Hesai Technology

When Hesai was founded, lidar products were entering a period of growth especially when American companies were launching robotaxis. At that time, a set of lidar products could cost up to US$80,000 however Hesai was able to sell them for US$40,000 which helped it to gain it market share.{{Cite web |last=林 |first=茂仁 |date=July 25, 2024 |title=兩岸靚人物／李一帆深耕技術 擦亮智慧車眼睛 |url=https://udn.com/news/story/7241/8119028 |access-date=January 25, 2025 |website=United Daily News |language=zh-Hant-TW}}

Hesai has seen domestic success in China. Previously Baidu acquired light sensors from Velodyne Lidar for its robotaxis. However Velodyne did not have a warehouse in China and it took months to send parts back and forth to the US for repair. Hesai took advantage by being able to provide domestic after-sales service that could repair components within two days. As a result, in 2018, Baidu awarded Hesai a contract to be its supplier.

Hesai has also targeted self driving cars. In 2021 it launched its first generation lidar for self driving cars, and in 2022 it launched its second generation one. Li Auto became a customer of Hesai in 2021 and is its largest one. Other customers include Lotus Cars, Changan Automobile, SAIC Motor, and FAW Group, Nio and XPeng.

On February 9, 2023, Hesai held its initial public offering to become a listed company on the Nasdaq. It raised US$190 million making it the biggest Chinese listing since 2021 when DiDi listed. Hesai rose 11% on its trading debut. A US listing was chosen due to Hesai wanting more exposure on the global stage.{{Cite news |last=Shen |first=Yiqin |date=February 9, 2023 |title=Hesai Raises $190 Million in Biggest Chinese US IPO Since Didi |url=https://www.bloomberg.com/news/articles/2023-02-09/hesai-raises-190-million-in-biggest-chinese-us-ipo-since-didi |access-date=January 25, 2025 |work=Bloomberg News |language=en}}

In May 2023, the Congressional Research Service produced a report accusing Hesai of supporting the Chinese military. In January 2024, the United States Department of Defense (DOD) added Hesai to the list of "Chinese military companies" operating in the U.S. In May 2024, Hesai sued the DOD asking it to remove Hesai from the list. It alleged the DOD's behavior was "arbitrary and capricious" because it did not provide the company with prior notice or an opportunity to respond. Hesai alleged the DOD failed to explain its rationale, provide evidence or review information submitted by Hesai.{{Cite news |last1=Sevastopulo |first1=Demetri |last2=White |first2=Edward |date=July 14, 2024 |title=Chinese EV laser maker fights back against Pentagon blacklisting |url=https://www.ft.com/content/f0fd46dc-62b9-4d60-8367-dc4ae860076d |url-access=subscription |access-date=January 25, 2025 |work=Financial Times |archive-date=July 17, 2024 |archive-url=https://web.archive.org/web/20240717031004/https://www.ft.com/content/f0fd46dc-62b9-4d60-8367-dc4ae860076d |url-status=live }} In August 2024, the DOD decided to remove Hesai from the list as it did not meet the legal criteria for inclusion.{{Cite news |last1=Sevastopulo |first1=Demetri |last2=White |first2=Edward |date=August 13, 2024 |title=China's Hesai to be removed from US defence department blacklist |url=https://www.ft.com/content/97dff7c2-33e9-4729-a059-968e308cac49 |url-access=subscription |access-date=January 25, 2025 |work=Financial Times |archive-date=December 8, 2024 |archive-url=https://web.archive.org/web/20241208021313/https://www.ft.com/content/97dff7c2-33e9-4729-a059-968e308cac49 |url-status=live }} In October 2024, the DOD relisted Hesai based on new information. As a result, Hesai continued its lawsuit against the DOD.{{Cite news |last=White |first=Edward |date=October 24, 2024 |title=China's Hesai to sue Pentagon after being reinstated to blacklist |url=https://www.ft.com/content/eefaad6e-dae6-4297-9cd1-87dfb6deea2f |url-access=subscription |access-date=January 25, 2025 |work=Financial Times |archive-date=December 23, 2024 |archive-url=https://web.archive.org/web/20241223015346/https://www.ft.com/content/eefaad6e-dae6-4297-9cd1-87dfb6deea2f |url-status=live }}

In 2023, Hesai held 73% of the market share for robotaxi lidar suppliers. Its customers include Cruise, Aurora Innovation, Apolong, DiDi and Pony.ai.

In April 2024, Hesai stated it was considering building plants in Europe to make lidar products domestically for the European market.{{Cite web |last=Ren |first=Daniel |date=April 21, 2024 |title=Chinese lidar maker eyes Europe plant amid growing tech adoption, falling costs |url=https://www.scmp.com/business/china-business/article/3259787/chinese-lidar-sensor-maker-hesai-eyes-european-plant-adoption-technology-widens-amid-falling-costs |access-date=January 25, 2025 |website=South China Morning Post |language=en |archive-date=November 9, 2024 |archive-url=https://web.archive.org/web/20241109045543/https://www.scmp.com/business/china-business/article/3259787/chinese-lidar-sensor-maker-hesai-eyes-european-plant-adoption-technology-widens-amid-falling-costs |url-status=live }}

Hesai Technology has been compared to RoboSense and is considered its main rival in China.{{Cite web |last=Howarth |first=Samuel |date=11 January 2024 |title=Hesai and RoboSense race for LiDar supremacy |url=https://www.digitimes.com/news/a20240109PD208/ev-huawei-ipo-lidar-mobility-seyond.html |access-date=4 February 2025 |website=DIGITIMES |language=en}}

• RoboSense

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Category:2014 establishments in China

Category:2023 initial public offerings

Category:Companies based in Shanghai

Category:Companies listed on the Nasdaq

Category:Lidar

Category:Defence companies of the People's Republic of China