Hesai Technology to cut prices of main lidar products by 50% next year.

Hesai Technology, a leading provider of lidar technology, has announced plans to reduce the price of its main lidar products by 50% next year in order to drive wider adoption in the electric vehicle sector. CEO Li Yifan stated that this move will make lidar technology more accessible, even for lower-priced electric vehicles. This announcement comes as the company reported a strong financial performance for the third quarter of 2024, with a revenue of 540 million RMB, a 21.1% year-on-year increase. Hesai Technology also saw a significant increase in the delivery of lidar units, with a 182.9% year-on-year increase to 134,208 units. The delivery volume of ADAS products, in particular, saw a 220.0% year-on-year increase to 129,913 units. The company attributes its success to a positive cost and scale cycle, as well as revenue from development services, resulting in a comprehensive gross margin of 47.7% for the quarter. Hesai Technology’s decision to lower lidar prices reflects its commitment to driving innovation and growth in the electric vehicle industry, paving the way for wider adoption of advanced technologies in the automotive sector.

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