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Hesai Technology (NASDAQ:HSAI) has been named the exclusive lidar supplier for Li Auto’s (NASDAQ:LI) next-generation assisted driving platform. The agreement covers all upcoming models, including the “L” Series, “i” Series, and “MEGA,” marking a major expansion of their long-term collaboration.
The partnership focuses on strengthening Li Auto’s smart driving capabilities through Hesai’s advanced lidar technology. Hesai will continue providing its high-precision perception systems, reinforcing its leadership role in intelligent mobility solutions.
Li Auto, one of China’s leading premium electric vehicle manufacturers, has delivered more than 1.46 million vehicles as of October 31, 2025. Since May, all new Li Auto models have included lidar as standard equipment, underscoring the company’s focus on improving driver safety and vehicle intelligence.
Since partnering in 2021, Hesai and Li Auto have co-developed and mass-produced automotive-grade lidar systems, with Hesai’s AT series enhancing driver-assistance performance across complex road scenarios.
Their renewed agreement aims to accelerate global adoption of advanced driver-assistance systems (ADAS), supporting safer and more efficient transportation.
Hesai reported strong results for the third quarter of 2025. Adjusted earnings per share came in at 28 cents, compared with a loss of 5 cents a year earlier. Revenue reached $111.7 million (795.4 million Chinese yuan), up from $76.9 million in 2024, while net income rose to 256.2 million yuan (about $36 million).
The company shipped 441,398 lidar units, reflecting strong demand from automakers and improved production efficiency. Management said ongoing investment in advanced perception systems and long-term supply deals are positioning Hesai for continued growth as the global market for driver-assistance technologies expands.
Price Action: HSAI shares were trading higher by 1.17% to $23.33 at last check Tuesday.
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