Hesai, SAIC Volkswagen Collaborate to Develop Automotive Lidar Program

MT Newswires Live10-01

Hesai Group (HSAI) said Tuesday it signed a cooperation framework with SAIC Volkswagen to develop an automotive lidar program.

Financial details weren't disclosed.

This collaboration seeks to establish a new ecosystem for the automotive industry by utilizing Hesai's advanced lidar products and technology, the company said.

SAIC Volkswagen Automobile is a joint venture, run by SAIC and Volkswagen Group, according to the company.

Shares of Hesai were down 4.3% in recent trading.

Price: 4.49, Change: -0.20, Percent Change: -4.26

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