Hesai Technology
| Company type | Public |
|---|---|
| Industry | Technology, Lidar sensors |
| Founded | 2014 |
| Headquarters | Shanghai , China |
Area served | Global |
| Products | Lidar sensor systems |
Hesai Technology (Hesai; ) is a Chinese technology firm publicly traded in the United States, focusing on the design and commercialization of lidar sensor systems. Its offerings cater to industries including ADAS, autonomous driving, robotics, and various industrial applications.
History
Upon its establishment, Hesai entered the expanding lidar sector, which was then dominated by high-priced devices costing as much as US$80,000. By introducing comparable lidar sensors priced around US$40,000, Hesai successfully captured a significant portion of the market.
The company gained a competitive edge domestically by delivering more rapid after-sales support than rivals such as Velodyne Lidar, which did not maintain a warehouse in China. This capability allowed Hesai to complete repairs within two days, compared to Velodyne’s multi-month turnaround, facilitating a 2018 agreement with Baidu for its autonomous taxi fleet.
Focusing on autonomous vehicle applications, Hesai released its first-generation lidar sensor in 2021, followed by a second-generation model in 2022. Key clients encompass Li Auto—its largest customer—as well as Lotus Cars, Changan Automobile, SAIC Motor, FAW Group, Nio, and XPeng.
On February 9, 2023, Hesai conducted its initial public offering on the Nasdaq, raising US$190 million. This marked the most substantial Chinese IPO in the U.S. since DiDi’s 2021 listing and resulted in an 11% price increase on its opening day. The U.S. stock market debut was intended to enhance its international visibility.
By 2023, Hesai dominated approximately 73% of the robotaxi lidar segment, supplying prominent companies such as Cruise, Aurora Innovation, Apolong, DiDi, and Pony.ai. In April 2024, the company explored plans to establish production facilities in Europe to better serve the local lidar demand.
Its main competitor in the Chinese market remains RoboSense.
Regulatory scrutiny arose following a May 2023 Congressional Research Service report alleging connections between Hesai and the Chinese military. Subsequently, in January 2024, the U.S. Department of Defense (DOD) designated Hesai as a "Chinese military company." Hesai challenged this classification legally, citing procedural deficiencies and lack of evidence. The DOD removed Hesai from the list in August 2024 but reinstated it in October based on updated findings. The company continues to contest this status through legal channels and appealed a federal court decision affirming the DOD’s designation in July 2025.