Hesai

Hesai did not disclose the name of the Toyota joint venture, but said that the automaker's models equipped with its ATX LiDAR will go into mass production in 2026.

Hesai is the second Chinese company after Pony AI to be reported this month to have confidentially filed for a Hong Kong listing.

Hesai's ATX LiDAR will be used in multiple production models of Leapmotor from 2025 onwards.

Hesai will break ground on its first overseas project by the end of this year, targeting production in 2026, according to the Financial Times.

This is the first time a foreign automaker has sought to apply this Chinese-made technology to models sold outside China, according to Reuters.

Hesai has unveiled the AT1440, which it said has the world's highest number of channels for an automotive LiDAR, with a resolution more than 30 times higher than mainstream automotive LiDARs.

Hesai said it delivered more than 100,000 LiDARs in December, the first LiDAR maker in the world to reach the milestone.

The AT512 has 512 laser channels and a maximum detection range of over 400 meters.

Neta will carry Hesai's ultra-high-definition, long-range AT128 LiDAR on its new models, which are expected to begin mass production in the first half of 2025.

Hesai began trading on the Nasdaq on February 9 and has suffered a prolonged sell-off since then, with a cumulative decline of more than 60 percent to date.