Hesai Technology plans to lower lidar prices to boost electric vehicle adoption

China's Hesai Group, the world's largest maker of lidar sensors for autonomous driving, announced plans to halve the price of its main product next year, further promoting the widespread use of the technology in electric vehicles. "We are moving towards the stage of selling millions of cars equipped with lidar every year," Chief Executive Officer Li Yifan said in an interview, adding that halving the price would make the use of lidar attractive even for cheap electric vehicles priced below 150,000 yuan ($20,000).