Hesai selected by Baidu as exclusive long-range lidar provider

Hesai (HSAI) has been selected by Baidu (BIDU) to be the exclusive long-range lidar supplier for its next-generation robotaxi platform Yichi 06. According to industry analysts, this lidar deal is worth an estimated $200M-$300M based on Baidu’s plans to deploy 100,000 robotaxi vehicles in China. It’s expected to be the first widespread application of robotaxi in the Chinese market. The sixth generation of Baidu’s robotaxi is undergoing road testing in Wuhan. Hesai’s total lidar shipment volume has exceeded 380,000 units as of the first quarter of this year.