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SHANGHAI - Hesai Technology (NASDAQ: HSAI), a high-growth lidar solutions provider whose stock has surged nearly 300% over the past year, has announced an exclusive partnership with Chery Automobile for the integration of its ATX Lidar into Chery’s new energy iCAR brand. According to InvestingPro analysis, while the company’s current valuation appears rich, its strong market momentum reflects investor confidence in its growth trajectory. The collaboration is set to begin mass production in the fourth quarter of 2025, aiming to improve iCAR vehicles’ safety and navigation features.
The ATX Lidar by Hesai is recognized for its compact design and ultra-high-definition capabilities, providing long-range sensing that enhances vehicle perception in various driving conditions. This technology will support advanced driving assistance systems (ADAS) in iCAR vehicles, including active braking, adaptive cruise control, urban navigation, and smart parking. The company’s solid financial position, with a current ratio of 2.87 and more cash than debt on its balance sheet, provides a strong foundation for its technological advancement initiatives.
This partnership aligns with Chery’s strategy to emerge as a leader in intelligent mobility ecosystems. Yifan "David" Li, Co-Founder and CEO of Hesai, expressed enthusiasm about the collaboration, emphasizing its importance in bringing intelligent driving technology to a broader market.
Hesai’s market presence is significant, with design wins across 22 automotive OEMs and more than 120 vehicle models worldwide. The company achieved a milestone in December 2024, becoming the first lidar company to deliver over 100,000 units in a single month.
The information provided is based on a press release statement from Hesai Technology.
In other recent news, Hesai Technology has been at the center of several significant developments. A short seller report by Blue Orca Capital has raised questions about the company’s financial disclosures, alleging that Hesai is misleading investors and has connections with the Chinese military. The report also claims discrepancies in the company’s reported revenues and customer relationships. Meanwhile, Hesai announced a partnership with a leading Chinese New Energy Vehicle automaker to integrate its ATX lidar into new smart electric vehicles, highlighting the increasing importance of lidar technology in the automotive industry.
In the realm of analyst ratings, BOCI Research initiated coverage on Hesai with a Buy rating and a $23 price target, citing the company’s leadership in the LiDAR market and potential for significant growth. Goldman Sachs also upgraded Hesai’s stock from Neutral to Buy, setting a price target of $18.40 and projecting a 35% upside due to the adoption of new technologies and product cycles. Conversely, Morgan Stanley downgraded Hesai from Overweight to Equalweight, despite raising the price target to $15.00, due to concerns over valuation and market dynamics. These recent developments provide a multifaceted view of Hesai Technology’s current position in the market.
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