Hesai secures $40m LiDAR supply deal with US robotaxi firm

Core Insights - Hesai Technology has expanded its production agreement with a US-based robotaxi firm, valued at over $40 million, ensuring product deliveries until the end of 2026 [1][3] - The robotaxi industry is experiencing significant growth, driven by advancements in Level 4 (L4) autonomous driving technology, with LiDAR systems being essential for safe navigation in urban environments [2][3] - Hesai holds a dominant position in the global market for L4 autonomous driving LiDARs, commanding a 61% market share [3] Company Developments - Hesai will supply both long-range and short-range LiDARs to the unnamed US robotaxi firm, highlighting the company's capability to support the deployment of robotaxi fleets [1][4] - Recently, Hesai secured an order from Motional, becoming the sole provider of short-range LiDARs for Motional's all-electric Ioniq 5 robotaxi [4] - In addition, Hesai announced a partnership with Toyota for a new energy vehicle model, featuring Hesai's long-range automotive LiDAR ATX, with mass production expected to start in 2026 [5] - Mercedes-Benz has also announced plans to integrate Hesai's LiDAR sensors into its smart driving vehicles for the global market [5]