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Hesai Secures New Lidar Design Win with a Top 5 Chinese NEV Automaker, Entering Mass Production Phase this Year

1. Hesai Technology secured a design win with a major NEV automaker. 2. Mass production of smart EVs with Hesai's lidar will commence soon. 3. Lidar market growth projected to exceed 1.5 million units in 2024. 4. ATX lidar enhances intelligent driving systems for high-end vehicles. 5. Hesai plans 2 million units annual capacity for growing demand.

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FAQ

Why Bullish?

The recent design win indicates strong demand, similar to past successful contracts leading to price increases.

How important is it?

The design win is crucial for HSAI's future contracts and revenue potential, affecting market position.

Why Long Term?

The expanding lidar market and mass production schedule suggest sustained revenue growth over time.

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TSLANIOLIXPEV
, /PRNewswire/ -- Hesai Technology, a global leader in lidar R&D and manufacturing, has secured a new design win with a top 5 NEV automaker in China. This automaker, part of a major global automotive group, will soon commence mass production of its high-end smart EV models equipped with Hesai's ATX lidar as standard. The ATX's advanced features will significantly enhance the vehicles' intelligent driving systems. The lidar market is experiencing rapid growth, with automotive lidar installations surpassing 1.5 million units in 2024, doubling the previous year's figure. Gasgoo Automotive Research Institute's data reveals a 29% penetration rate of lidar in China's EV market priced above $20,000 as of December 2024, highlighting its role as a crucial safety feature. Hesai's ATX, powered by its cutting-edge fourth-generation technology platform, features a redesigned opto-mechanical structure and upgraded laser transceiver modules. This achieves a compact form factor without compromising performance. With mass production underway and an annual capacity of 2 million units planned, Hesai is well-prepared to meet the growing demand from automakers in 2025. SOURCE Hesai Technology WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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