Hesai rides on lidar growth as smart cars gain ground despite China’s struggling market

Hesai Group, a Chinese company that produces lidar sensors for smart cars, has seen an increase in orders for its products this year compared to the same period last year. This growth is attributed to the rising demand for lidar technology as carmakers push to produce more intelligent vehicles. Despite a struggling broader automotive market in China, Hesai's lidar business appears to be gaining traction, driven by the increasing adoption of this technology in new car models.

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The growth of smart cars in China could sustain growth for hi-tech component suppliers. This growth could lead to increased demand and investment in the sector.

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MeridStreet does not reproduce source articles. The summary and analysis above are generated by MeridStreet from public headlines and its own market model; the original reporting belongs to South China Morning Post. For information only — not financial advice.