Aurora Innovation (AUR) Evercore's 9th Annual ADAS, AV & AI Forum summary

Business milestones and commercial inflection

• Achieved fully driverless operations on public roads, marking a commercial inflection point for autonomous trucking.

• Launched Aurora Driver 2, featuring second-generation hardware and Verifiable AI, enabling commercial scaling.

• Third-generation hardware is in road testing, with full production planned by late 2027 to support tens of thousands of trucks.

• Fully allocated for 2026 deliveries, with significant demand and growth potential into 2027 and beyond.

• Projecting over 1,000 trucks by end of 2027 and 30,000 by 2030, with all enablers in place for transformational growth.

Partnerships and supply chain strategy

• Emphasizes a partnership approach with leading OEMs, logistics, and hardware partners to leverage strengths.

• Upfitting with partners like Roush enabled early deployment and customer engagement before OEM line-side production.

• Hardware as a Service agreement with AUMOVIO aligns costs and revenue, supporting capital-light scaling.

• OEMs are increasingly committed, with Volvo and others planning production-level AV installations by 2030.

• Third-gen hardware production and PPAP completion by end of 2027 are key for OEM confidence and scaling.

Customer value and operational impact

• Driverless trucks deliver up to 2x utilization compared to human-driven fleets, with some customers seeing 3x.

• Achieves 20% reduction in total cost of ownership through lower driver, fuel, and insurance costs.

• Customers benefit from higher efficiency, reliability, and seamless integration with minimal upfront investment.

• Early adopters are smaller fleets, while larger fleets await higher volumes to justify broader deployment.

• Network optimization and 24/7 operations enable carriers to maximize efficiency and competitive advantage.