PALO ALTO, Calif. - Hesai Technology (NASDAQ:HSAI), known for its lidar solutions, announced the release of its ATX lidar, an advanced sensor designed for the automotive industry, particularly for vehicles with Advanced Driver Assistance Systems (ADAS). The ATX model boasts a longer detection range, higher resolution, and an ultra-wide field of view (FOV).
The ATX is built on Hesai's 4th-generation technology platform, which enhances its laser transceiver module while reducing its size. CEO David Li expressed confidence in ATX's impact on the lidar market, noting its potential to make safety a standard feature in intelligent vehicles.
The new lidar sensor is 60% smaller by volume compared to its predecessor, the AT128, and nearly half the weight. It has a minimum surface window of only 25 mm tall and operates on a low 8 W power consumption. Due to its compact size and energy efficiency, the ATX can be integrated into various positions on a vehicle, such as the roof, windshield, or headlights.
With a maximum detection range of 300 meters and a 140° horizontal FOV, the ATX provides extensive visibility of the road environment, including other vehicles and pedestrians. It can also identify and mark environmental conditions like rain, fog, exhaust fumes, and water droplets in real time while filtering out over 99% of the noise.
Hesai has shipped over 300,000 units of the AT128 to date and anticipates that large-scale mass production of the ATX will commence in the first quarter of 2025. The company has already secured design wins and nominations from leading global automotive OEMs.
The introduction of the ATX is expected to enhance the driving experience by offering a safer and more intelligent driving experience for consumers.
This announcement is based on a press release statement from Hesai Technology.
InvestingPro Insights
As Hesai Technology (NASDAQ:HSAI) gears up for the mass production of its advanced ATX lidar sensor, the company's financial health and market performance offer a mixed picture. With a market capitalization of $498.37 million, Hesai's valuation reflects its status as a significant player in the lidar technology sector. The company's commitment to innovation is evident in the release of the ATX model, which is expected to contribute to its sales growth, a factor that analysts are positive about.
InvestingPro Tips highlight that Hesai holds more cash than debt on its balance sheet, suggesting a stable financial position that could support its ambitious production and sales targets for the ATX lidar. With analysts anticipating sales growth in the current year, there appears to be optimism surrounding the company's revenue prospects.
Despite these positive indicators, HSAI's stock has taken a significant hit, with a one-week total price return of -11.09% and a one-month total price return of -15.71%. The stock's price volatility is also noteworthy, with a P/E ratio of -7.58, indicating that the market currently values the company's earnings negatively. This could be due to the company not being profitable over the last twelve months, a concern for potential investors.
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As Hesai Technology pushes forward with its latest lidar technology, investors and industry watchers will be keeping a close eye on how these strategic moves play out in the company's financials and market performance. With the ATX set to hit the market in the coming years, the potential for growth remains a key point of interest.
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