Core Insights - Hesai Group, a Chinese LiDAR company, has announced a $40 million deal to supply LiDAR sensors to a U.S. Robotaxi company until the end of 2026 [2][3] - The deal reflects the confidence that leading Robotaxi companies have in Hesai's technology, which is noted for its performance, reliability, and scalable manufacturing [3] - The announcement coincides with proposed regulatory changes in the U.S. aimed at easing restrictions on autonomous driving, which could benefit companies in the sector [4] Company Developments - Hesai will provide both short- and long-range LiDAR sensors as part of the new agreement [2] - The company is also developing a new generation of LiDAR systems aimed at enabling Level 3 autonomous driving, expected to launch next year [5] - The new LiDAR system is projected to have double the detection capabilities of its current best-seller, the AT128 [5] Industry Context - The U.S. Transportation Secretary has proposed revisions to the Federal Motor Vehicle Safety Standards to accommodate autonomous vehicles [4] - Companies like Waymo and Tesla are expanding their Robotaxi services in various U.S. cities, indicating a growing market for autonomous driving solutions [4][5] - Waymo has initiated Robotaxi testing at San Jose airport, while Tesla has launched its Robotaxi app, which has gained significant traction on the Apple App Store [5]
Chinese LiDAR Maker Hesai Announces $40 Million Deal With Unnamed US Robotaxi Company Amid Autonomous Push - Tesla (NASDAQ:TSLA)