Attached as Exhibit 99.1 to this Current
Report on Form 8-K and incorporated herein by reference is a press release issued on February 16, 2021 by InterPrivate
Acquisition Corp., a Delaware corporation (“InterPrivate”) announcing that it has filed with the Securities and
Exchange Commission (the “SEC”) a definitive proxy statement/prospectus/consent solicitation statement under Rule
424 after the SEC declared effective InterPrivate’s registration statement on Form S-4 (File No. 333-251106) (as
amended, the “Registration Statement”) relating to the Proposed Transactions (defined below). Additionally, the
press release announces that InterPrivate has commenced mailing of the definitive proxy statement/prospectus/consent
solicitation statement relating to the special meeting in lieu of the 2021 annual meeting of InterPrivate’s
stockholders, which will be held at 11:00 a.m. Eastern time on March 11, 2021. The proxy statement/prospectus/consent
solicitation statement is being mailed to InterPrivate’s stockholders of record as of the close of business on January
25, 2021.
Additional Information and Where to Find
It
This Current Report on Form 8-K relates to the
previously announced Business Combination Agreement (the “BCA”), dated as of November 2, 2020, among Aeva, Inc., a
Delaware corporation (“Aeva”), InterPrivate and WLLY Merger Sub Corp., a Delaware corporation (“Merger Sub”)
and wholly-owned direct subsidiary of InterPrivate (the “Merger” and, together with the other transactions related
thereto, the “Proposed Transaction”). In connection with the Proposed Transaction, InterPrivate filed the Registration
Statement with the SEC, which included a proxy statement and a prospectus of InterPrivate, and a consent solicitation statement
of Aeva. The Registration Statement is now effective and the definitive proxy statement/prospectus/consent solicitation statement
is being 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 definitive proxy statement/prospectus/consent solicitation statement 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/prospectus/consent solicitation statement 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/sec-filings/ or by written
request to InterPrivate at InterPrivate Acquisition Corp., 1350 Avenue of the Americas, New York, NY 10019.
Participants in Solicitation
InterPrivate and Aeva and their respective directors
and executive officers may be deemed to be participants in the solicitation of proxies from InterPrivate’s stockholders in
connection with the Proposed Transaction. 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/prospectus/consent solicitation statement
regarding the Proposed Transaction. You may obtain a free copy of these documents as described in the preceding paragraph.
Forward-Looking Statements
This Current Report on Form 8-K contains certain
forward-looking statements within the meaning of the federal securities laws with respect to the Proposed Transaction between Aeva
and InterPrivate. 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 document, 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 BCA 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 BCA, (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 InterPrivate related
to the BCA 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, and (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 and proxy statement/prospectus/consent solicitation
statement discussed above and other documents filed by InterPrivate from time to time with 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.
No Offer or Solicitation
This Current Report on Form 8-K is not a
proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the
Proposed Transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of
InterPrivate, Aeva or Merger Sub, nor shall there be any sale of any such securities in any state or jurisdiction in which
such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such
state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of
Section 10 of the Securities Act of 1933, as amended, or exemptions therefrom.