Aeva Technologies shares surge 14.24% after-hours after securing decade-long exclusive LiDAR deal with top European automaker for global Level 3 vehicle platform.

Aeva Technologies (AEVA) surged 14.24% in after-hours trading following the announcement of a decade-long exclusive LiDAR partnership with a top European automaker. The deal, which standardizes Aeva’s 4D sensors across the automaker’s global Level 3-capable vehicle platforms, underscores growing demand for advanced autonomous driving technology. The automaker plans to transition from 3D time-of-flight LiDAR to Aeva’s velocity-sensing 4D platform, with production slated to begin in 2028. CEO Soroush Salehian emphasized the strategic importance of LiDAR for Level 3 automation, framing the contract as validation of Aeva’s technology and manufacturing readiness. While the stock’s high price-to-book ratio (24.8x) and ongoing losses highlight risks, the exclusive agreement with a major OEM has reignited investor optimism about long-term revenue growth and market adoption.