Mercedes-Benz (MBGYY) will develop smart driving cars for global markets equipped with Hesai’s (HSAI) lidar sensors, a person with direct knowledge said, the first time a foreign automaker has sought to use such Chinese-made technology for models sold outside China, according to Reuters. It coincides with an increase in trade tensions as the U.S. intensifies efforts to restrict the adoption of Chinese components and software solutions in vehicles developed by global automakers. Shares of U.S.-listed Hesai have jumped over 38% to $22.17 in Tuesday afternoon trading.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MBGYY:
- Zeekr set to take on BMW, Mercedes in China’s SUV segment, SCMP says
- Trump Trade: EO draft calls for elimination of Education Department
- White House confirms one-month exemption from tariffs for autos in USMCA
- Trump weighs one month delay for auto tariffs, Bloomberg reports
- Trump considering possible Canada, Mexico tariff relief, Reuters reports