Hesai Technology in China secures a $40m production deal with a US robotaxi company, extending deliveries until 2026. The agreement covers long-range and short-range LiDAR supply to support Level 4 autonomous driving technology in the expanding robotaxi industry.

Market research firm Yole Group reports Hesai holds a 61% share in the global market for L4 autonomous driving LiDARs. With a range of products catering to highway and urban safety needs, Hesai is positioned to support the widespread deployment of robotaxi fleets.

Hesai continues to expand its partnerships, securing an order from Motional for short-range LiDARs in their all-electric Ioniq 5 robotaxi. The company also announced a collaboration with Toyota for a new energy vehicle model featuring Hesai’s long-range automotive LiDAR ATX.

Mercedes-Benz plans to integrate Hesai’s LiDAR sensors into their smart driving vehicles for the global market. These developments highlight the growing importance of LiDAR technology in enabling safe and reliable autonomous driving solutions.

Read more at Yahoo Finance: Hesai secures $40m LiDAR supply deal with US robotaxi firm