Hesai Secures Design Wins for Multiple Chery Models, Mass Production to Begin This Year

Rhea-AI Summary

Hesai Technology (HSAI) has secured design wins for multiple Chery Automobile models, with mass production scheduled to begin in H2 2025. The vehicles will feature Hesai's latest generation ATX lidar, an ultra-compact high-performance system.

Chery, which reported a 38% year-over-year increase in global car sales with 2.6 million vehicles sold in 2024, forecasts over 3 million deliveries in 2025. As China's leading vehicle exporter, Chery's exports reached 1.14 million vehicles in 2024, up 21.4% year-on-year.

Hesai has accumulated over 100 design wins across 21 automotive OEMs. The company's ATX lidar, launched in April 2024, has been selected by numerous automakers, including top new energy vehicle companies and European and American OEM joint ventures in China. Hesai's planned annual production capacity for 2025 is expected to exceed 2 million units.

Positive

• Secured multiple design wins with Chery, a major automotive manufacturer
• Over 100 design wins across 21 automotive OEMs
• Production capacity expected to exceed 2 million units in 2025
• ATX lidar selected by multiple leading automakers including international joint ventures

Negative

• None.

SHANGHAI, Jan. 21, 2025 /PRNewswire/ -- Hesai Technology (Nasdaq: HSAI), the global leader in automotive lidar technology, today announced that it has secured design wins for multiple Chery Automobile models. The models are expected to enter mass production in the second half of 2025 and will be equipped with the newest generation of Hesai's ultra-compact high-performance ATX lidar.

Chery's vehicle line-up includes passenger cars, commercial vehicles, and urban mobility vehicles. Chery recently reported a 38 percent jump in global car sales year-over-year, with 2.6 million vehicles sold in 2024, and a forecast of more than 3 million deliveries this year. As the leading exporter of Chinese-brand passenger vehicles, Chery announced its total exports in 2024 exceeded 1.14 million vehicles, a 21.4% increase year-on-year.

As of December 2024, Hesai has earned more than 100 design wins across 21 automotive OEMs including Chery, Great Wall Motors, and Changan.

The ATX offers powerful performance in a compact form, empowering advanced assisted driving functions. Since its release in April 2024, Hesai's ATX has been selected for mass production vehicles by numerous leading automakers including top new energy vehicle companies and leading European and American OEMs' joint ventures in China.

In 2025, Hesai's planned annual production capacity is expected to exceed 2 million units, supported by the company's mass production capabilities and research and development innovation.

View original content:https://www.prnewswire.com/news-releases/hesai-secures-design-wins-for-multiple-chery-models-mass-production-to-begin-this-year-302356054.html

SOURCE Hesai Technology

FAQ

When will Hesai (HSAI) begin mass production for Chery models?

Hesai will begin mass production for multiple Chery models in the second half of 2025.

How many design wins has Hesai (HSAI) secured as of December 2024?

Hesai has secured more than 100 design wins across 21 automotive OEMs including Chery, Great Wall Motors, and Changan.

What is Hesai's (HSAI) expected production capacity for 2025?

Hesai's planned annual production capacity is expected to exceed 2 million units in 2025.

When was Hesai's ATX lidar released and who has adopted it?

Hesai's ATX lidar was released in April 2024 and has been selected by numerous leading automakers, including top new energy vehicle companies and European and American OEMs' joint ventures in China.