Hesai(US:HSAI) Ju Chao Zi Xun·2026-01-06 02:20Core Insights - Hesai Technology announced plans to double its annual production capacity from 2 million units in 2025 to 4 million units by 2026 in response to the growing demand in the Advanced Driver Assistance Systems (ADAS) and robotics sectors [2] - The company is progressing with the construction of its new factory "Galileo" in Bangkok, Thailand, which is expected to commence production in early 2027, enhancing its global production capacity [2][3] Production and Delivery Achievements - Hesai has achieved significant milestones in the lidar industry, being the first company to exceed an annual production of 1 million units and a cumulative delivery of over 2 million units [2] - The company has experienced a strong growth trend, with annual delivery volumes doubling for five consecutive years, delivering over 1.6 million units in 2025, including approximately 1.4 million ADAS products and over 200,000 robotics products [3] - The ATX product line achieved over 1 million units in its first year of delivery, showcasing the company's competitive market position [3] Technological Advancements - The company's production capabilities are supported by its self-developed fourth-generation ASIC chips, enabling rapid product iteration and high reliability [3] - Hesai's fully automated production line can produce a lidar unit every 10 seconds, providing a solid technical foundation for the planned capacity increase [3] Market Demand and Strategic Positioning - The demand for lidar is expected to surge with the rollout of L3 conditional autonomous driving technology, which requires 3-6 lidar units per vehicle for redundancy [4] - Hesai has secured contracts with leading automotive manufacturers for L3 projects and has achieved 100% standardization for their 2026 model year [4] - The company has received over 4 million orders for its newly released ATX version, with plans to start mass production in April 2026, ensuring capacity utilization for the year [4] Global Market Outlook - The global lidar market is experiencing rapid growth, driven by advancements in L3 and higher-level autonomous driving technologies [4] - Hesai's capacity expansion and global production strategy are expected to reinforce its market leadership and support the development of the global smart driving and robotics industries [4]