Hesai Secures Design Wins for Multiple Chery Models, Mass Production to Begin This Year

Company Overview - Hesai Technology has secured design wins for multiple Chery Automobile models, which are expected to enter mass production in the second half of 2025, featuring Hesai's latest ultra-compact high-performance ATX lidar [1] - As of December 2024, Hesai has achieved over 100 design wins across 21 automotive OEMs, including notable companies like Chery, Great Wall Motors, and Changan [3] - Hesai's planned annual production capacity for 2025 is expected to exceed 2 million units, bolstered by its mass production capabilities and R&D innovations [4] Industry Performance - Chery Automobile reported a 38% increase in global car sales year-over-year, selling 2.6 million vehicles in 2024, with a forecast of over 3 million deliveries in 2025 [2] - Chery is the leading exporter of Chinese-brand passenger vehicles, with total exports in 2024 exceeding 1.14 million vehicles, marking a 21.4% year-on-year increase [2] Product Development - The ATX lidar, released in April 2024, offers powerful performance in a compact form, enabling advanced assisted driving functions and has been selected for mass production by various leading automakers [3]