Shares of Hesai Group (NASDAQ: HSAI), a leading LiDAR maker in China, soared 7.4% in pre-market trading on Monday, following the company's announcement of delivering over 100,000 LiDAR units in December 2024, marking a significant milestone as the first LiDAR manufacturer to achieve this feat.
The pre-market rally highlights investors' optimism about Hesai's robust demand and growing market share in the LiDAR industry, which is crucial for advanced driver assistance systems (ADAS) and autonomous driving technologies. According to the company, it delivered over 20,000 LiDAR units for robotics applications in December alone, indicating its strong presence in various sectors such as mobile robots, delivery robots, and autonomous lawn mowers.
Hesai's impressive delivery numbers also underscore the increasing adoption of LiDAR technology among automakers in China. The company reported securing new LiDAR orders from three of the top five selling local brands for over 10 models, 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.
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