- This marks Hesai's second LiDAR order announcement from a US company this month.
- Hesai will serve as the company's sole LiDAR supplier, providing both long-range and short-range LiDAR products.
China's largest LiDAR manufacturer Hesai Group (NASDAQ: HSAI) announced a new order from a US company, its second such announcement this month.
Hesai has deepened its collaboration with a leading US robotaxi company by securing a LiDAR order valued at over $40 million, the company announced today, without naming the US firm.
Hesai will serve as the sole LiDAR supplier for both long-range and short-range LiDAR products, with delivery scheduled for completion by the end of 2026, the company said.
This partnership underscores Hesai's position as a reliable collaborator in enabling the large-scale deployment of next-generation autonomous vehicle fleets, it said.
Just 11 days ago, on September 4, Hesai announced another exclusive LiDAR order from Motional, the US autonomous driving company backed by Hyundai Motor.
Hesai has served as the exclusive short-range LiDAR supplier for Motional's all-electric Ioniq 5 robotaxis for two consecutive years, with each vehicle equipped with four Hesai LiDARs, according to the company.
Founded in 2014, Hesai is a 3D LiDAR solutions provider specializing in the design, development, manufacturing, and sales of advanced LiDAR products. It was listed on the Nasdaq on February 9, 2023.
The company's major clients include Li Auto (NASDAQ: LI), Zeekr (NYSE: ZK), Leapmotor (HKG: 9863), and Xiaomi (HKG: 1810, OTCMKTS: XIACY).
It achieved non-GAAP net income of about RMB 13.7 million ($1.92 million) and operating cash flow of RMB 63 million in 2024, becoming the world's first publicly listed LiDAR maker to report annual profitability and positive operating cash flow, according to its financial results released on March 10.
The company delivered 501,900 LiDARs in 2024, representing a 126 percent year-on-year increase.
Hesai projects 2025 LiDAR shipments between 1.2 million and 1.5 million units, representing 139 percent to 200 percent year-on-year growth.
($1 = RMB 7.1231)
