Hesai Technology (Hesai; ) is a U.S.-

publicly listed A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (li ...

Chinese technology company that engages in the development and sales of

lidar Lidar (, also LIDAR, an acronym of "light detection and ranging" or "laser imaging, detection, and ranging") is a method for determining ranging, ranges by targeting an object or a surface with a laser and measuring the time for the reflected li ...

products such as sensors. Its products are used mainly in the ADAS,

vehicular automation Vehicular automation is using technology to assist or replace the operator of a vehicle such as a car, truck, aircraft, rocket, military vehicle, or boat. Assisted vehicles are ''semi-autonomous'', whereas vehicles that can travel without a ...

robotics Robotics is the interdisciplinary study and practice of the design, construction, operation, and use of robots. Within mechanical engineering, robotics is the design and construction of the physical structures of robots, while in computer s ...

and industrial sectors.

History

When Hesai was founded, lidar products were entering a period of growth especially when American companies were launching robotaxis. At that time, a set of lidar products could cost up to US$80,000 however Hesai was able to sell them for US$40,000 which helped it to gain it market share. Hesai has seen domestic success in China. Previously

Baidu Baidu, Inc. ( ; ) is a Chinese multinational technology company specializing in Internet services and artificial intelligence. It holds a dominant position in China's search engine market (via Baidu Search), and provides a wide variety of o ...

acquired light sensors from Velodyne Lidar for its robotaxis. However Velodyne did not have a warehouse in China and it took months to send parts back and forth to the US for repair. Hesai took advantage by being able to provide domestic after-sales service that could repair components within two days. As a result, in 2018, Baidu awarded Hesai a contract to be its supplier. Hesai has also targeted self driving cars. In 2021 it launched its first generation lidar for self driving cars, and in 2022 it launched its second generation one.

Li Auto Li Auto Inc. () is a Chinese electric car, electric vehicle manufacturer headquartered in Beijing, with manufacturing facilities in Changzhou.https://www.sec.gov/Archives/edgar/data/1791706/000104746920004077/a2241802zf-1.htm Founded by Li Xiang ...

became a customer of Hesai in 2021 and is its largest one. Other customers include

Lotus Cars Lotus Group (also known as Lotus Cars) is a British multinational automotive manufacturer of luxury sports cars and electric vehicles. Lotus Group is composed of three primary entities. Lotus Cars, a high-performance sports car company, is ba ...

Changan Automobile Changan Automobile Co., Ltd. (CCAG) is a Chinese state-owned automobile manufacturer headquartered in Jiangbei, Chongqing.

SAIC Motor SAIC Motor Corp., Ltd. (formerly Shanghai Automotive Industry Corporation) is a Chinese State-owned enterprises of China, state-owned automobile manufacturer headquartered in Anting, Shanghai. Founded in 1955, it is currently the largest of the ...

, and

FAW Group China FAW Group Corp., Ltd. (First Automotive Works) is a Chinese state-owned automobile manufacturer headquartered in Changchun, Jilin.Nio Nio or NIO may refer to: * NI Opera, Opera company * Nio (Buddhism), guardians of the Buddha * Nio Inc., a Chinese electric automobile manufacturer * Nicaraguan córdoba, currency by ISO 4217 currency code * National Institute of Oceanography (d ...

and

XPeng Guangzhou Xiaopeng Motors Technology Co., Ltd., Trade name, trading as XPeng Motors ( zh, c=小鹏汽车, p=Xiǎopéng Qìchē), commonly known as XPeng, is a Chinese electric vehicle manufacturer. The company is headquartered in Guangzhou, Guan ...

. On February 9, 2023, Hesai held its

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

to become a listed company on the

Nasdaq The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...

in the United States. It raised US$190 million making it the biggest Chinese listing since 2021 when DiDi listed. Hesai rose 11% on its trading debut. A US listing was chosen due to Hesai wanting more exposure on the global stage. In May 2023, the

Congressional Research Service The Congressional Research Service (CRS) is a public policy research institute of the United States Congress. Operating within the Library of Congress, it works primarily and directly for members of Congress and their committees and staff on a ...

produced a report accusing Hesai of supporting the Chinese military. In January 2024, the

United States Department of Defense The United States Department of Defense (DoD, USDOD, or DOD) is an United States federal executive departments, executive department of the federal government of the United States, U.S. federal government charged with coordinating and superv ...

(DOD) added Hesai to the list of "Chinese military companies" operating in the U.S. In May 2024, Hesai sued the DOD asking it to remove Hesai from the list. It alleged the DOD's behavior was "arbitrary and capricious" because it did not provide the company with prior notice or an opportunity to respond. Hesai alleged the DOD failed to explain its rationale, provide evidence or review information submitted by Hesai. In August 2024, the DOD decided to remove Hesai from the list as it did not meet the legal criteria for inclusion. In October 2024, the DOD relisted Hesai based on new information. As a result, Hesai continued its lawsuit against the DOD. In 2023, Hesai held 73% of the market share for robotaxi lidar suppliers. Its customers include Cruise,

Aurora Innovation Aurora Innovation, Inc., doing business as Aurora, is a self-driving vehicle technology company based in Pittsburgh, Pennsylvania. Aurora has developed the Aurora Driver, a computer system that can be integrated into cars for autonomous driving. ...

Apolong The Apolong (), sometimes referred to as the Baidu Apollo project, is a driverless vehicle developed by Baidu, Kinglong and a consortium of more than 40 companies. The Level 4 microcirculation Apolong bus commenced mass production in 2017. It i ...

DiDi Didi Chuxing Technology Company is a Chinese vehicle for hire company headquartered in Beijing with over 550 million users and tens of millions of drivers. The company provides app-based transportation services, including taxi hailing, private ...

and Pony.ai. In April 2024, Hesai stated it was considering building plants in Europe to make lidar products domestically for the European market. Hesai Technology has been compared to

RoboSense RoboSense Technology Co., Ltd (RoboSense; ) is a publicly listed Chinese technology company that engages in the development and sales of lidar products such as sensors. Its products are used mainly in the ADAS, vehicular automation, robotics an ...

and is considered its main rival in China.

References

External links

* {{authority control 2014 establishments in China 2023 initial public offerings Companies based in Shanghai Companies listed on the Nasdaq Lidar Defence companies of the People's Republic of China

History

See also

References

External links