Hesai Group (NASDAQ: HSAI), a leading provider of lidar solutions, experienced a significant surge in its stock price, soaring 5.3% in the pre-market trading session on Friday. This impressive rally was driven by the company's announcement of securing an exclusive lidar design win for multiple models across two brands of Great Wall Motor, a prominent Chinese automotive manufacturer.

According to the news release, Hesai's ultra-compact high-resolution long-range lidar, the ATX, will be integrated into several Great Wall Motor models, with mass production scheduled to commence in 2025. This strategic partnership marks a significant milestone for Hesai, solidifying its position as a global leader in lidar technology and highlighting the growing demand for advanced driver assistance systems (ADAS) and autonomous driving capabilities.

The announcement was warmly received by investors, who recognized the immense potential of this deal for Hesai's future revenue growth and technological dominance in the rapidly evolving automotive industry. With Great Wall Motor's robust sales performance, including a record 262,000 electric vehicles sold in 2023, Hesai's lidar solutions are poised to play a crucial role in enabling advanced intelligent mobility solutions across multiple vehicle models.