The construction of the facility will begin later this year, with production starting in late 2026, according to CFO Andrew Fan.
China’s
Hesai Group
The global leader in automotive lidar sensor production intends to launch its initial facility beyond the mainland in Southeast Asia in the coming year.
Andrew Fan, the chief financial officer, stated on Wednesday that the Shanghai-based firm has recently secured a land lease for the facility. Construction is scheduled to begin later this year, with manufacturing expected to commence around late 2026. No further specifics were provided.
The facility will provide light detection and ranging sensors—utilizing laser beams to gauge distances to objects—to global brands that develop and construct intelligent vehicles, he mentioned.
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Starting from late 2026 or early 2027, Hesai plans to utilize the facility in Southeast Asia to cater to several of our international customers,” Fan stated. “Establishing facilities abroad is part of our global expansion plan.
Following Hesai’s report of a 46.3 percent increase in their first-quarter revenue to 530 million yuan (approximately US$73.6 million) on Tuesday, along with a reduced net loss of 84 percent down to 17.5 million yuan, the company made an announcement.
Fan stated that the firm anticipates an annual profit ranging from 200 million to 350 million yuan due to the increased demand.
lidar sensors
By creators of smart cars and robots.
Hesai — whose clientele encompasses Li Auto, the top producer of luxury electric vehicles in China, as well as Geely, which owns Volvo Cars — plans to supply 1.5 million units to customers this year, he mentioned.
Last month, CEO David Li Yifan announced that the firm plans to quadruple its production capacity this year to reach 2 million units, up from approximately 502,000 units expected in 2024.
Fan stated that an increasing electric vehicle pricing competition on the mainland would likely have little effect on Hesai’s income.
Fan stated, “We strongly hold the view that as people become increasingly conscious of safety issues and automotive technologies advance swiftly towards greater autonomy, this will lead to an increased requirement for lidar sensors. Automotive manufacturers and buyers alike require dependable components and systems to maintain road safety. Saving expenses on advanced driver-assistance features is not something they would consider.”
The firm additionally intends to establish manufacturing plants in Europe, where Hesai has joined forces with multiple leading automotive companies to create sophisticated driver assistance technologies.
an initial tech solution for self-driving cars
.
In March, Hesai revealed that their technology will be utilized in the upcoming vehicles from a prominent European manufacturer for the next ten years. According to Reuters, this company is Mercedes-Benz. This marked the first instance where a significant European automaker chose a Chinese LiDAR provider.
Hesai’s international growth is the most recent instance of Chinese automotive suppliers demonstrating their advanced capabilities in technology and production.
Chinese automotive component manufacturers, including EV battery suppliers such as Contemporary Amperex Technology, have been growing steadily.
CATL
) was greeted warmly by established markets such as Europe for setting up factories, analysts noted.
Paul Gong, who leads China automotive research at UBS, stated, “Chinese technology is quickly expanding within the worldwide automobile market, and this trend is becoming increasingly evident.” He further explained, “The growth of the Chinese automotive industry isn’t just seen through domestically branded vehicles; it’s also notable in how it impacts international automakers as they shift towards electric vehicles and smart transportation solutions.”
On May 20, CATL concluded the biggest equity fundraising globally for the year so far, securing HK$41 billion (US$5.23 billion). Its listing in Hong Kong saw its share price jump by 16.4 percent on the first day of trading.
The firm stated that it would utilize the funds to build facilities abroad.
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The article initially appeared on the South ChinaMorning Post (www.scmp.com), which is the premier source for news coverage of China andAsia.
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