Baidu Selects Hesai as Exclusive Long-Range Lidar Provider for Next-Generation Robotaxis
Hesai Technology (Nasdaq: HSAI), a global leader in lidar safety technology, has been chosen by Baidu (NASDAQ: BIDU) as the exclusive long-range lidar supplier for its next-generation robotaxi platform Yichi 06. This deal, estimated at $200-300 million, is based on Baidu's plans to deploy 100,000 robotaxi vehicles in China. The Chinese robotaxi market is projected to reach $162.6 billion in 2025 and $403.6 billion in 2030.
Hesai dominated the global robotaxi lidar market in 2023 with a 74% share of the $124 million market. The company's total lidar shipment volume has exceeded 380,000 units as of Q1 2024. Hesai's success is attributed to its high-performance lidar technology, which is used by nine of the top ten L4 autonomous driving companies globally.
- Exclusive long-range lidar supplier for Baidu's next-gen robotaxis
- Estimated deal value of $200-300 million
- 74% market share in global robotaxi lidar market
- Total lidar shipment volume exceeds 380,000 units
- Used by 9 out of 10 top L4 autonomous driving companies globally
- None.
The exclusive lidar supply agreement between Hesai Technology and Baidu for its next-generation robotaxi platform is a significant milestone for both companies. From a financial perspective, this deal is estimated to be worth between
Additionally, the reduction in costs for Baidu's sixth-generation Apollo Go vehicles, now costing around
Hesai Technology's selection as the exclusive lidar provider for Baidu's new robotaxi platform is a testament to the company's leadership in lidar technology. Lidar, which stands for Light Detection and Ranging, uses laser pulses to create detailed 3D maps of the environment. This technology is important for autonomous vehicles as it enhances their capability to perceive surroundings accurately, ensuring safety and reliability. Hesai's lidar, already used in Baidu's fifth-generation Apollo Go robotaxis, will continue to play a pivotal role in enabling these vehicles to navigate complex urban environments.
A key development here is the reduction in vehicle costs for Baidu's sixth-generation robotaxis, down by
The partnership between Hesai Technology and Baidu is set against the backdrop of a rapidly growing autonomous driving market in China. According to Pacific Securities, the Chinese robotaxi market is expected to be valued at
For retail investors, this deal signifies Hesai's strategic positioning in a lucrative market. Baidu's commitment to deploying 100,000 robotaxis equipped with Hesai's lidar underscores the high demand for reliable sensor technology in autonomous vehicles. Investors should keep an eye on the broader market trends, such as regulatory developments and consumer adoption rates, which could influence the success of Hesai and its peers. The adoption of lidar technology by nine out of the top ten L4 autonomous driving companies globally also highlights the critical role Hesai plays in the industry, reinforcing its market leadership and growth potential.
According to industry analysts, this lidar deal is worth an estimated
According to forecasts by Pacific Securities, the Chinese robotaxi market is expected to exceed
Baidu's Apollo Go 5th generation robotaxis, which are currently in operation in
According to Yole's "Lidar for Automotive 2024" report, Hesai dominated the global robotaxi lidar market in 2023, comprising an impressive
"The autonomous driving industry has rapidly evolved in recent years and today's surge of autonomous driving in
Hesai has already established a strong global business presence in the US,
About Hesai
Hesai is the global leader in three-dimensional light detection and ranging (lidar) solutions. The Company's lidar products enable a broad spectrum of applications across passenger and commercial vehicles with advanced driver assistance systems (ADAS) and autonomous vehicle fleets (autonomous mobility). Hesai's technology also empowers robotics applications such as last-mile delivery robots and logistics robots in restricted areas. The Company's commercially validated solutions are backed by superior research and development capabilities across optics, mechanics, electronics, and software. Hesai integrates lidar designs with an in-house manufacturing process, facilitating rapid product development while ensuring high performance, consistent quality and affordability. Hesai has established strong relationships with leading automotive OEMs, autonomous vehicle, and robotics companies worldwide, covering over 40 countries.
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SOURCE Hesai Technology
FAQ
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