The development climate of foreign laser radar market is quite different from that of domestic laser radar manufacturers. According to foreign media reports, China's Hesai Technology plans to apply for an initial public offering (IPO) in the United States next week, and plans to raise about US $150 million (more than 1 billion yuan). Hesai Technology selected Credit Suisse, Goldman Sachs and Morgan Stanley to arrange the US IPO.
In October 2022, Ibeo, known as the ancestor of laser radar, declared bankruptcy; In November, the lidar manufacturers Ouster and Velodyne officially announced their merger; In December, Quanergy, which focuses on OPA (optical phased array) technology, also announced bankruptcy.
Previously, at the beginning of 2021, Hesai Technology submitted an IPO prospectus on the Science and Technology Innovation Board and was accepted by the Shanghai Stock Exchange. According to the prospectus, Hesai Technology plans to raise 2 billion yuan, including 1.2 billion yuan for the intelligent manufacturing center project, 650 million yuan for the laser radar exclusive chip project, and 150 million yuan for the laser radar algorithm research and development project. The IPO meeting procedure was terminated after two months.
In 2021, Hesai ranked the first in the world in terms of total revenue in the automotive sector
Yole Intelligence released the 2022 Laser Radar Application Report in Automotive and Industrial Fields. The report shows that in the next five years, the overall laser radar market will grow at a compound annual growth rate (CAGR) of 22%, and the market size will reach 6.3 billion US dollars by 2027.
At the same time, Chinese laser radar suppliers have accounted for 50% of the global ADAS market. With the gradual establishment of close cooperation between lidar manufacturers and automobile manufacturers, China's smart electric vehicle market is developing rapidly.
Among them, in 2021, Hesai Technology accounted for 58% of the revenue of L4 automatic driving market, ranking first in the world, more than twice the share of Waymo, the second place. From the perspective of the suppliers of front packaging and mass production, Hesai Technology accounts for 27% of the number of front packaging sites in the world, ranking first in the world.
Complete the delivery of the 100000th laser radar
It has been 8 years since its establishment. In December 2022, Hesai Technology has completed the delivery of its 100000th laser radar. Among them, a total of 80000 units will be delivered in 2022.
In April 2017, Hesai provided Baidu with the first Pandar40 to enter the automatic driving market with this high-performance laser radar;
In September 2020, the medium-range laser radar XT32, which carries the first generation of Hesai's self-developed chip, officially began to be delivered to the general robot market, and has delivered nearly 10000 units so far;
In September 2022, the semi-solid laser radar AT128, which carries the second generation of Hesai's self-developed chips and is oriented to the mass production market of ADAS front loading, delivered more than 10000 units per month, and has won the mass production target of 10 mainstream OEM manufacturers for millions of units;
In November 2022, the pure solid state blinding laser radar FT120, which carries the third generation of Hesai's self-developed chip, was officially released and will be delivered in the second half of 2023.
On January 7, Hesai Technology officially announced that it was awarded the fixed point for the mass production project of the front assembly of the new energy vehicle brand Feifan under the SAIC Group. Feifan Automobile is a high-end intelligent pure electric vehicle brand invested and established by SAIC Motor Corporation. The new model of Feifan Automobile will be equipped with a racing car grade UHD laser radar AT128.
It is reported that AT128 is the ADAS main laser radar launched by Hesai Technology for the front-mounted mass production market. At present, it has won millions of fixed points from 10 mainstream mainframe manufacturers. Since the mass production and delivery began in 2022, it has enabled many models to come into the market. At present, the monthly delivery of AT128 has exceeded 20000 units.
At present, Hesai Technology's customers include automatic driving companies, automobile manufacturers, first-tier suppliers, robot companies, etc., covering 40 countries and more than 90 cities around the world. At the same time, the company has accumulated more than US $500 million in financing from institutions including Xiaomi, Meituan, Bosch, Baidu, Speed of Light, Hillhouse, CPE and Qiming.
Source: OFweek
