08:32 AM EDT, 05/14/2025 (MT Newswires) -- Aeva Technologies ( AEVA ) said Wednesday it has entered into a strategic collaboration with an affiliate of a Fortune 500 company to bring its 4D light detection and ranging technology into new industrial and consumer markets.

The company will invest up to around $50 million to bring production capacity online for Aeva's ( AEVA ) next-generation perception sensing products, as well as take an approximately 6% equity stake in the company, Aeva ( AEVA ) said.

Aeva ( AEVA ) shares were nearly 5% higher in premarket trading.