Hesai Tech Addresses Lidar Bug, Announces Cooperation with Great Wall Motors

On February 29, a leap year anomaly caused a firmware bug in certain Hesai Technology LiDar units, impacting automatic driving functions. Hesai, a Shanghai-based leader in LiDar solutions, quickly identified and addressed the issue, which was confined to two older L4 mechanical lidars. The company also announced a strategic cooperation with Great Wall Motors, highlighting Hesai's prominence in the automotive and robotics sectors.

Swift Response to Firmware Bug

Hesai Technology's prompt action to a leap year-related firmware bug underscores the company's commitment to reliability and customer service. Despite the glitch affecting automatic driving functions in vehicles equipped with two older L4 mechanical lidars, Hesai's quick identification and solution provision minimized potential disruptions. The company assured that the bug does not involve the AT128 model, thereby not affecting OEM customers or passenger cars equipped with this model currently on the road.

Expanding Horizons with Great Wall Motors

In the wake of addressing the firmware issue, Hesai Technology announced a strategic cooperation with Great Wall Motors. This partnership is set to equip several new passenger car models from Great Wall Motors with various ADAS lidar from Hesai, marking a significant milestone in Hesai's expansion and its role in advancing automotive technology. This collaboration, focused on integrating ultra-high-performance lidar technology, emphasizes Hesai's innovation and leadership in the field.

Market Impact and Future Directions

Hesai Technology's resilience in the face of technical challenges and its strategic partnerships reflect its strong market position and potential for future growth. With over 300,000 units of lidar delivered by the end of 2023 and collaborations with leading automotive manufacturers, Hesai is set to continue its trajectory of innovation and market expansion. The anticipated announcement of its unaudited financial results for the fourth quarter and the full year of 2023 in March will further highlight the company's performance and strategic initiatives.