Autonomous car mania is growing. Tesla (NASDAQ: TSLA) had an epic 2020 with a nearly 700% share price increase, a slew of other electric vehicle automakers went public via SPAC in 2020, and fresh news surfaced that Apple (NASDAQ: AAPL) is working on a long-rumored car project.
Just in time to cash in on the auto tech fever is lidar (light detection and ranging) technologist Aeva, which will be merging with special purpose acquisition company (SPAC) InterPrivate Acquisition (NYSE: IPV) by the end of the first quarter of 2021. Thanks to an additional $200 million investment announcement from tech investor Sylebra Capital, Aeva expects to raise $560 million in cash from its IPO.
I recently spoke with Aeva co-founder and CEO Soroush Salehian to discuss why his lidar start-up is worth getting excited about.