Hesai Group to cut lidar prices in half for autonomous driving, targeting wide EV adoption

From Investing.com: 2024-11-27 01:06:31

China’s Hesai Group plans to halve the price of its lidar sensors for autonomous driving, making them more affordable for electric cars. CEO David Li expects the adoption rate to rise to 40% for EVs priced above 150,000 yuan. The company aims to break even this quarter after a net loss in the third quarter. Shares in Hesai soared 44% after the earnings report, with plans to double output next year. Hesai is looking to expand globally and set up plants overseas to counter potential entry barriers in foreign markets. Tesla has notably shunned lidar technology in favor of cameras and AI for hazard detection.



Read more at Investing.com: Exclusive-China’s Hesai to halve lidar prices next year, sees wide adoption in electric cars By Reuters