Hesai Strengthens Patent Portfolio with Swiss IP Acquisition, Advancing Next-Gen Solid-State Lidar FTX to Drive Robotics Revolution

Rhea-AI Summary

Hesai Technology (NASDAQ: HSAI) has strengthened its position as a global leader in lidar technology through significant patent portfolio expansion and Swiss IP acquisition. The company now holds nearly 1,800 patents and patent applications worldwide, with over 1,500 published patent applications and 600+ granted global patents.

In late 2023, Hesai acquired Fastree3D, a Swiss SPAD technology pioneer, enhancing its digital lidar capabilities. The company's next-generation solid-state FTX lidar features industry-leading specifications including 180° x 140° field of view, 30m range, and 492,000 points per second - 2.5 times higher than previous generation. The new design is 66% lighter with a 40% smaller exposed window area.

Hesai delivered over 20,000 lidar units to robotics customers in December 2024 and projects shipping over 1 million units in 2025, supported by in-house mass production capabilities.

Positive

• Largest global lidar patent portfolio with 1,800+ patents/applications
• Strategic acquisition of Fastree3D's SPAD technology patents
• Next-gen FTX lidar achieves 2.5x higher performance than previous generation
• Strong delivery momentum with 20,000+ units in December 2024
• Projected 1 million unit shipments in 2025

Negative

• None.

Insights

Technology Analyst

Hesai's acquisition of Fastree3D's Swiss digital lidar patents represents a strategic strengthening of its technological moat in the highly competitive lidar market. With nearly 1,800 patents globally and the largest published patent application portfolio in the industry, Hesai is positioning itself as the intellectual property leader at a critical inflection point for lidar adoption.

The SPAD (Single Photon Avalanche Diode) technology acquired from Fastree3D is particularly significant as it enables digital signal processing at the photon level, representing a fundamental shift from traditional analog lidar approaches. This technology potentially offers superior performance in challenging environmental conditions while enabling more compact, energy-efficient designs - critical factors for mass adoption in automotive and robotics applications.

The specifications of Hesai's upcoming FTX solid-state lidar are technically impressive, with its 180° x 140° field of view addressing a key limitation of many current solid-state systems. The 66% weight reduction and 40% smaller exposed window directly address integration challenges that have historically lidar adoption in consumer-facing products.

The company's December delivery of 20,000 lidar units to robotics customers demonstrates significant traction in non-automotive markets, providing diversification beyond the longer-adoption-cycle autonomous vehicle sector. Their projection of shipping over 1 million units in 2025 would represent exponential growth and suggests potential manufacturing economies of scale that could substantially improve margins.

This patent-strengthening move comes as the robotics market enters a high-growth phase, with applications ranging from warehouse automation to consumer robots requiring cost-effective 3D perception. Hesai appears strategically positioned to capitalize on this trend with its expanded product portfolio targeting diverse robotic applications beyond automotive.

Financial Analyst

Hesai's strategic acquisition of Fastree3D's SPAD technology patents significantly enhances its intellectual property moat in the competitive lidar market, potentially creating sustainable competitive advantages through proprietary technology. This move appears well-timed as the lidar industry transitions from R&D-focused to commercialization and scale.

The company's projected shipment of over 1 million lidar units in 2025 represents a potential inflection point for revenue growth. At conservative average selling prices of $300-500 per unit (reflecting volume discounts), this could translate to $300-500 million in annual revenue from this segment alone. This production scale should drive meaningful manufacturing efficiencies and margin expansion through fixed cost absorption.

Hesai's December delivery of 20,000 lidar units to robotics customers demonstrates diversification beyond the automotive sector, reducing dependence on the longer-cycle autonomous vehicle market. This multi-vertical strategy creates more predictable revenue streams and potentially higher blended margins, as robotics applications often command premium pricing for specialized capabilities.

The fourth-generation technology platform integrating the acquired SPAD patents could strengthen Hesai's gross margin profile through several mechanisms: proprietary technology typically commands premium pricing, vertical integration of core IP reduces licensing costs, and the 66% weight reduction in the FTX product likely translates to materials cost savings.

With a market capitalization of approximately $2.2 billion, Hesai trades at a forward revenue multiple that could contract significantly if the company executes on its 2025 volume projections. The company's investment in manufacturing capacity to support 1 million+ annual units demonstrates management's confidence in sustained demand growth across multiple end markets.

