Torc and Aeva Strengthen Collaboration to Accelerate the Development of Autonomous Truck Technology

BLACKSBURG, Va. & MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Jan 2, 2025--

Aeva ® (NYSE: AEVA), a leader in next-generation sensing and perception systems, and Torc, an independent subsidiary of Daimler Truck and a pioneer in commercializing self-driving vehicle technology, today announced an expansion of their collaboration to advance the development of a new safety architecture for truck applications – enabling autonomous trucks to make safer, more intelligent decisions.

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Under the expanded collaboration, Torc and Aeva will work together on technology advancements in service of L4 autonomous trucking to benefit the development of Torc’s Virtual Driver vehicle software. The companies will share 4D LiDAR sensing data and share a Freightliner Cascadia vehicle platform for use in long-range sensing applications. The data captured will support deeper collaboration between global engineering teams at both companies.

“Aeva is pioneering the next generation of 4D LiDAR technology and we’re excited to enter a new phase of our collaboration to continue to position us as industry leaders in autonomous driving technology for production deployment at scale,” commented Peter Vaughan Schmidt, Torc CEO.

The collaboration builds on the production agreement signed last year when Daimler Truck selected Aeva as its supplier of long and ultra-long range LiDAR for its series production autonomous commercial vehicle program. The multi-year production agreement is targeting commercializing Daimler Truck autonomous trucks by 2027.

“Torc Robotics is a leader in commercializing autonomous truck technology and this expansion of our collaboration is a testament to the capabilities of our talented team and the strength of our production partnership with Torc and Daimler Truck,” said Soroush Salehian, Co-Founder and CEO at Aeva. “Now our global teams will work even closer together with joint sharing of sensing data from Aeva sensors on North America’s top trucking platform. We look forward to advancing our multi-year production collaboration to commercialize safe autonomous trucks on the road.”

About Torc Robotics

Torc Robotics, headquartered in Blacksburg, Virginia, is an independent subsidiary of Daimler Truck AG, a global leader and pioneer in trucking. Founded in 2005 at the birth of the self-driving vehicle revolution, Torc has nearly 20 years of experience in pioneering safety-critical, self-driving applications. Torc offers a complete self-driving vehicle software and integration solution and is currently focusing on commercializing autonomous trucks for long-haul applications in the U.S. In addition to its Blacksburg headquarters and engineering offices in Austin, Texas, and Montreal, Canada, Torc has a fleet operations facility in the Dallas-Fort Worth area in Texas, to support the company’s productization and commercialization efforts, as well as a presence in Ann Arbor, MI, to take advantage of the autonomous and automotive talent base in that region. Torc’s purpose is driving the future of freight with autonomous technology. As the world’s leading autonomous trucking solution, we empower exceptional employees, deliver a focused, hub-to-hub autonomous truck product, and provide our customers with the safest, most reliable, and cost-efficient solution to the market.

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, Aeries, Aeva Ultra Resolution, 4D Perception, and 4D Localization 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 expectations about our product features, performance and our relationship with Torc and Daimler Truck. 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 fact that Aeva is operating in an emerging market and there can be no assurance that LiDAR sensors will achieve commercial success in sufficient volume in the automotive or other markets (vi) ability to commercialize and market acceptance of autonomous vehicles, (vii) whether the OEMs continue pursuing their autonomous vehicle programs, and (viii) 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-Q and 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.

(Photo: Torc Robotics)

In the past week, many Americans remained focused on the economy, inflation and how those forces could impact their lives. Trips to the grocery store or gas station are more painful than they were last year, and that is impacting the decisions of both households and businesses.

Here’s a snapshot of prominent economic data and news that occurred over the past week and what it potentially means for you.

America’s employers delivered a surprising 115,000 new jobs last month despite an economic shock from the Iran war.

Hiring was better than the 65,000 forecasters had expected, though it decelerated from the 185,000 jobs created in March. The unemployment rate remained at a low 4.3%, the Labor Department reported Friday.

Healthcare added 37,000 jobs last month and retailers 22,000. However, manufacturers cut 2,000 jobs in April and have shed 66,000 jobs over the past year despite President Donald Trump’s protectionist policies aimed at creating factory jobs.

The average long-term U.S. mortgage rate rose again this week, reflecting ongoing bond market volatility as surging oil prices due to the war with Iran heighten inflation worries.

The benchmark 30-year fixed rate mortgage rate rose to 6.37% from 6.3% last week, mortgage buyer Freddie Mac said Thursday. That’s still down from one year ago, when the rate averaged 6.76%.

This is the second straight weekly increase, bringing the average rate back to where it was four weeks ago.

Weekly U.S. jobless claim applications rose last week but remain at historically low levels despite elevated inflation and other economic headwinds.

The number of Americans filing for unemployment benefits in the week ending May 2 rose by 10,000 to 200,000, the Labor Department reported Thursday. That’s fewer than the 205,000 new applications analysts surveyed by the data firm FactSet were expecting.

The previous week’s new claims figure, which was the fewest since 1969, was revised up by 1,000 to 190,000.

Weekly filings for unemployment benefits are considered a proxy for U.S. layoffs and are close to a real-time indicator of the health of the job market.

U.S. job openings were essentially unchanged in March but hiring improved before the full impact of the Iran war hit the economy.

Employers posted 6.87 million jobs in March, compared to 6.92 million in February, the Labor Department reported Tuesday.

The job market has been up and down so far this year after a dismal 2025. And the Iran war, which began Feb. 28, has clouded the outlook for the economy and hiring.

The Job Openings and Labor Turnover Survey showed that layoffs rose in March. But hiring improved: Employers added 5.55 million gross jobs, the most since February 2024. More Americans also quit their jobs — a sign of confidence in their prospects.

U.S. stocks rose toward new highs to end the week on promising news in the labor market and also more strong earnings for major U.S. corporations.

The S&P 500 climbed 0.5% toward an all-time high after a report said U.S. employers added 115,000 more jobs than they cut last month, even though the war with Iran is raising fuel costs and uncertainty for everyone.

While hiring slowed from March’s level, it was nevertheless nearly double what economists expected. And it kept the S&P 500 on track for a sixth straight winning week, which would be its longest such streak since 2024. The U.S. stock market has blasted higher since late March, in part on hopes that the war will not mean a worst-case scenario for the global economy and that the Strait of Hormuz will reopen to allow oil tankers to deliver crude from the Persian Gulf again.

Trader Edward McCarthy, left, and Michael Milano work on the floor of the New York Stock Exchange, Thursday, May 7, 2026. (AP Photo/Richard Drew)

FILE - The per-gallon price is displayed elecronically over the grades of gasoline available at a Buc-ee's convenience stop Thursday, May 7, 2026, in Johnstown, Colo. (AP Photo/David Zalubowski, file)

FILE - Hiring sign for sales professionals is displayed at a store, in Vernon Hills, Ill., Wednesday, April 15, 2026. (AP Photo/Nam Y. Huh, file)