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Hesai Group (NASDAQ: HSAI) is a global leader specializing in the development, manufacturing, and sales of three-dimensional light detection and ranging (LiDAR) solutions. The company’s advanced LiDAR products are pivotal in enabling a variety of applications in passenger and commercial vehicles equipped with Advanced Driver Assistance Systems (ADAS), autonomous vehicle fleets, and robotics applications such as last-mile delivery robots, street sweeping robots, and logistics robots in restricted areas.
Hesai operates primarily through two segments: the LiDAR segment and the gas detection segment, with the former generating the majority of the company's revenue. The company’s geographical presence spans North America, Mainland China, Europe, and other regions, enabling it to cater to a diverse and expansive market.
Recent developments highlight Hesai's commitment to innovation and strategic partnerships. On March 18, 2024, Hesai announced its strategic partnership with Leapmotor to enhance intelligent driving experiences by incorporating Hesai's next-generation high-performance automotive LiDAR products. This collaboration is expected to bolster safety technology and expand market reach significantly.
On April 2, 2024, Xiaomi launched its first mass-produced electric vehicle, the Xiaomi SU7, integrating Hesai’s AT128 long-range LiDAR. This underscores Hesai's growing influence in intelligent driving solutions and its capability to support high-performance automotive applications.
Further expanding its product offerings, Hesai introduced the ATX, a new ultra-wide field of view, long-range LiDAR, on April 22, 2024. This product promises improved 3D perception for intelligent vehicles, with enhanced detection range, higher resolution, and a compact design that fits various vehicle positions.
Hesai’s collaboration with Marelli, announced on April 24, 2024, aims to integrate the ATX LiDAR into Marelli’s headlamp design, offering advanced object detection and safety without compromising vehicle aesthetics or aerodynamics. This partnership exemplifies Hesai’s innovative approach and its commitment to enhancing vehicle safety through cutting-edge technology.
Despite the recent resignation of CFO Louis T. Hsieh on May 13, 2024, the company continues to demonstrate strong leadership and robust financial management under the interim oversight of Norman Fan.
Hesai remains dedicated to advancing intelligent driving technology and expanding its global footprint. With a focus on high performance, quality, and affordability, the company is well-positioned to lead the LiDAR industry and contribute to safer, more efficient automotive and robotics solutions.
Hesai Technology (HSAI) has secured design wins for multiple Chery Automobile models, with mass production scheduled to begin in H2 2025. The vehicles will feature Hesai's latest generation ATX lidar, an ultra-compact high-performance system.
Chery, which reported a 38% year-over-year increase in global car sales with 2.6 million vehicles sold in 2024, forecasts over 3 million deliveries in 2025. As China's leading vehicle exporter, Chery's exports reached 1.14 million vehicles in 2024, up 21.4% year-on-year.
Hesai has accumulated over 100 design wins across 21 automotive OEMs. The company's ATX lidar, launched in April 2024, has been selected by numerous automakers, including top new energy vehicle companies and European and American OEM joint ventures in China. Hesai's planned annual production capacity for 2025 is expected to exceed 2 million units.
Hesai Technology (HSAI) unveiled two groundbreaking lidar products at CES 2025: the AT1440 and FTX. The AT1440 is the world's first 1440-channel automotive-grade lidar, featuring 30 times higher resolution than mainstream automotive lidars with a 0.02° angular resolution. The next-generation FTX solid-state lidar boasts the industry's widest field of view at 180° x 140° and achieves a point rate 2.5 times higher than its predecessor.
The FTX is 66% lighter than its previous generation, with a 40% smaller exposed window area. Hesai has secured over 100 design wins across 21 automotive OEMs, including 6 of the top 10 global manufacturers. The company achieved a milestone in December by delivering over 100,000 lidar units and projects an annual production capacity exceeding 2 million units in 2025. Hesai operates in over 40 countries and holds more than 1,700 patents globally.
Hesai Technology (HSAI) has launched its new JT Series of mini hemispherical 3D lidars at CES 2025, specifically designed for robotics applications. The series includes the JT16 (16 channels) and JT128 (128 channels), with the latter featuring the world's widest hyper-hemispherical field of view at 360° x 187°.
The JT series boasts significant improvements over comparable products, including a 30% smaller diameter, 70% reduced volume, and 47% lighter weight at 200-250g. Power consumption is reduced by 40% to as low as 4W. The series supports resolution up to 256 channels and features zero minimum detection distance.