STUTTGART, Germany, Feb. 27, 2025 /PRNewswire/ -- Hesai Technology (NASDAQ: HSAI), the global leader in lidar technology for automotive mobility and robotics applications, announced today that it holds the largest number of published patent applications for lidar globally, and its IP portfolio has further expanded with the acquisition of Swiss digital lidar patents.

Patent volume is an important indicator to measure a high-tech company's innovation capabilities. As of December 2024, Hesai has accumulated nearly 1,800 patents and patent applications worldwide. According to the global patent database Patsnap, the total number of Hesai's published patent applications for the lidar industry exceeds 1,500, and the number of granted global patents exceeds 600, covering multiple countries and regions worldwide. Through a comprehensive patent application strategy, Hesai has secured its long-term position as an innovation powerhouse in the global lidar market.

As a core component of digital lidar, SPAD (Single Photon Avalanche Diode) plays a crucial role in advancing the lidar industry. Hesai recognized the potential of SPAD technology early on, beginning its research in this field as far back as 2016—making it one of the first lidar companies to do so. In late 2023, Hesai acquired Fastree3D, a Swiss pioneer in SPAD technology with deep roots in EPFL (École Polytechnique Fédérale de Lausanne), one of Switzerland's top universities. With over 20 years of academic research in CMOS image sensors and single-photon detectors, Fastree3D was the first company in the world to develop SPAD digital lidar technology and held numerous SPAD-related patents. These patents serve as the foundation for digital lidar innovation, encompassing critical advancements in digital signal processing and high-resolution point cloud generation.

With this strategic acquisition, Hesai has deeply embedded its SPAD core patented technology into its proprietary fourth-generation platform, which will enter production in 2025. The new platform will create a new generation of high-quality, high-performance, and affordable lidar products, accelerating the lidar industry's large-scale development.

Hesai's next-generation solid-state FTX, built on the company's fourth-generation technology platform, features an industry-leading field of view (FOV) of 180° x 140° — the widest among automotive-grade solid-state lidars. FTX's range can reach 30 m @10% reflectivity with outstanding resolution, achieving a point rate of 492,000 points per second, 2.5 times higher than its previous generation. The FTX has a compact design while maintaining its powerful performance, weighing 66% less than before. Its embedded installation further enhances its sleek form factor, reducing the exposed window area by 40% to just 50 x 30 mm.

Hesai's fully solid-state FTX lidar, as well as mini JT128 and JT16 domed lidars, can be easily integrated in various intelligent robots, including humanoid robots, AGVs/AMRs, delivery robots, robotic lawn mowers, cleaning robots, agricultural vehicles and more. With an ultra-wide field of view and real-time 3D perception, Hesai's lidars provide a cost-effective alternative to the multiple 2D lidars or cameras commonly used in robotic applications.

During the month of December 2024, Hesai delivered over 20,000 lidar units to robotics customers. Hesai expects to ship over 1 million lidar units in 2025, which is supported by the company's in-house mass production capabilities and innovation in research and development.

View original content:https://www.prnewswire.com/news-releases/hesai-strengthens-patent-portfolio-with-swiss-ip-acquisition-advancing-next-gen-solid-state-lidar-ftx-to-drive-robotics-revolution-302387293.html

SOURCE Hesai Technology

FAQ

What are the key specifications of Hesai's new FTX solid-state lidar?

The FTX features 180° x 140° FOV, 30m range at 10% reflectivity, 492,000 points per second scanning rate, and is 66% lighter with a 40% smaller exposed window area of 50x30mm.

How many lidar patents does HSAI currently hold globally?

Hesai has accumulated nearly 1,800 patents and patent applications worldwide, with over 1,500 published patent applications and more than 600 granted global patents.

What is HSAI's projected lidar shipment target for 2025?

Hesai expects to ship over 1 million lidar units in 2025, supported by their in-house mass production capabilities.

When did HSAI acquire Fastree3D and why is it significant?

Hesai acquired Fastree3D in late 2023, gaining valuable SPAD technology patents important for digital lidar development and innovation.

How many lidar units did HSAI deliver to robotics customers in December 2024?

Hesai delivered over 20,000 lidar units to robotics customers during December 2024.