Hesai Secures New Lidar Design Win with a Top 5 Chinese NEV Automaker, Entering Mass Production Phase this Year

Rhea-AI Summary

Hesai Technology has announced a significant new design win with one of China's top 5 NEV automakers, marking a major expansion in the automotive lidar market. The automaker, affiliated with a major global automotive group, will integrate Hesai's ATX lidar as a standard feature in their upcoming high-end smart EV models.

The announcement comes amid strong market growth, with automotive lidar installations reaching 1.5 million units in 2024, double the previous year's volume. According to Gasgoo Automotive Research Institute, lidar achieved a 29% penetration rate in China's EV market for vehicles priced above $20,000 as of December 2024.

Hesai's ATX lidar, built on their fourth-generation technology platform, features an optimized opto-mechanical structure and enhanced laser transceiver modules. The company is scaling up production capacity to 2 million units annually to meet increasing automaker demand in 2025.

Positive

• Secured new design win with a top 5 Chinese NEV automaker
• ATX lidar to be standard equipment in high-end EV models
• Production capacity expanding to 2 million units annually
• Strong market growth with 1.5M automotive lidar installations in 2024 (100% YoY growth)
• 29% market penetration in premium Chinese EV segment

Negative

• None.

PALO ALTO, Calif., March 13, 2025 /PRNewswire/ -- Hesai Technology, a global leader in lidar R&D and manufacturing, has secured a new design win with a top 5 NEV automaker in China. This automaker, part of a major global automotive group, will soon commence mass production of its high-end smart EV models equipped with Hesai's ATX lidar as standard. The ATX's advanced features will significantly enhance the vehicles' intelligent driving systems.

The lidar market is experiencing rapid growth, with automotive lidar installations surpassing 1.5 million units in 2024, doubling the previous year's figure. Gasgoo Automotive Research Institute's data reveals a 29% penetration rate of lidar in China's EV market priced above $20,000 as of December 2024, highlighting its role as a crucial safety feature.

Hesai's ATX, powered by its cutting-edge fourth-generation technology platform, features a redesigned opto-mechanical structure and upgraded laser transceiver modules. This achieves a compact form factor without compromising performance. With mass production underway and an annual capacity of 2 million units planned, Hesai is well-prepared to meet the growing demand from automakers in 2025.

View original content:https://www.prnewswire.com/news-releases/hesai-secures-new-lidar-design-win-with-a-top-5-chinese-nev-automaker-entering-mass-production-phase-this-year-302401145.html

SOURCE Hesai Technology

FAQ

What is the significance of Hesai's new design win with the Chinese NEV automaker?

The design win means Hesai's ATX lidar will be standard equipment in high-end smart EV models from one of China's top 5 NEV automakers, expanding Hesai's market presence.

How many lidar units were installed in automotive applications in 2024?

Automotive lidar installations exceeded 1.5 million units in 2024, representing a 100% increase from the previous year.

What is the current lidar penetration rate in China's premium EV market?

According to Gasgoo Automotive Research Institute, lidar achieved a 29% penetration rate in China's EV market for vehicles priced above $20,000 as of December 2024.

What is Hesai's planned production capacity for 2025?

Hesai is planning for an annual production capacity of 2 million units to meet growing automaker demand in 2025.