It is noted that Hesai AT128 lidar is designed for advanced assisted driving front-mounted production vehicles. Since mass production and delivery began last year, it has achieved a monthly delivery volume of more than 20,000 units and a cumulative delivery of more than 130,000 units.

Hesai AT128 has a length, width and height of 137 × 112 × 48 mm, a power consumption of 18 W, a global resolution of 1200 × 128, a detection range of 200 meters (@10% reflectivity), and a frequency of over 1.53 million points per second. This lidar has been launched in many passenger models such as Lili L series Max version, Gaohe Hiphi Z, Lotus Eletre and so on.

It is worth mentioning that Hesai Technology last month designated Nezha Automobile’s new car front-end mass production project. Nezha Automobile’s new model will be equipped with Hesai’s ultra-high-definition long-range lidar AT128 and is expected to be launched in the first half of 2025.

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The media reported that the two proposed manufacturers are Tuopu Group and Hesai Group. 21st Century Business Herald learned from Hesai Technology that the news was not released by Hesai Technology, and the company has “not yet made a final decision” to build a new factory in North America. As for whether the company’s lidar is supplied to Tesla cars or humanoid robots, the other party said it did not know.

In March this year, Tesla CEO Elon Musk announced that Tesla would build a super factory in the northern Mexican state of Nuevo Leon, and this factory will be used to produce Tesla’s next-generation model. An important part of expanding global presence.

At the time, Tesla did not disclose the specific details of its investment in the Mexican Gigafactory. However, Mexican officials noted that $5 billion is expected to be invested in the upcoming factory.

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Financial report data shows that Hesai Technology’s revenue in the fourth quarter of 2022 will be 410 million CNY, a year-on-year increase of 56.6%; the annual revenue in 2022 will be 1.20 billion CNY, a year-on-year increase of 66.9%; the gross profit margin for the full year of 2022 will be 39.2%.

▲ Hesai Technology’s pure solid-state short-range blind-filling lidar

In terms of lidar delivery volume, Hesai Technology delivered 47,515 units in the fourth quarter of 2022, a year-on-year increase of 739.2%; the annual delivery volume was 80,462 units, a year-on-year increase of 467.5%.

Hesai Technology stated that AT128 will start mass production and delivery in July 2022 and continue to grow; the company’s cumulative delivery of lidar has exceeded the milestone of 100,000 units.

In terms of research and development, Hesai Technology will invest 180 million CNY in research and development in the fourth quarter of 2022, a year-on-year increase of 13.3%; the annual R&D investment in 2022 will be 560 million CNY , a year-on-year increase of 50.7%.

It is learned from Hesai Technology officials that Hesai Technology expects revenue in the first quarter of 2023 to be 390 million to 410 million CNY, a year-on-year increase of 57% to 65%.

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▲ Source: Hesai Technology

As of the close of U.S. stocks today, Hesai Technology’s share price rose 10.79% to US$21.05, with a total market value of US$2.621 billion (currently about 17.797 billion yuan).

As a lidar research and development and manufacturing company, Hesai Technology products are used in passenger cars and commercial vehicles supporting advanced driver assistance systems (ADAS), as well as autonomous vehicles. According to the prospectus, Hesai Technology will cumulatively ship more than 80,400 lidar units in 2022, ranking first in the world.

By the end of 2022, the cumulative delivery of Hesai Technology’s lidar products will exceed 100,000 units. Hesai’s customers include global mainstream automakers, autonomous driving and robotics companies, covering more than 90 cities in 40 countries around the world.

▲ Hesai Technology’s pure solid-state short-range blind-filling lidar

Hesai Technology has 1,010 employees, 70% of whom are R&D personnel, 350 patents have been authorized, and 713 patents are pending.

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As a pure solid-state lidar, the laser emission and reception of the FT120 are completely completed by the chip, the total number of components is greatly reduced, and there are no moving parts inside.

▲ FT120 explosion diagram

Hesai Technology said that the FT120 has the characteristics of a 100°×75° ultra-wide-angle field of view and zero blind spot, with a maximum range of 100 meters, which can sense high street signs, railings, three-dimensional garage mezzanine, etc. It can also detect short children, pets, cones, zebra crossings, etc.

In terms of applications, FT120 can help smart cars “see” the surrounding road conditions in real-time and avoid danger in scenarios such as intersection steering, vehicle jamming, active overtaking, and automatic parking.

In addition, Hesai Technology revealed that the pure solid-state short-range blind-filling lidar FT120 has obtained more than 1 million mass production points from many OEMs, and it is expected to be mass-produced and delivered in the second half of 2023.

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And just recently, some media said that Xiaomi’s first car has identified the lidar supplier as Hesai Technology, with a price limit of more than 300,000 yuan, and it is a car, which is the main cost-effectiveness of Xiaomi’s mobile phones and other products in the past. The model is different, and it also differs from the affordable price point that some users expect.

In terms of core configuration, Xiaomi’s first car will be equipped with one Hesai hybrid solid-state radar AT128 as the main radar, and several Hesai all-solid-state radars as blind-filling radars, which match the self-developed autonomous driving technology announced by Xiaomi.

In addition, Xiaomi will insist on building its own factories and will not acquire other factories and OEM production, which can make production firmly in its own hands, and will not be restricted by third parties, and the investment will be huge.

It is reported that as early as last year, Xiaomi announced that the Xiaomi Auto Headquarters Base will be located in Yizhuang, and will build a vehicle factory with a cumulative annual output of 300,000 vehicles in two phases. The first car will roll off the assembly line and achieve mass production.

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