Hesai Selected as Exclusive Lidar Provider for Chery's iCAR Targeting the Mass Market
Hesai Technology (NASDAQ: HSAI) has secured an exclusive series production partnership with Chery Automobile's new energy brand, iCAR.
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Rhea-AI Summary
Hesai Technology (NASDAQ: HSAI) has secured an exclusive series production partnership with Chery Automobile's new energy brand, iCAR. The agreement involves integrating Hesai's ATX Lidar technology into new iCAR vehicles, with mass production set to begin in Q4 2025.
The ATX lidar, a compact long-range sensor, will enhance iCAR vehicles' perception capabilities for features including active braking, adaptive cruise control, urban navigation, and smart parking. This partnership aligns with Chery's intelligent mobility strategy.
Hesai has achieved significant milestones, securing design wins with 22 automotive OEMs for over 120 vehicle models globally. The company made history in December 2024 by becoming the first lidar company to deliver more than 100,000 units in a single month.
Positive
- Secured exclusive partnership with major automaker Chery for mass-market vehicles
- Mass production scheduled to begin Q4 2025
- Strong market position with 22 OEM design wins across 120 vehicle models
- Achieved industry milestone with 100,000+ monthly unit deliveries in December 2024
Negative
- None.
Details
News Market Reaction – HSAI
The recorded move for HSAI in the trading session of this news was -1.82%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
Hesai's ATX lidar, a compact, ultra-high-definition, long-range sensor, is set to enhance iCAR vehicles' perception capabilities in complex scenarios including active braking, adaptive cruise control, urban navigation, and smart parking. The partnership is part of Chery's comprehensive intelligent mobility strategy which is designed to make it a leader in smart mobility ecosystems.
"We are glad to have been selected as the exclusive lidar provider for iCAR's new models. Our partnership with Chery represents a significant milestone in our endeavor to make intelligent driving technology accessible to the mass market," said Yifan "David" Li, Hesai's Co-Founder and CEO.
To date, Hesai has secured design wins with 22 automotive OEMs for over 120 vehicle models globally. In December 2024, Hesai became the first lidar company in the world to deliver more than 100,000 units in a single month.
View original content:https://www.prnewswire.com/news-releases/hesai-selected-as-exclusive-lidar-provider-for-cherys-icar-targeting-the-mass-market-302412012.html
SOURCE Hesai Technology
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