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SHANGHAI - Hesai Group (NASDAQ:HSAI), a $1.99 billion market cap lidar technology provider, has announced that its AT series lidar will be featured in Cadillac’s new electric VISTIQ SUV, which was recently revealed at the Shanghai Auto Show. This integration marks a milestone as the first in-cabin lidar deployment in the automotive industry, where the sensor is mounted behind the windshield, enhancing the vehicle’s design and functionality. According to InvestingPro data, Hesai maintains a strong financial position with a current ratio of 2.87, indicating robust operational capability.
The collaboration between Hesai and Cadillac has resulted in a lidar solution that offers precise environmental sensing capabilities under various conditions, such as rain, snow, or dust. By placing the lidar inside the cabin, the risk of damage to the sensor from minor collisions is also reduced, providing an additional benefit beyond its aesthetic integration.
Cadillac’s VISTIQ, part of its new all-electric SUV lineup, is equipped with the automaker’s advanced L2 full-scenario driver system, which now includes Hesai’s innovative lidar technology. The VISTIQ aims to set a new benchmark in the integration of sensor systems into passenger vehicles, promoting the future of smart, safe electric vehicles.
David Li, Co-Founder and CEO of Hesai, expressed pride in supporting Cadillac with this groundbreaking lidar integration, stating that the in-cabin deployment of the AT series sensor is a significant advancement in automotive design and autonomous sensing technology. He also emphasized the ongoing partnership with SAIC-GM, highlighting Hesai’s role as a key supplier and digital ecosystem partner dedicated to providing high-performance, reliable, and cost-effective lidar solutions.
This strategic partnership is expected to advance the development of intelligent electric mobility, as Hesai continues to support SAIC-GM with its lidar technology. The information for this article is based on a press release statement.
In other recent news, Pony.ai has announced its seventh-generation Robotaxi lineup, which is set to begin mass production in mid-2025. This development follows a collaboration with automotive leaders Toyota, BAIC, and GAC, aimed at enhancing the stability and safety of autonomous vehicles. The company’s advanced autonomous driving system is noted for its adaptability and reduced costs. Meanwhile, Hesai Group has been chosen as the primary lidar supplier for Pony.ai’s new Robotaxi fleet, featuring its AT128 lidar sensors. This partnership underscores Hesai’s role in the autonomous driving sector.
Hesai has also introduced a new suite of lidar products, including the AT1440, ETX, and FTX, to cater to various levels of autonomous driving. Despite a slight reduction in its stock price target by BofA Securities to $21, the firm maintains a Buy rating, reflecting optimism about Hesai’s growth prospects. The company has been recognized as the leading automotive lidar provider by market share for the fourth consecutive year, capturing 33% of the global market in 2024. Hesai’s continued innovation and strategic partnerships have solidified its position in the rapidly evolving autonomous vehicle industry.
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