In the news release, Hesai Announces Design Wins with Three Top
Global Automakers JV Brands, issued 30-Jul-2024 by Hesai Technology over PR Newswire,
we are advised by the company that the 1st paragraph should read
"Hesai Technology (Nasdaq: HSAI), the global leader in lidar
solutions, today announced automotive lidar design wins with three
leading global OEM's joint ventures (JV) in China. The ventures include two U.S.
automotive companies and one European automotive brand." rather
than "Hesai Technology (Nasdaq: HSAI), the global leader in lidar
solutions, announced today three automotive lidar design wins with
top global automakers' joint ventures (JV) in China: General Motors (GM), Ford and a
prominent European automotive brand."; the 2nd paragraph, 1st
sentence, should read "These joint venture companies plan to
integrate Hesai's automotive-grade, long-range lidar in their
next-generation series production vehicles in the China market to advance the development and
adoption of intelligent driving. " rather than "These global OEM
JVs plan to integrate Hesai's automotive-grade, long-range lidar in
their next-generation series production vehicles to advance the
development and adoption of intelligent driving."; and the 3rd
paragraph, 1st sentence, should read ""We are thrilled to partner
with these prestigious customers as they integrate advanced safety
technology into their vehicles," said David
Li, CEO & Co-Founder of Hesai." rather than ""We are
thrilled to partner with these prestigious global OEMs as they
integrate advanced safety technology into their vehicles," said
David Li, CEO & Co-Founder of
Hesai." as originally issued inadvertently. The complete, corrected
release follows:
Hesai Announces Design Wins with Three Top Global Automakers JV
Brands
PALO
ALTO, Calif., July 31,
2024 /PRNewswire/ -- Hesai Technology (Nasdaq:
HSAI), the global leader in lidar solutions, today announced
automotive lidar design wins with three leading global OEM's joint
ventures (JV) in China. The
ventures include two U.S. automotive companies and one European
automotive brand.
These joint venture companies plan to
integrate Hesai's automotive-grade, long-range lidar in their
next-generation series production vehicles in the China market to advance the development and
adoption of intelligent driving. Mass production of these models is
expected to begin as early as 2025.
"We are thrilled to partner with these
prestigious customers as they integrate advanced safety technology
into their vehicles," said David Li,
CEO & Co-Founder of Hesai. "This is just the start of our
large-scale implementation of lidar in popular vehicle models to
enhance safety, save lives and create a more intelligent global
transportation system."
Building on this momentum, Hesai has secured ADAS design wins
with 18 OEMs and Tier 1 suppliers globally, covering
approximately 70 vehicle models as of Q1 2024.The
companyalso holds mass production agreements with six of the top
ten Fortune 500 automakers directly or through entities in
their group, maintaining the highest global market share in the
automotive lidar industry.
Hesai has already established a strong global business presence
in the U.S., Europe and
Asia, with customers spanning over
40 countries. By extending support and engineering resources across
the globe, Hesai facilitates close collaboration with customers.
The company will continue to collaborate with global OEMs to
integrate advanced lidar technology into new vehicles, bringing
higher quality and more intelligent driving solutions to consumers
around the world.
View original
content:https://www.prnewswire.com/news-releases/hesai-announces-design-wins-with-three-top-global-automakers-jv-brands-302209698.html
SOURCE Hesai Technology