Li Auto selects Hesai Technology as exclusive LiDAR supplier

Core Insights - Li Auto has chosen Hesai Technology as the exclusive supplier of LiDAR sensors for its next generation assisted driving platform, which includes the L Series, i Series, and MEGA models [1] - The partnership between Li Auto and Hesai, which began in 2021, aims to enhance advanced driver-assistance systems (ADAS) and improve safety in complex driving scenarios [2][3] - As of October 31, Li Auto has delivered over 1.46 million vehicles, indicating strong market performance [2] Group 1: Partnership and Supply Agreement - Hesai's AT series LiDAR has facilitated the mass production of Li Auto's vehicles with advanced driver-assistance capabilities [2] - The expanded agreement solidifies Hesai's role as the exclusive LiDAR supplier for all new Li Auto models starting from May 2025 [1] - Both companies are focused on accelerating the rollout of ADAS to provide safer assisted driving experiences globally [2] Group 2: Hesai Technology's Market Position - Hesai recently produced its 1,000,000th LiDAR unit and was listed on the Hong Kong Stock Exchange, raising approximately HK$4.2 billion ($533 million) for future growth [3] - The company has also expanded its supply deal with a US-based robotaxi company, securing a contract worth over $40 million [3] - Hesai claims to hold the top positions in the automotive LiDAR market, including overall market share, ADAS market share, and Level 4 autonomous driving market share [4]