在汽車領域取得了第一個里程碑，從這裡開始，我們的工作涉及一系列圍繞包裝的活動，並確保從包裝的角度設計的傳感器適合 OEM 的全球生產平台，適用於他們的多種車型系列，對嗎？這很重要。因此顯然每輛車可能有不同的裝飾或不同的整合研究來實現這一點。

But it's important to know that doesn't mean that we're customizing our products for every single one of these. It's just more of integration activity to make sure that the same product fits nicely and according to the all the specs to that so, and that is very clear.

但重要的是要知道，這並不意味著我們要針對每一個需求客製化我們的產品。這只是更多的整合活動，以確保相同的產品能夠很好地適應並符合所有規格，這是非常清楚的。

It has the work to be done between now and later this year so we're not relying on some sort of a, major innovation or some major kind of sample releases or something like that to get there, and which also why is why it gives us that added confidence as we continue to execute with this OEM. And importantly, as I mentioned, we're, we have this also production letter of intent, which is a key vote of confidence in how the OEM's and plans to partner with us as we transition from the development phase to the production phase.

從現在到今年晚些時候，我們還有很多工作要做，所以我們不依賴某種重大創新或某種重大樣品發布或類似的東西來實現目標，這也是為什麼它讓我們在繼續與這家 OEM 合作時更加有信心。重要的是，正如我所提到的，我們還有這份生產意向書，這是對 OEM 如何計劃在我們從開發階段過渡到生產階段時與我們合作的關鍵信任投票。

And lastly, as I mentioned, now that we have this strategic Fortune 500 company on board with us as a partner, both their strong commitments, their strong capability, their large balance sheet, their massive resources working alongside us as our Tier 2 manufacturing partner. Having that existing relationship with the Top 10 passenger OEM, being a well-known player in the space, all of that is, I think, was a strategic move that we have made, to, also ensure that we have a very clear and good path to closing this program out.

最後，正如我所提到的，現在我們已經有了這家戰略財富 500 強公司作為合作夥伴，他們的堅定承諾、強大的能力、龐大的資產負債表、龐大的資源與我們一起作為我們的二級製造合作夥伴開展工作。與十大乘用車原始設備製造商建立現有關係，成為該領域的知名企業，我認為，所有這些都是我們採取的戰略舉措，以確保我們有一個非常清晰和良好的途徑來結束這個項目。

It just sounds like reading between the lines of what you just said that the one of the reasons this OEM chose you is because of the flexibility and how relatively smooth this multi-vehicle fitting will go because of the FMCW and technology and your flexible design versus probably time of flight, which might be a little more tricky for each of the vehicles. Is That a fair statement?

這聽起來就像您剛才所說的話的字裡行間的意思，該 OEM 選擇您的原因之一是因為靈活性，以及​​由於 FMCW 和技術以及您的靈活設計與可能的飛行時間，這種多車輛適配將相對順利地進行，這對於每輛車來說可能有點棘手。這是一個公平的說法嗎？

Yeah, absolutely, and I can tell you, as a matter of fact. We are already discussing, with this OEM and others, and especially with this OEM around how we can work together, not just for this, initial generation, this first generation of production platform across these multiple model lines, but how we can work together around, new perception sensor products, across future model lines across future generations which, would have even, larger program volume opportunities as we go along. So having that conversation and then having those engagements also I think is something that, that's pretty important for us and is something that we are excited to be having.

是的，絕對如此，事實上我可以告訴你。我們已經在與這家 OEM 和其他公司（尤其是這家 OEM）討論如何合作，不僅僅是為了這一代產品、第一代生產平台，跨越多個車型系列，還包括如何圍繞新的感知感測器產品、跨越未來車型系列、跨越未來幾代產品進行合作，隨著我們的發展，我們將擁有更大的項目機會。因此，我認為進行這樣的對話並進行這樣的交流對我們來說非常重要，我們很高興能夠進行這樣的交流。

And actually that was my last question. In the Fortune 500 announcement you do mention, next gen perception sensing products. I think you hinted at it there. Maybe can you give us some ways to think about what that means in terms of roadmap versus the lighter product you've got.

事實上這是我的最後一個問題。在財富 500 強公告中您確實提到了下一代感知感測產品。我認為你在那裡暗示了這一點。也許您能給我們一些方法來思考這對路線圖和您擁有的更輕量級的產品意味著什麼。

Yeah, absolutely. So as part of this investment from this fortune company, it's in kind of a few different areas. One is equity stake into the company, about 6% as we mentioned on the press release and earlier.

是的，絕對是如此。因此，作為這家財富公司投資的一部分，它涉及幾個不同的領域。一是公司股權，大約 6%，正如我們在新聞稿和之前提到的。

The other piece is collaborating together around joint new product development and, new product development revenue, what we expect for Aeva to bring new products into new markets, including in the industrial market, as well as, working together around, enabling Aeva to enter, new markets such as consumer, which I mentioned earlier. So that's what, I can share at this point.

另一部分是圍繞聯合新產品開發和新產品開發收入進行合作，我們期望 Aeva 能夠將新產品帶入新市場，包括工業市場，以及共同努力，使 Aeva 能夠進入我之前提到的消費者等新市場。這就是我現在可以分享的內容。

And then lastly, obviously working together also around manufacturing as a tier 2 partner for this Top 10 OEM. So it's multiple levels and which is why it's a strategic collaboration. So, but I think overall we think this is also showcases how a kind of well-known partner in the space who has been, really, one of the years and of course, technology, sensors, manufacturing, we've been looking at a number of players across the space and after evaluating pretty much everybody, including other lighter sensor makers decided to partner with us with a strong commitment. So, we think all of that is positive, of course, for Aeva, but we think also is positive development for the industry as investments are happening in the space.

最後，顯然我們也將作為這十大 OEM 的二級合作夥伴在製造業開展合作。所以它是多層次的，這也是它是一種策略合作。所以，但我認為總的來說，我們認為這也展示了我們如何成為該領域知名的合作夥伴，我們多年來一直在關注該領域的許多參與者，當然還有技術、感測器和製造，在評估了幾乎所有參與者之後，包括其他打火機感測器製造商在內的所有人都決定與我們合作並做出堅定的承諾。因此，我們認為所有這些對 Aeva 來說都是積極的，但我們認為這對該行業來說也是積極的發展，因為該領域的投資正在進行中。

It appears that we have no further questions at this time. This will conclude Aeva Technologies first quarter 2025 earnings conference call.

目前看來我們沒有其他問題。Aeva Technologies 2025 年第一季財報電話會議將結束。

We thank you for your participation. You may disconnect at any time.

我們感謝您的參與。您可以隨時斷開連線。