The company has already begun mass production and deliveries, securing orders from various robotics customers including MOVA and Agtonomy. Hesai also announced its next-generation solid-state FTX lidar for ADAS-equipped vehicles, achieving a point rate of 492,000 points per second, 2.5 times higher than its previous generation.
Hesai Technology (HSAI) has achieved a significant milestone as the first lidar company globally to deliver over 100,000 lidar units in December 2024, along with a record 20,000 units for the robotics market. The company plans to expand its annual capacity to exceed 2 million units in 2025.
Hesai has secured more than 100 design wins across 21 automotive OEMs, including recent wins from three of China's top five automakers. In the robotics sector, Hesai serves customers across 40+ countries in various applications including delivery robots, autonomous lawn mowers, and cleaning robots. The company maintains operations in Europe, US, and Asia, with over 1,700 patents in its portfolio.
Hesai Technology (NASDAQ: HSAI) has secured an exclusive production design win with Great Wall Motor for multiple vehicle models across two brands. The deal involves Hesai's ATX ultra-compact high-resolution long-range lidar, with mass production starting in 2025.
Great Wall Motor sold over 1.23 million vehicles in 2023, including 262,000 EVs. Their EV sales reached 195,000 in the first three quarters of 2024, showing a 57.2% year-over-year growth. The partnership, established in February 2024, has already resulted in the WEY Blue Mountain SUV equipped with Hesai's AT128 lidar entering mass production.
The ATX model features Hesai's proprietary technology that improves point cloud resolution while reducing volume, weight, and power consumption. Multiple automotive companies have selected ATX for their 2025 mass-production models.
Hesai (NASDAQ: HSAI) has secured an exclusive agreement with Changan Automobile to supply over 1.5 million ATX compact lidar units for their new intelligent driving platform. The partnership will cover more than 10 vehicle models across multiple Changan brands, with initial mass production scheduled for the second half of 2025.
This agreement builds upon their existing strategic partnership from 2022, which recently saw success with the Changan Nevo E07 launch in October 2023, featuring two Hesai AT128 lidars. The ATX model, introduced in April 2023, utilizes Hesai's proprietary technology to deliver enhanced point cloud resolution while reducing size, weight, and power consumption. Multiple automotive companies have already selected ATX for their 2025 mass-production models.
Hesai (Nasdaq: HSAI), the global leader in lidar technology, will showcase at CES 2025 in Las Vegas (January 7-10) and launch a new mini 3D lidar device. The company, which has delivered over 600,000 units globally as of Q3 2024, will unveil this compact lidar solution during a press conference on January 7.
The new device, no larger than a billiard ball, combines high resolution with low power consumption and is designed for AGVs, AMRs, delivery robots, autonomous lawnmowers, and agricultural machinery. Celebrating its 10th anniversary, Hesai serves customers in over 40 countries, holds more than 1,700 patents, and maintains operations across Europe, the US, and Asia.
Hesai Group (NASDAQ: HSAI) reported Q3 2024 financial results with net revenues of RMB539.4 million (US$76.9 million), up 21.1% year-over-year. Total lidar shipments reached 134,208 units, a 182.9% increase from Q3 2023. ADAS lidar shipments grew 220% to 129,913 units. The company achieved a gross margin of 47.7%, up from 30.6% in Q3 2023. For Q4 2024, Hesai expects net revenues to approach US$100 million and projects 200,000 unit shipments. The company anticipates achieving full-year profitability on a non-GAAP basis for 2024, positioning it as the first automotive lidar company worldwide to reach this milestone.
Hesai Group (NASDAQ: HSAI), a global leader in 3D lidar solutions, announced it will release its Q3 2024 unaudited financial results on Monday, November 25, 2024, after U.S. markets close. The company will host an earnings conference call at 8:00 PM ET on November 25, 2024 (9:00 AM Beijing/Hong Kong Time on November 26, 2024). A live and archived webcast will be available on the company's investor relations website, with a replay accessible until December 3, 2024.
Hesai Technology (NASDAQ: HSAI), a global leader in lidar solutions, has been announced as the exclusive provider of automotive long-range lidar for Leapmotor's next-generation vehicle platform. The first model on this platform is expected to enter mass production in 2025. This exclusive partnership builds upon their existing collaboration in intelligent driving, with Hesai already supplying its AT128 lidar for Leapmotor's C-series intelligent driving edition models.
Leapmotor has begun sales in Europe, with over 200 dealers across 13 countries, and plans to expand to 500 sales points in Europe by the end of 2025. The partnership aims to accelerate Leapmotor's leadership in Advanced Driver-Assistance Systems (ADAS) and its global application.
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