AlphaTON stock soars 200% after pioneering digital asset oncology initiative
Investing.com -- Hesai Group (NASDAQ:HSAI) stock rose 4.4% premarket Monday after the lidar technology company announced an expanded production agreement with a leading U.S.-based robotaxi company, now valued at over $40 million.
The deal covers lidar deliveries through the end of 2026, with Hesai selected as the exclusive supplier for both long-range and short-range lidar systems for the unnamed robotaxi company’s autonomous fleet. This expanded agreement highlights Hesai’s growing position in the autonomous vehicle technology market.
According to Yole Group research cited by the company, Hesai currently holds a 61% market share in the global Level 4 autonomous driving segment for lidar technology. Level 4 autonomy refers to vehicles that can operate without human intervention under specific conditions.
"This expanded agreement demonstrates the confidence leading robotaxi companies place in Hesai’s technology, combining performance, high reliability, and scalable manufacturing," said David Li, Cofounder and CEO of Hesai. "As the industry moves from pilots to scaled deployments, Hesai is proud to deliver lidar solutions that meet the highest standards of quality while enabling safe and reliable driverless mobility at scale."
Lidar (light detection and ranging) technology is considered essential for autonomous vehicles, providing precise distance measurements by using laser light to detect objects and create detailed 3D maps of a vehicle’s surroundings. Hesai’s comprehensive portfolio includes long-range sensors for highway driving and short-range lidars for urban safety.
The company, which trades as an American Depositary Receipt (ADR) on the Nasdaq, positions itself as a beneficiary of the robotaxi market’s transition from testing to commercial deployment.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.