Hesai Group (NASDAQ: HSAI) observed an upward trajectory in its stock value during the after-market session on Monday, experiencing a 4.61% increase to $3.97. This rise partially counterbalanced the decline of 8.55% during the regular session, which concluded at $3.78. The after-hours recovery of HSAI stock followed significant corporate developments recently disclosed by the company.
Hesai (HSAI) has recently unveiled a series of notable product launches and business advancements, aiming to propel intelligent driving systems forward in order to enhance global transportation efficiency, safety, and ultimately, save lives. These announcements showcased the company’s unparalleled expertise in lidar innovation, advanced manufacturing, and swift commercialization.
The foremost announcement introduced Hesai’s latest flagship product, the AT512 ultra long-range ADAS lidar. Representing a significant leap in lidar innovation, the AT512 sets a new standard in performance, reliability, and safety within a sleek, compact design. Tailored for automotive OEMs demanding superior performance, the AT512 boasts an industry-leading range of 300 meters at 10% reflectivity, extending to over 400 meters, and an unprecedented point-rate of 12,300,000 points per second.
This advancement ensures enhanced reaction time for ADAS systems, fortifying transportation safety significantly. The AT512 epitomizes a groundbreaking achievement in lidar technology, delivering unmatched performance enhancements across critical aspects such as range, resolution, thermal efficiency, power consumption, and form factor. The second announcement unveiled the ultra-thin ET25 ADAS lidar, engineered to seamlessly integrate behind a vehicle’s windshield, optimizing aerodynamics and cleanliness.
Combining powerful performance with innovative design, the ET25 simplifies vehicle integration significantly. Recognized with a 2024 CES Innovation Award, the ET25 provides 250 meters of range at 10% reflectivity. HSAI is collaborating with leading OEMs to incorporate the ET25 into upcoming production vehicles, scheduled to commence production in Q1 of 2025.
These announcements followed Hesai’s acquisition of a lidar design contract with a prominent global OEM for an upcoming fully electric production series. Additionally, the company achieved a milestone of delivering over 300,000 cumulative units, with a record-breaking 50,000 units delivered in December alone. Hesai’s automotive lidar technology has been adopted by 15 major OEMs and tier-1 suppliers, spanning across more than 50 production models, with further expansion anticipated.
