Hesai Technology Addresses Lidar Products Bug

On February 29, Thursday, there emerged reports stating that while 2024 is a leap year, Hesai – a Shanghai-based leading LiDar solutions provider – did not calculate the leap year issue, causing a firmware bug in Hesai’s products, and that as a result, on February 29, all vehicles using Hesai’s lidar have had their automatic driving functions shut down.

In response, a relevant person from Hesai Technology stated that “Two old L4 mechanical lidars have indeed encountered a software bug today. The cause of the problem has been found, and we have also had in-depth communication with the relevant customers and provided relevant solutions.”

The aforementioned person further stated, “It is expected that the problem will be completely resolved within 24 hours. This issue does not involve the AT128, it does not affect OEM customers, and has no impact on all passenger cars equipped with the AT128 that are on the road.”

Currently, lidar has become a core sensor to achieve advanced automatic driving. Due to its high accuracy and strong 3D modeling capabilities, it continues to receive market attention.

By the end of 2023, Hesai Lidar’s cumulative delivery volume had exceeded 300,000 units. Its lidar products can be applied not only to autonomous driving and intelligent driving vehicles but also to the field of robots. Its customers include automobile manufacturers, autonomous driving companies, and robot companies. Among them, the company has received mass production points from mainstream passenger car manufacturers such as Ideal, Lotus, Changan, and SAIC.

Also today (February 29), Hesai Technology announced a strategic cooperation with Great Wall Motors. Reporters from the “Science and Technology Innovation Board Daily” learned that several new passenger car models under Great Wall Motors will be equipped with various ADAS lidar from Hesai, and are expected to be launched consecutively this year. In addition, the two parties also plan to cooperate on ultra-high-performance lidar technology based on Hesai’s new generation platform.

In terms of performance, according to the 2023 fourth quarter and annual performance forecast disclosed by Hesai earlier, based on preliminary statistics, the company’s unaudited revenue for the fourth quarter of 2023 is expected to exceed the previous guidance range of RMB 535 million to RMB 555 million. The estimated annual revenue for 2023 will exceed RMB 1.8 billion.”Hesai Tech Addresses Lidar Bug, Announces Cooperation with Great Wall Motors”

It is reported that Hesai Technology is expected to announce its unaudited financial results for the fourth quarter and the full year of 2023 in March this year.

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