Hesai Group's shares surged 6.61% in pre-market trading on Thursday, driven by news of a significant deal to supply its advanced lidar sensors to Changan Automobile for its new intelligent driving platform.
According to the agreement, Hesai will be the exclusive provider of automotive long-range lidar for Changan Automobile, with an order volume expected to exceed 1.5 million units of its ATX compact lidar model over the next few years. The ATX lidar will be integrated into more than 10 vehicle models across multiple Changan brands, with the first model slated for mass production in the second half of 2025.
This deal solidifies Hesai's position as a leading lidar supplier for the automotive industry and highlights the growing demand for advanced driver assistance systems (ADAS) and autonomous driving capabilities. The ATX lidar's high resolution, compact design, and low power consumption make it an attractive choice for automakers seeking to enhance road safety and pave the way for future self-driving vehicles.
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