On May 21st, Hesai Technology released unaudited financial data for the first quarter of 2024, showing that the company achieved a revenue of RMB 360 million in the first quarter; The total delivery volume of LiDAR reached 59101 units, a year-on-year increase of 69.7% (ADAS product delivery volume was 52462 units, a year-on-year increase of 86.1%). The combined gross profit margin of Robotaxi and ADAS businesses is 38.8%.
Recently, Hesai Technology has launched a compact and high-performance long-range LiDAR ATX. It is reported that ATX is expected to start mass production in the first quarter of 2025.
Li Yifan, co-founder and CEO of Hesai Technology, stated that the intelligent automotive industry continues to develop rapidly, with a notable feature being that LiDAR is becoming a standard feature for more and more car models. It is not only widely available in the mid to high end car market, but also penetrating into the consumer market below 150000 yuan. In order to grasp this market trend, Hesai Technology has formulated a dual track strategic development path for ADAS products, namely ultimate performance and ultimate cost. (Tan Rong)