MOUNTAIN VIEW, Calif.,
March 2, 2021 /PRNewswire/ -- Aeva,
Inc. ("Aeva" or the "Company"), a leader in next generation 4D
LiDAR sensing and perception systems, announced today that
Tim Willis has joined the Company as
Vice President of Global Supply Chain, Manufacturing and Strategy.
In this new position, Willis will lead Aeva's supply chain and
manufacturing operations, providing strategic oversight on the
Company's production of its industry-leading 4D LiDAR technology
for mass market applications.
"Through his decades-long career as a global supply chain and
manufacturing leader with the world's top technology companies like
Apple and Waymo, and deep expertise in autonomous driving
solutions, Tim has been instrumental in bringing some of the
highest quality innovations to market," said Soroush Salehian, Co-Founder and CEO at Aeva.
"We look forward to Tim's leadership as Aeva enters its next phase
of development, moving towards production of our 4D LiDAR
technology for a broad range of customers across automotive,
consumer and industrial applications."
As a veteran supply chain, engineering and manufacturing
executive with more than 30 years of experience, Willis brings
strong organizational leadership and a wealth of industry expertise
to Aeva. He was most recently the Chief Manufacturing and Global
Supply Officer at Waymo, where he also served as General Manager of
Waymo's LiDAR sensor technology business unit. Prior to
Waymo, Willis spent several years at Apple, last serving as the
Senior Director of Global Supply Chain Management for iPhone,
Watch, iPod and Accessories. He has held progressively senior
management roles across industry leading organizations, including
Lumileds, Motorola and Ford Motor Company.
"I am excited to join Aeva at this crucial stage in its
lifecycle as it rapidly grows its business and operations as a
dynamic leader in perception and sensing technologies," said
Willis. "Aeva's market-first 4D LiDAR on chip solution represents a
major accomplishment in the perception sensing and autonomous
vehicle industry and is a testament to the commitment, innovation
and entrepreneurial spirit of every employee at the Company. I look
forward to working with our teams and our partners to bring this
unique technology to mass market."
Aeva remains on track to complete its previously announced
business combination with InterPrivate Acquisition Corp.
("InterPrivate") (NYSE: IPV), a publicly traded special purpose
acquisition company, in the first quarter of 2021, subject to the
adoption of the business combination agreement by the stockholders
of InterPrivate and Aeva and other closing conditions. A special
meeting of InterPrivate stockholders to approve, among other
things, the proposed business combination will be held in a virtual
format on March 11, 2021 at
11:00 a.m. Eastern Time. InterPrivate
stockholders as of January 25, 2021
should submit their vote by March 10,
2021. For more information regarding how to vote, please
visit www.ipvspac.com/vote.
About Aeva
Founded in 2017 by former Apple engineers
Soroush Salehian and Mina Rezk, and led by a multidisciplinary team
of engineers and operators, Aeva is building the next-generation of
sensing and perception for autonomous vehicles and beyond. Aeva is
backed by Adage Capital, Porsche SE, Lux Capital and Canaan
Partners, among others. For more information, visit
www.aeva.com.
About InterPrivate Acquisition Corp.
InterPrivate is a
blank check company organized for the purpose of effecting a
merger, share exchange, asset acquisition, stock purchase,
recapitalization, reorganization, or other similar business
combination with one or more businesses or entities. InterPrivate
is controlled by affiliates of Ahmed M.
Fattouh, Chairman and Chief Executive Officer, and
InterPrivate LLC, a private investment firm founded by Mr. Fattouh
that invests on behalf of a consortium of family offices in
partnership with independent sponsors from the private equity and
venture capital industries. InterPrivate focused its efforts on
evaluating business combination targets by leveraging
InterPrivate's network of independent sponsors, family offices and
private equity and venture capital firms. InterPrivate is an
emerging growth company as defined in the Jumpstart Our Business
Startups Act of 2012. For more information, visit
www.ipvspac.com.
