Hesai to Exclusively Supply 1.5 Million Lidar Units to Changan Automobile for Multiple Car Brands

Rhea-AI Summary

Hesai (NASDAQ: HSAI) has secured an exclusive agreement with Changan Automobile to supply over 1.5 million ATX compact lidar units for their new intelligent driving platform. The partnership will cover more than 10 vehicle models across multiple Changan brands, with initial mass production scheduled for the second half of 2025.

This agreement builds upon their existing strategic partnership from 2022, which recently saw success with the Changan Nevo E07 launch in October 2023, featuring two Hesai AT128 lidars. The ATX model, introduced in April 2023, utilizes Hesai's proprietary technology to deliver enhanced point cloud resolution while reducing size, weight, and power consumption. Multiple automotive companies have already selected ATX for their 2025 mass-production models.

Positive

• Secured exclusive contract for 1.5+ million lidar units with Changan Automobile
• Implementation across 10+ vehicle models from multiple brands
• Successful existing partnership demonstrated by Nevo E07 launch
• Multiple automotive companies selecting ATX for 2025 mass production

Negative

• Mass production not starting until second half of 2025

SHANGHAI, Dec. 5, 2024 /PRNewswire/ -- Hesai (NASDAQ: HSAI), the global leader in lidar solutions, announced this week that it will be the exclusive provider of automotive long-range lidar for Changan Automobile's new intelligent driving platform. The order volume for Hesai's ATX compact lidar model, released in April of this year, is expected to exceed 1.5 million units over the next few years.

According to the agreement, Hesai will provide lidar products for more than 10 vehicle models from multiple Changan Automobile brands, with the platform's first model expected to enter mass production in the second half of 2025. In line with the initial strategic partnership established in 2022, the Changan Nevo E07, equipped with two Hesai AT128 lidars, was successfully launched in October of this year and received widespread praise from the market.

The ATX model is a compact ultra-high-resolution long-range lidar featuring Hesai's proprietary platform technology, which enhances point cloud resolution while decreasing the unit's volume, weight, and power consumption. Hesai's ATX is steadily approaching mass production with multiple automotive companies selecting the ATX as a standard configuration for mass-production models in 2025.

In the near future, Hesai's ATX model will empower multiple brands and vehicle models to enhance road safety with Changan Automobile's intelligent driving platform. Hesai will continue to work closely with Changan Automobile to bring the benefits of advanced intelligent driving functions to more people worldwide.

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SOURCE Hesai Technology

FAQ

How many lidar units will Hesai (HSAI) supply to Changan Automobile?

Hesai will supply over 1.5 million ATX compact lidar units to Changan Automobile over the next few years.

When will Changan Automobile begin mass production of vehicles with Hesai's (HSAI) ATX lidar?

Mass production of the first model with Hesai's ATX lidar is expected to begin in the second half of 2025.

How many vehicle models will use Hesai's (HSAI) lidar technology under this agreement?

The agreement covers more than 10 vehicle models across multiple Changan Automobile brands.