Hesai Group (NASDAQ: HSAI), a leading Chinese lidar maker, saw its stock soar by 7.88% in pre-market trading on Monday, December 30, 2024. This significant surge came after the company announced a major milestone as the first lidar manufacturer worldwide to deliver over 100,000 lidar units in a single month, shipping more than 100,000 units in December 2024.

The impressive delivery numbers highlight Hesai's robust demand and growing market share in the lidar industry, which plays a crucial role in advanced driver assistance systems (ADAS) and autonomous driving technologies. In addition to the automotive sector, the company also delivered over 20,000 lidar units for robotics applications like mobile robots, delivery robots, and autonomous lawn mowers, signaling its strong presence across various sectors.

Hesai's surge is further fueled by the increasing adoption of lidar technology among leading automakers in China. The company secured new lidar orders for over 10 models from three of the top five selling local brands, expanding its customer base to 21 automakers with products used in more than 100 models. This surge in demand is expected to drive Hesai's growth as automakers embrace advanced safety and autonomous driving features in their vehicles.