Lidar Tech Company Hesai Wins Contract To Provide Sensors For A Global OEM
Portfolio Pulse from Shivani Kumaresan
Hesai Technology (NASDAQ:HSAI), a lidar technology company, has secured a contract to supply its AT128 long-range lidar sensors for a new flagship electric vehicle model from a global OEM. The sensors will be integrated into the vehicle's Advanced Driver Assistance Systems (ADAS). Hesai plans to disclose more details in the future. The company has already won contracts for over 50 ADAS series production EV models from 15 major OEMs and Tier-1 suppliers. HSAI's stock price rose by 3.09% to $8.18 following the announcement.
January 05, 2024 | 4:07 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Hesai Technology has won a significant contract to supply lidar sensors for a global OEM's new electric vehicle, which is expected to positively impact investor sentiment and the company's stock price.
The announcement of a new contract with a global OEM for Hesai Technology is a strong positive signal for the company's growth prospects and market penetration in the EV sector. The contract for their AT128 lidar sensor, which is part of a series of wins, demonstrates the company's competitive strength in the industry. The immediate positive reaction in stock price reflects investor optimism, and this momentum could continue in the short term as the market digests the news of the contract win.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100