Aeva to supply sensors to Daimler Truck in $1 billion deal

A view shows an Aeva Technologies lidar sensor that helps self-driving vehicles gain a detailed view of the road, in Mountain View, California, U.S., in this undated handout photo provided on January 9, 2024. Courtesy Of Aeva Technologies/Handout via REUTERS

SAN FRANCISCO (Reuters) - Aeva Technologies on Tuesday said that it has reached a $1 billion deal with Germany's Daimler Truck to supply sensors for self-driving trucks that are expected to hit U.S. roads in 2027.

Aeva, a Silicon Valley-based firm founded by Apple veterans, makes what is known as a lidar sensor that helps vehicles gain a detailed view of the road. Aeva's sensor can detect how fast distant objects are moving, which is useful for avoiding other vehicles and pedestrians.