Prnewswire·2024-07-18 12:00Core Insights - Hesai Technology has been selected by Baidu as the exclusive long-range lidar supplier for its next-generation robotaxi platform Yichi 06, marking a significant partnership in the autonomous vehicle sector [1] - The lidar deal is estimated to be worth between $200 million and $300 million, based on Baidu's plans to deploy 100,000 robotaxi vehicles in China, indicating a major market opportunity [1][2] - The Chinese robotaxi market is projected to exceed $162.6 billion by 2025 and $403.6 billion by 2030, highlighting the growing demand for lidar technology as autonomous vehicle companies seek improved sensor performance [2] Company Performance - Hesai dominated the global robotaxi lidar market in 2023 with a 74% market share of the current $124 million market, showcasing its strong position in the industry [3] - The total lidar shipment volume from Hesai has surpassed 380,000 units as of Q1 2024, reflecting the company's robust production capabilities [3] - Hesai's lidar technology is utilized by nine out of the top ten L4 autonomous driving companies globally, including major players like Zoox, NVIDIA, and Nuro, indicating widespread adoption of its products [3] Product Development - Baidu's sixth-generation Apollo Go robotaxis, which are set to be deployed this year, have seen a 60% reduction in cost compared to the previous generation, now priced around $28,500, making them more accessible [2] - Hesai's lidar products are designed for a variety of applications, including advanced driver assistance systems (ADAS) and autonomous vehicle fleets, as well as robotics applications [4] - The company has established a strong global presence, serving customers in over 40 countries and facilitating collaboration to enhance the safety and reliability of intelligent driving [3][4]