(Updates to include recent movement of Hesai Technology's American depositary shares in the headline and first paragraph.)

Hesai Technology (HSAI) shares were up 9.7% in recent Tuesday trading after the company said it will expand its partnership with BYD to provide lidar for more than 10 vehicle models, which are expected to begin mass production this year.

The company said its ATX lidar, designed for advanced driver assistance capabilities, will enter mass production in Q1 and has already been picked by multiple automakers.

BYD said all its models will include its "God's Eye" advanced driver assistance system, with lidar for autopilot navigation for both city and highway driving.

Hesai reported delivering over 100,000 lidar units in December 2024 and expects its annual production capacity to exceed 2 million units by the end of the year.

Price: 18.75, Change: +1.66, Percent Change: +9.71