Latest news with #HesaiGroup
Reuters
a day ago
- Business
- Reuters
China-based Hesai appeals ruling over US linking firm to Chinese military
WASHINGTON, July 14 (Reuters) - China-based lidar manufacturer Hesai Group (ZN80y.F), opens new tab appealed a ruling on Monday upholding a U.S. government decision to add it to a list of companies allegedly working with Beijing's military. U.S. District Judge Paul Friedman in Washington ruled on Friday that the Defense Department's finding that Hesai contributes to the Chinese defense industrial base is supported by substantial evidence reflecting lidar's military application, national security concerns around Chinese lidar makers and Hesai's cooperation with Chinese agencies. Hesai said it appealed the decision to the U.S. Court of Appeals for the District of Columbia.
Nikkei Asia
2 days ago
- Automotive
- Nikkei Asia
China's Hesai appeals US court ruling supporting blacklist inclusion
Hesai Group's Shanghai headquarters. The company's Nasdaq shares jumped last month after Xiaomi reported that its newest electric vehicles which are installed with Hesai sensors received more orders than expected. © Reuters WATARU SUZUKI SHANGHAI -- Hesai Technology, the Chinese producer of light detection and ranging (LiDAR) sensors used in vehicles, said Monday it has appealed a U.S. court ruling that upheld the Department of Defense's decision to include it on a military blacklist. The department added Hesai in January 2024 to Section 1260H, which is a list of entities it claims are affiliated with the Chinese military. The company was removed from the list in October, only to be immediately added again, according to court filings. Hesai challenged the designation in court, arguing it was "arbitrary and capricious" and insisted that it did not have military links.
Yahoo
28-06-2025
- Automotive
- Yahoo
Hesai Group (HSAI) Soars 19.26% as New Lidar Secures Safety Certification
Hesai Group (NASDAQ:HSAI) is one of the . Hesai Group soared by 19.26 percent on Thursday to end at $23.10 apiece after achieving a new milestone for its ATX Lidar and safety certification portfolio. In a statement, Hesai Group (NASDAQ:HSAI) said that its ATX, a compact, high-resolution, long-range lidar, officially obtained ISO 26262 ASIL B functional safety certification from SGS-TÜV, the world's leading testing, inspection, and certification institution. ATX marked its fourth ISO 26262 accreditation after after Pandar128, QT128, and AT128. With the new certification, Hesai Group (NASDAQ:HSAI) said it now holds the highest number of ISO 26262 certified products in the world. ISO 26262 is a key standard for the functional safety of electrical and electronic (E/E) systems in vehicles. It calls for carefully planned safety measures at every step of the development process—from safety management and concept design, to system, hardware, and software development. Logistics robots filling packages in a warehouse, preparing for delivery. As vehicles become more dependent on E/E systems, ISO plays an important role in ensuring vehicle components adhere to the most stringent safety standards to reduce costly recalls and prevent passenger injuries. While we acknowledge the potential of HSAI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Star
30-05-2025
- Automotive
- The Star
Chinese lidar maker Hesai zeroes in on South-East Asia for first overseas plant
China's Hesai Group, the world's largest maker of automotive lidar sensors, plans to open its first plant outside the mainland in Southeast Asia next year. Chief financial officer Andrew Fan said on Wednesday the Shanghai-based company recently signed a land lease for the factory, with construction set to start later this year and production in late 2026. He did not give details. The factory will supply light detection and ranging sensors – which employ laser beams to measure distances to objects – to international marques that design and assemble smart vehicles, he added. 'From the end of 2026 or early 2027, Hesai will rely on the plant in Southeast Asia to serve some of our international clients,' Fan said. 'We are building overseas plants to implement our go-global strategy.' The company's announcement came after Hesai on Tuesday reported a 46.3 per cent jump in first-quarter revenue to 530 million yuan (US$73.6 million), while its net loss narrowed 84 per cent to 17.5 million yuan. Fan said the company would generate a profit of 200 million yuan to 350 million yuan for the full year on the back of surging demand for lidar sensors by smart-car and robot makers. Hesai – whose clients include Li Auto, China's largest maker of premium electric vehicles (EVs), and Geely, owner of Volvo Cars – would deliver 1.5 million units to customers this year, he added. Last month, CEO David Li Yifan said that the company would increase its manufacturing capacity fourfold this year to 2 million units, from about 502,000 units in 2024. Fan said an escalating EV price war on the mainland would have minimal impact on Hesai's revenue. 'We firmly believe people's rising awareness about safety and rapid technology advancement in making cars more autonomous will result in stronger demand for lidar sensors,' Fan said. 'Carmakers and consumers need reliable hardware and software to ensure driving safety. They will not try to save costs on driver assistance systems.' The company also plans to set up factories in Europe, where Hesai has formed partnerships with several top carmakers to develop advanced driver assistance systems, a preliminary technology for autonomous driving. In March, Hesai announced that its products would be used in the next-generation cars of a 'leading European' assembler over the next decade, which Reuters reported was Mercedes-Benz. It was the first time that a major European carmaker had picked a Chinese lidar supplier. Hesai's overseas expansion is the latest example of Chinese automotive supply-chain vendors showcasing their superiority in technology and manufacturing. Chinese car-component makers, from EV battery producers like Contemporary Amperex Technology (CATL) to automobile safety glassmaker Fuyao Glass, were being welcomed by developed markets like Europe to establish factories, according to analysts. 'Chinese technology is spreading rapidly in the global auto industry and that [trend] has become more visible,' said Paul Gong, head of China automotive research at UBS. 'The rise of the Chinese auto sector is not only reflected in Chinese-branded cars, but also in its influence on global carmakers amid their transition to EVs and smart mobility.' On May 20, CATL completed the world's largest stock sale this year, raising HK$41 billion (US$5.23 billion), with its Hong Kong shares climbing 16.4 per cent on their trading debut. The company said it would use the proceeds to construct plants overseas. - SOUTH CHINA MORNING POST
South China Morning Post
29-05-2025
- Automotive
- South China Morning Post
Chinese lidar maker Hesai to open first overseas plant in Southeast Asia next year
China's Hesai Group , the world's largest maker of automotive lidar sensors, plans to open its first plant outside the mainland in Southeast Asia next year. Chief financial officer Andrew Fan said on Wednesday the Shanghai-based company recently signed a land lease for the factory, with construction set to start later this year and production in late 2026. He did not give details. The factory will supply light detection and ranging sensors – which employ laser beams to measure distances to objects – to international marques that design and assemble smart vehicles, he added. 'From the end of 2026 or early 2027, Hesai will rely on the plant in Southeast Asia to serve some of our international clients,' Fan said. 'We are building overseas plants to implement our go-global strategy.' Hesai's AT128 long-range automotive lidar. Photo: Handout The company's announcement came after Hesai on Tuesday reported a 46.3 per cent jump in first-quarter revenue to 530 million yuan (US$73.6 million), while its net loss narrowed 84 per cent to 17.5 million yuan.
