Hesai performs well in ADAS business

Hesai has performed well in the ADAS business. In 2023, ADAS LiDAR shipments reached 194,900 units, accounting for about 40% of Hesai's total revenue. Hesai expects that in 2024, ADAS product revenue will account for 60%, and ADAS product shipments are expected to reach 600,000 units. Hesai's customers include 16 OEMs and Tier 1 suppliers, with a total of more than 60 models.