Forward-Looking Statements
This press release contains
certain forward-looking statements within the meaning of the
federal securities laws with respect to the proposed transaction
between Aeva and InterPrivate, including statements regarding the
benefits of the transaction, the anticipated timing of the
transaction, the services offered by Aeva and the markets in which
it operates, and Aeva's projected future results. These
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. 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 risk that the transaction may not be
completed in a timely manner or at all, which may adversely affect
the price of InterPrivate's securities, (ii) the risk that the
transaction may not be completed by InterPrivate's business
combination deadline and the potential failure to obtain an
extension of the business combination deadline if sought by
InterPrivate, (iii) the failure to satisfy the conditions to the
consummation of the transaction, including the adoption of the
business combination agreement by the stockholders of InterPrivate
and Aeva, the satisfaction of the minimum trust account amount
following redemptions by InterPrivate's public stockholders and the
receipt of certain governmental and regulatory approvals, (iv) the
lack of a third party valuation in determining whether or not to
pursue the proposed transaction, (v) the occurrence of any event,
change or other circumstance that could give rise to the
termination of the business combination agreement, (vi) the effect
of the announcement or pendency of the transaction on Aeva's
business relationships, performance and business generally, (vii)
risks that the proposed transaction disrupts current plans of Aeva
and potential difficulties in Aeva employee retention as a result
of the proposed transaction, (viii) the outcome of legal
proceedings instituted against Aeva or against InterPrivate related
to the business combination agreement or the proposed transaction,
(ix) the ability to maintain the listing of InterPrivate's
securities on the New York Stock Exchange, (x) the price of
InterPrivate's securities may be volatile due to a variety of
factors, including changes in the competitive and highly regulated
industries in which Aeva plans to operate, variations in
performance across competitors, changes in laws and regulations
affecting Aeva's business and changes in the combined capital
structure, (xi) the ability to implement business plans, forecasts
and other expectations after the completion of the proposed
transaction, and identify and realize additional opportunities,
(xii) the risk of downturns and the possibility of rapid change in
the highly competitive industry in which Aeva operates, (xiii) the
risk that Aeva and its current and future collaborators are unable
to successfully develop and commercialize Aeva's products or
services, or experience significant delays in doing so, (xiv) the
risk that Aeva may never achieve or sustain profitability, (xv) the
risk that Aeva will need to raise additional capital to execute its
business plan, which many not be available on acceptable terms or
at all, (xvi) the risk that the post-combination company
experiences difficulties in managing its growth and expanding
operations, (xvii) the risk that third-parties suppliers and
manufacturers are not able to fully and timely meet their
obligations, (xviii) the risk of product liability or regulatory
lawsuits or proceedings relating to Aeva's products and services,
(xix) the risk that Aeva is unable to secure or protect its
intellectual property and (xx) the risk that the post-combination
company's securities will not be approved for listing on the New
York Stock Exchange or if approved, maintain the listing. The
foregoing list of factors is not exhaustive. You should carefully
consider the foregoing factors and the other risks and
uncertainties described in the "Risk Factors" section of
InterPrivate's Annual Report on Form 10-K, Quarterly Reports on
Form 10-Q, the registration statement on Form S-4 and proxy
statement/consent solicitation statement/prospectus discussed below
and other documents filed by InterPrivate from time to time
with the U.S. Securities and Exchange Commission (the "SEC"). 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 and InterPrivate assume no obligation and do
not intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise. Neither Aeva nor InterPrivate gives any assurance that
either Aeva or InterPrivate will achieve its expectations.
Additional Information and Where to Find It
This press
release relates to a proposed transaction between Aeva and
InterPrivate. This press release does not constitute an offer to
sell or exchange, or the solicitation of an offer to buy or
exchange, any securities, nor shall there be any sale of securities
in any jurisdiction in which such offer, sale or exchange would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. InterPrivate filed a
registration statement on Form S-4 with the SEC on December 3, 2020 and subsequent amendments on
Form S-4/A (the "Registration Statement"), which included a proxy
statement of InterPrivate, a consent solicitation statement of Aeva
and a prospectus of InterPrivate. The Registration Statement was
declared effective by the SEC on February
12, 2021. On February 16,
2021, InterPrivate filed the definitive proxy
statement/consent solicitation statement/prospectus with the SEC.
The proxy statement/consent solicitation statement/prospectus will
be sent to all InterPrivate and Aeva stockholders. InterPrivate
also will file other documents regarding the proposed transaction
with the SEC. Before making any voting decision, investors and
security holders of InterPrivate and Aeva are urged to read the
registration statement, the proxy statement/consent solicitation
statement/prospectus and all other relevant documents filed or that
will be filed with the SEC in connection with the proposed
transaction as they become available because they will contain
important information about the proposed transaction.
Investors and security holders may obtain free copies of the
proxy statement/consent solicitation statement/prospectus and all
other relevant documents filed or that will be filed with the SEC
by InterPrivate through the website maintained by the SEC at
www.sec.gov. In addition, the documents filed by InterPrivate may
be obtained free of charge from InterPrivate's website at
https://ipvspac.com/ or by written request to InterPrivate at
InterPrivate Acquisition Corp., 1350 Avenue of the Americas,
New York, NY 10019.
Participants in the Solicitation
InterPrivate and
Aeva and their respective directors and officers may be deemed
to be participants in the solicitation of proxies from
InterPrivate's stockholders in connection with the proposed
transaction. Additional information regarding the interests of
those persons and other persons who may be deemed participants in
the proposed transaction may be obtained by reading the proxy
statement/consent solicitation statement/prospectus regarding the
proposed transaction. You may obtain free copies of these documents
as described in the preceding paragraph.
Press Contacts
Investors:
Andrew Fung
investors@aeva.ai
Media:
Michelle Chang
press@aeva.ai
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SOURCE Aeva, Inc.