Hesai Group (NASDAQ: HSAI) made a significant announcement today regarding its partnership with a Toyota joint venture brand in China. The collaboration will involve supplying LiDAR technology for the automaker’s new energy vehicle (NEV) models, which are set to enter mass production in 2026. This development marks a major milestone for Hesai, solidifying its position as China’s leading LiDAR manufacturer.
Although the specific name of the joint venture brand was not disclosed, Hesai emphasized that its advanced ATX LiDAR will be integrated into the NEV models. The compact and long-range LiDAR sensor is equipped with cutting-edge fourth-generation chip architecture technology and upgraded laser transceiver modules, ensuring high performance in a compact form factor.
The decision to equip the Toyota joint venture’s NEV models with Hesai’s LiDAR technology underscores the automaker’s commitment to smart driving solutions and local research and development initiatives. Hesai expressed pride in being recognized for its competitiveness in the LiDAR field by a globally renowned automaker, marking the beginning of a new chapter in its collaboration with Japanese automotive companies.
The ATX LiDAR sensor has already garnered significant interest from leading automakers, with several companies placing orders for the sensor as standard equipment for their upcoming mass-produced models in 2025-2026. This widespread adoption highlights the industry’s growing reliance on LiDAR technology for advanced driver assistance systems (ADAS) and other applications.
In addition to the partnership with the Toyota joint venture, Hesai reported strong financial performance in the second quarter of 2025. The company achieved revenue of RMB 710 million ($98.9 million), representing a year-on-year increase of over 50%. Net income exceeded RMB 40 million, reflecting the company’s solid growth trajectory.
Furthermore, Hesai’s LiDAR shipments reached 352,095 units in the second quarter, a remarkable year-on-year increase of 306.9%. The majority of these units were designated for automotive ADAS applications, underscoring the growing demand for LiDAR technology in the automotive sector. Additionally, deliveries for the robotics sector witnessed a substantial increase of 743.6% year-on-year, highlighting the diverse applications of Hesai’s LiDAR solutions.
Overall, Hesai’s impressive performance in the first half of 2025, with LiDAR shipments surpassing the full-year figure for 2024, positions the company as a key player in the LiDAR market. With a strong focus on innovation and strategic partnerships, Hesai is poised for continued growth and success in the dynamic automotive and technology industries.
