According to Zhitong Finance APP, Hesai (HSAI.US) share price surged by 36.47% on Tuesday, closing at $13.92. Investors reacted enthusiastically to the company's exclusive Lidar agreements signed with Great Wall Motor and Chongqing Changan Automobile. The Shanghai headquarters of Hesai announced that the two auto manufacturers will soon receive its latest ATX Lidar devices and will become the exclusive long-range Lidar supplier for Chongqing Changan Automobile's smart driving platform. It is expected that in the coming years, the order volume for ATX compact Lidar models will exceed 1.5 million units, providing products for more than ten models under Chongqing Changan Automobile.

It is worth mentioning that Puyin International recently released Research Reports stating that with the development of the New energy Fund Industry, smart driving, as a core application scenario, provides a growth basis for upstream incremental component fields. Lidar, as a high-precision Sensor, plays a key role in the auto perception architecture.

With the reduction in costs and large-scale expansion of Chinese manufacturers, the cost of onboard Lidar is rapidly decreasing, making it more likely to be considered for installation by more auto companies, driving the Industry towards a trillion market space. Puyin International has initiated coverage of Hesai and given a "Buy" rating.