Following the announcement that its state-of-the-art lidar technology would be included into Apollo Go’s driverless fleet as part of its expansion into Dubai, shares of Hesai Group (NASDAQ: HSAI) are seeing a notable increase. When the last market check was conducted, HSAI’s stock was up 16.08% to $17.18.
Strategic Expansion into Dubai
This milestone speeds up the implementation of cutting-edge autonomous transportation systems worldwide. The exclusive contract that Hesai and Baidu Apollo inked in July 2024 is directly responsible for this development. By increasing the Apollo Go fleet to 1,000 cars, the expansion will demonstrate the dependability and superior performance of HSAI’s lidar systems in supporting Level 4 (L4) autonomous driving in challenging urban settings.
The effectiveness of Apollo Go’s technology has been further validated by the notable 60% decrease in operating expenses that the RT6 robotaxis has shown when compared to earlier models.
Leading the Way in Autonomous Mobility’s Future
Leading autonomous car platforms throughout the world now favor Hesai’s lidar technology. For safe navigation in crowded urban settings, its sensors—which are well-known for their remarkable resolution, range, and dependability—are crucial. The business’s collaboration with Apollo Go in Dubai enhances HSAI’s standing as a powerful player in the autonomous mobility sector and marks a substantial breakthrough in the global uptake of driverless technologies.
Apollo Go’s arrival in Dubai creates new international markets for next-generation mobility solutions and demonstrates the growing economic viability of L4 autonomous driving.
Strengthening Market Position With Exclusive Partnership
In addition to its collaboration with Baidu Apollo, Hesai Technology has recently secured an exclusive series production agreement with Chery Automobile’s new energy brand, iCAR for its advanced ATX Lidar integration.
Hesai’s designation as the exclusive lidar provider for iCAR’s upcoming models signifies a major achievement in the company’s mission to make intelligent driving technology more accessible. To date, HSAI has secured design agreements with 22 automotive original equipment manufacturers (OEMs) for over 120 vehicle models worldwide.