Hesai's Lidar Takes On Bigger Role In BYD's 'God's Eye' Advanced Driver Assistance

Shares of automotive lidar technology provider Hesai Technology Inc. HSAI are trading higher on Tuesday.

The company has entered into an enhanced collaboration with Chinese EV maker BYD Co. Ltd. BYDDY, BYDDF, with plans to supply lidar for more than 10 of BYD's models.

These vehicles are slated for mass production in 2025, highlighting the growing role of lidar technology in the evolution of advanced driver assistance systems (ADAS) within the automotive sector.

In 2024, BYD surpassed its domestic rivals by selling more than 4 million vehicles featuring intelligent driving technology.

The company also announced that every model would be equipped with “God’s Eye,” its next-generation ADAS, providing advanced safety and driver-assistance features to more customers.

Related Read: Rivian Commercial Van Now Available For Fleets Nationwide In US

Lidar technology will be vital for these systems, especially for vehicles using navigation on autopilot (NOA) for both urban and highway driving.

In 2024, lidar installations in vehicles exceeded 1.5 million units in China, more than doubling the figure from 2023. Also, Hesai became the first lidar maker to ship over 100,000 units in a single month in December 2024.

Hesai anticipates surpassing 2 million units in annual production capacity by 2025. The company has secured more than 100 design wins with 22 automotive OEMs, including well-known brands like Chery, Great Wall Motors, and Changan.

Hesai’s newest product, the ATX lidar, is scheduled for mass production in the first quarter of 2025. This lidar system is aimed at improving assisted driving capabilities across a broad range of vehicles.

Price Action: Hesai shares are trading higher by 8.78% at $18.59 at the last check Tuesday.

Read Next:

• Spire Global Lands ~$50M Contract For Canadian Wildfire Detection

Image: Shutterstock