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Hesai Group achieves strong growth and sets clear path towards profitability

Nov 27, 2024•over 1 year ago

Contract Type

partnership

Palo AltoManufacturingSoftwareRobotics

Description

Hesai Group's third-quarter revenue rose 21.1% year-on-year to 540 million yuan ($76.9 million), surpassing the top end of its earlier guidance. The company is rapidly approaching year-end profitability and aiming to become the first profitable automotive LiDAR firm by 2024.

Company Information

Company

Hesai Group

Location

Palo Alto, California, United States

About

Hesai is the global leader in three-dimensional light detection and ranging (lidar) solutions. The Company's lidar products enable a broad spectrum of applications across passenger and commercial vehicles with advanced driver assistance systems (ADAS) and autonomous vehicle fleets (autonomous mobility). Hesai's technology also empowers robotics applications such as last-mile delivery robots and logistics robots in restricted areas. The Company's commercially validated solutions are backed by superior research and development capabilities across optics, mechanics, electronics, and software. Hesai integrates lidar designs with an in-house manufacturing process, facilitating rapid product development while ensuring high performance, consistent quality, and affordability. Hesai has established strong relationships with leading automotive OEMs, autonomous vehicle, and robotics companies worldwide, covering over 40 countries as of December 31, 2023.

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Based on industry data
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