Shanghai-based Hesai Group, a leading manufacturer of LiDAR technology for autonomous and advanced assisted driving, has signed an investment agreement with the Chongqing Economic Development Zone to establish a software global R&D headquarters in the city. The deal was announced on March 26th, according to a report in the Chongqing Daily.
Chongqing’s mayor, Hu Henghua, has called on Hesai to strengthen its cooperation with local car companies. As part of the agreement, Hesai will create an innovation incubation center, establish a LiDAR industrial park, and construct the software global R&D headquarters in the Chongqing Economic Development Zone.
Hesai, which began in Shanghai in late 2014, initially focused on developing high-performance laser sensors and started exploring driverless LiDAR products in 2016. The company made its NASDAQ debut on February 9, becoming the first Chinese LiDAR manufacturing firm to list in the US.
According to its earnings report on March 16, Hesai shipped 47,515 LiDAR units in the fourth quarter, up 739.2 percent from 5,662 units in the same period in 2021. In comparison, the company shipped 43,351 ADAS LiDAR units in the fourth quarter, compared to just 87 units in the same period in 2021. Hesai also shipped 80,462 LiDAR units in the full year 2022, up 467.5 percent from the previous year.
The investment agreement between Hesai and the Chongqing Economic Development Zone demonstrates the growing importance of LiDAR technology for autonomous and advanced assisted driving. With its focus on R&D and innovation, Hesai is well-positioned to lead the way in this exciting field.
