Hesai rides on lidar growth as smart cars gain ground despite China’s struggling market

Chinese carmakers’ reinforced push to produce more smart vehicles could sustain growth for hi-tech component suppliers, even as the broader automotive market remains lacklustre, according to Hesai Group chief financial officer Andrew Fan.

“Orders for our lidar sensors [this year] were higher than in the same period last year,” Fan told the South China Morning Post on Wednesday.

“An increasing percentage of new [car] models are now fitted with lidars as brands make them more intelligent.” Hesai –...