- Hesai's lawsuit comes as Seyond prepares for its Hong Kong listing.
- Hesai is one of China's largest LiDAR makers, holding a 32.8 percent market share from January to August.
Seyond Holdings, the LiDAR supplier for Nio Inc (NYSE: NIO), is facing a lawsuit from a larger competitor that could cast a shadow over its Hong Kong listing.
On October 28, Hesai Group (NASDAQ: HSAI) formally sued Seyond for patent infringement, and the case has been filed with the Ningbo Intermediate People's Court in Zhejiang province, local media outlet Yicai reported today, citing a source.
The lawsuit centers on Seyond's Robin E1X model showcased at CES 2025 earlier this year and Hesai's AT series products, the source said.
Seyond's flagship product, the Falcon LiDAR, is already deployed across all models of the Nio main brand.
The Falcon series long-range LiDAR employs a hybrid solid-state 2D scanning solution with a wavelength of 1,550 nm, achieving a maximum detection range of 500 meters.
The Robin E1X features a smaller form factor but offers reduced performance, with a standard detection range of 200 meters and a maximum range of 250 meters.
On May 30, Seyond announced a partnership with an unnamed leading Chinese automotive group to exclusively supply its 905 nm Robin E1X products to multiple brands under the group.
Hesai's primary product is the AT series, including the AT 128, with automotive clients including Li Auto (NASDAQ: LI).
The lawsuit comes as Seyond prepares for its Hong Kong listing. Earlier this month, it received approval from the China Securities Regulatory Commission (CSRC) for the plan.
Seyond plans to list on the Hong Kong Stock Exchange through a merger with special purpose acquisition company (SPAC) TechStar Acquisition Corporation.
In the meantime, Seyond intends to issue up to 190,240,000 ordinary shares, according to an October 14 announcement on the CSRC website.
Hesai ranks among China's largest LiDAR manufacturers, with 514,189 units installed from January to August, capturing a 32.8 percent market share, per data provider Gasgoo.
Huawei led the market during this period with 643,826 units installed and a 41.1 percent market share.
RoboSense Technology (HKG: 2498) ranked third with 305,171 units installed and a 19.5 percent share.
Seyond ranked fourth with 104,700 units installed and a 6.7 percent market share.
