Nio, XPeng Supplier Hesai Group Announces Next-Gen LiDAR For Level 3 Autonomous Driving

Hesai Group (NASDAQ:HSAI) announced it will introduce a next-generation LiDAR system for Level 3 autonomous driving.

What Happened: According to Reuters, Hesai Group CEO David Li shared on Monday that the company will launch its updated LiDAR system in 2026.

Li says the new system will provide autonomous driving cars with “double” the detection distance of its current best-selling model, the AT128.

No further details or technical specifications were shared following the announcement. Hesai’s customers include several EV companies like Nio Inc. (NYSE:NIO), XPeng Inc. (NYSE:XPEV), as well as Aurora Innovation (NASDAQ:AUR) and Chinese autonomous vehicle company Pony AI (NASDAQ:PONY).

Why It Matters: The news comes in as development of autonomous driving is picking up speed, with companies like Tesla Inc. (NASDAQ:TSLA) and Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Waymo among the biggest players in the segment.

Tesla had recently shared the development of its autonomous driving technology via a post on the social media platform X, showcasing a Model 3 and a Cybertuck utilizing Full-Self Driving (FSD.)

Tesla CEO Elon Musk also made a prediction that a Tesla vehicle would be able to drive to people's houses by itself, ‘this year,' in a post on X. However, it’s worth noting that Musk's company still utilizes a camera-based system for its FSD, unlike Waymo, which opts for a LiDAR system instead.

Price Action: HSAI stock has declined more than 32.11% year-to-date, according to Benzinga Pro data.

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