Hesai's lawsuit comes as Seyond prepares for its Hong Kong listing.
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Category: Hesai
As of this writing, Hesai rose 11 percent to HK$236.2 per share in Hong Kong, with a market capitalization of HK$36 billion.
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This marks Hesai's second LiDAR order announcement from a US company this month.
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Hesai plans to raise up to $500 million in its secondary listing in Hong Kong, with shares set to begin trading on September 16.
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Hesai did not disclose the name of the Toyota joint venture, but said that the automaker's models equipped with its ATX LiDAR will go into mass production in 2026.
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Hesai is the second Chinese company after Pony AI to be reported this month to have confidentially filed for a Hong Kong listing.
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Hesai's ATX LiDAR will be used in multiple production models of Leapmotor from 2025 onwards.
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Hesai will break ground on its first overseas project by the end of this year, targeting production in 2026, according to the Financial Times.
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This is the first time a foreign automaker has sought to apply this Chinese-made technology to models sold outside China, according to Reuters.
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Hesai Technology announced that several Chery-made cars will adopt the ATX LiDAR sensor with a maximum detection range of 300 meters
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