Hesai Stock Jumps on 1 Million-Unit Lidar Deal, but There’s a Catch
Hesai Group shares looked set for some swings Friday. The Chinese lidar company’s stock in Hong Kong jumped to HK$166.90 on news of a new order from a European automaker, but premarket action in the U.S. pointed down. Hesai’s American depositary shares were seen at $20.35 ahead of the open, down 2.6% from Thursday’s $20.90 close. Scale is the key factor now. Hesai said its latest design win is for more than 1 million units across over 10 models for China joint ventures with a major European automaker. The company did not name the automaker. Lidar, which uses lasers to map out a 3D view around the car, is a core piece of ADAS—helping vehicles steer, brake, and avoid obstacles.