Hesai Technology (HSAI) said Thursday it will be the exclusive long-range lidar supplier for Baidu's (BIDU) Yichi 06 robotaxi platform.
Based on Baidu's intentions to deploy 100,000 robotaxi vehicles in China, the deal is estimated to be worth $200 million to $300 million, Hesai said, citing industry analysts.
Hesai shares were down about 1.1% in recent trading, while Baidu fell 0.4%.
Price: 4.54, Change: -0.05, Percent Change: -1.09
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments