- Hesai's ATX LiDAR will be used in Leapmotor's production models starting in 2025.
- Hesai is the exclusive LiDAR supplier to Leapmotor and is also a supplier to Li Auto.
Hesai Group (NASDAQ: HSAI), China's largest LiDAR maker, has secured a new order from Leapmotor (HKG: 9863) as it consolidates its market position.
The two companies signed an agreement on April 7 at Leapmotor's headquarters in Hangzhou, Zhejiang province, to deepen their strategic cooperation, according to a press release from Hesai today.
Leapmotor is expected to purchase 200,000 units of Hesai's ATX LiDAR, covering a variety of production models from 2025 onward, according to the release.
As Leapmotor's exclusive LiDAR supplier, Hesai will provide it with advanced perception technology support, the LiDAR maker said.
The ATX, which began deliveries in the first quarter of this year, is built on the proven architecture of Hesai's AT platform and utilizes the company's latest fourth-generation chip architecture, according to the release.
Since its launch, the ATX has received orders for dozens of models from 11 domestic and international automakers for its advantages including small size, long range and ultra-wide angle, the company said.
Hesai and Leapmotor entered into a strategic partnership last March, and the first model equipped with Hesai's LiDAR, the Leapmotor C10, went on sale on March 2, 2024.
The Leapmotor C10 brought LiDAR to the mass consumer market in the RMB 160,000 ($21,80) class.
Early last month, Leapmotor began pre-sales of the B10 SUV (sport utility vehicle) -- the first model in its B-series -- with the official launch set for April.
The B10 received 31,688 pre-orders in the 48 hours after pre-sales began, and the two LiDAR-equipped variants are the most popular, Leapmotor said at the time.
Both variants feature an ATX LiDAR supplied by Hesai, and Leapmotor said at the time that the B10 was the first in the EV industry to feature LiDAR on a product priced as low as RMB 130,000, resulting in more powerful and smart driving capabilities.
The B10's LiDAR-equipped variant has been well-received, and more Leapmotor models will continue this advantage in the future, said the EV maker's founder, chairman and CEO Zhu Jiangming, according to Hesai's press release today.
Notably, Hesai is also a LiDAR supplier to Li Auto (NASDAQ: LI), another local automaker and one of the major extended-range electric vehicle (EREV) makers.
Li Auto will update its current models in May, focusing on smart driving hardware upgrades, including making LiDAR standard across its entire lineup.
Leapmotor's SUV models are available in both battery electric vehicle (BEV) and EREV variants and are priced much lower than Li Auto across the board, allowing them to be seen as affordable versions of Li Auto cars.
The latest partnership with Hesai is expected to further strengthen this perception of Leapmotor among its potential buyers.
Hesai's LiDAR deliveries totaled 501,900 units in 2024, a year-on-year increase of 126 percent, according to its earnings report released last month.
The company guided for LiDAR shipments of 1.2 million to 1.5 million units in 2025, up 139 percent to 200 percent year-on-year.
Of those, ADAS (Advanced Driver Assistance System) LiDAR will account for more than 80 percent, with robotic LiDAR shipments targeted at 200,000 units.
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