Aeva Technologies, Inc. (NYSE:AEVA) Q4 2022 Earnings Call Transcript

Soroush Dardashti: Yeah, I think thanks for the question, Suji. So, the biggest thing for us is, working together with this OEM to help them integrate the unique technology in their stack, and as they build the rest of the stack around it, we think this is going to be a quite a powerful combination because of taking advantage, advantage of those unique data products. For example, when you go from, black and white cameras to color, using that color information, of course going to provide you with some new valuable information, right? So that’s what we’re doing, which involves specifically deployment of our LiDAR on their fleets, them integrating those data products in their stack and starting to build their actual software stack for their production vehicles as they move along.

So that I think is an important piece that we’re going to be working with this OEM in the next number of months to achieve that. And, generally this from you ask about, generally from, okay, when you go to a fleet, what happens next? Typically, the next stages go through the traditional award process, RFQ and award. And we — as I mentioned earlier, we are progressing with a number of others into the RFQ stages in the next months and expect some of those decisions to happen this year. So that’s, I think a couple of things I would say that you should be looking out for.

Suji Desilva: Okay. And then for a follow up, I think I know the answer to this, but does –is every customer going to have to go through this phase where they’re getting access to your velocity data and capability for essentially the first time and they have to kind of weave it in with theirs and meld it together? Or can some just benefit from all the learning you’ve done in-house in the past few years and just kind of run with that? Or just, is every customer going to have to kind of go through this phase? Yeah.

Soroush Dardashti: Yeah. So short answer is actually, as we implement this for initial customers, the fact that, so one thing also I mentioned earlier is even for this opt OEM, they’re starting to actually not just use the velocity, but also our perception software, right, and that I think actually is an important value proposition because it actually helps them accelerate their integration. So it’s not that this is a super long process. The fact that we have significant experience with our FMCW data, the fact that we have been developing the perception software in conjunction and parallel to our hardware is an important thing, and as we’re able to talk in the future, we will do that more about that. But, this specific top 10 customer and others, I think are going to be able to use, actually tap into our perception software to accelerate those integration pieces.

What I’m referring to is really the normal process that they have to kind of go through as they build up their vehicle fleets most — almost all OEMs prior to an actual launch. So that I think is important and we see this as a validation point for us to be able to then provide, take from those learnings and provide the perception software and the results from it to other customers as well.

Operator: Our next question comes from the line of Kevin Garrigan with WestPark Capital. Please proceed with your question.

Kevin Garrigan: Yeah. Hey guys. Thanks for letting me ask the question. Just one quick one for me. So besides Nikon with industrial metrology and SICK with industrial sensing, what are some other applications customers are looking to deploy your LiDAR for, and can you kind of remind us of your strategy in industrial market? I don’t think you guys are going after every single application, but what are some areas you’re focusing on, if any?