Hesai Technology's revenue in the third quarter was 450 million yuan, and 47440 lidars were delivered

On November 14th, according to the unaudited financial data released by Hesai Technology for the third quarter of 2023, the company achieved a revenue of 450 million yuan in the third quarter, a year-on-year increase of 33.5%

On November 14th, according to the unaudited financial data released by Hesai Technology for the third quarter of 2023, the company achieved a revenue of 450 million yuan in the third quarter, a year-on-year increase of 33.5%.

In the third quarter, Hesai Technology delivered 47440 LiDARs, a year-on-year increase of 125.5%, with ADAS LiDAR delivering 40593 units. The total delivery volume of LiDAR in the first three quarters of 2023 was 134380 units, a year-on-year increase of 307.9%; The delivery volume of ADAS LiDAR reached 114482 units, a year-on-year increase of 516.6%.

It is reported that in the third quarter, Hesai Technology obtained the designated production point for FAW Hongqi's new model in the ADAS front-end production business. The next generation flagship pure electric model of Hongqi brand will take the lead in adopting Hesai Racing's ultra-thin long-range LiDAR ET25, jointly creating the world's first in cabin LiDAR intelligent driving solution. At the same time, Hesai Technology has reached exclusive partnerships with Great Wall Motors, Zero Run Motors, and Nezha Motors. Multiple new models will be equipped with Hesai Ultra High Definition Long Range Lidar AT128, which is expected to be launched from 2024 to 2025.

Hesai Technology stated that as of now, the company has established front-end mass production partnerships with 14 mainstream OEM and Tier-1 customers, and has obtained more than 50 laser radar mass production targets for vehicle models. In terms of international ADAS business, we are also negotiating cooperation with six leading OEMs in North America and Europe, and have made phased progress.

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