Hesai CFO: Lidar Orders Up Despite China's Sluggish Auto Market

Hesai Group, the top global lidar sensor manufacturer, is seeing a rise in orders thanks to Chinese automakers speeding up their adoption of smart driving tech, according to CFO Andrew Fan. In an interview with the South China Morning Post, Fan shared that the orders for lidar sensors this year have surpassed those from last year, driven by the launch of new car models that enhance vehicle intelligence. He expects millions of new cars to come equipped with lidar, which will boost future growth. Fan also aims to shift Hesai’s image from just an automotive supplier to a tech company. The China Passenger Car Association predicts that by 2025, 12% of new cars costing between 150,000 yuan (about $22,300) and 200,000 yuan will use lidars, increasing to 27% by early 2026. This trend continues even in a slow automotive market, underscoring the resilience of high-tech component suppliers as the industry moves towards smart vehicles.