Hesai (HSAI) Rises on Exclusive LiDAR Production Deal with Changan Auto

Dec 05, 2024

Hesai Technology (HSAI, Financial) saw its stock rise nearly 6% in pre-market trading, reaching $10.10. The company announced that its recently launched Hesai ATX has been selected as the exclusive LiDAR for Changan Auto's new intelligent driving platform. This agreement covers over ten models across various brands under Changan Auto.

The projected order volume is expected to exceed 1.5 million units over the coming years, with the first model from this platform anticipated to enter mass production in the second half of 2025.

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