BIDU - Baidu Selects Hesai as Exclusive Long-Range Lidar Provider for Next-Generation Robotaxis | Benzinga

PALO ALTO, Calif., July 18, 2024 /PRNewswire/ -- Hesai Technology (NASDAQ:HSAI), the global leader in lidar safety technology for automotive and robotics applications, announced that they have been selected by Baidu, Inc. (NASDAQ:BIDU) to be the exclusive long-range lidar supplier for its next-generation robotaxi platform Yichi 06. Baidu is an internet tech giant who is also one of the world's largest robotaxi service providers.

According to industry analysts, this lidar deal is worth an estimated $200-300 million based on Baidu's plans to deploy 100,000 robotaxi vehicles in China. It's expected to be the first widespread application of robotaxi in the Chinese market.

According to forecasts by Pacific Securities, the Chinese robotaxi market is expected to exceed $162.6 billion, in 2025 and $403.6 billion in 2030, making it one of the largest market opportunities across the autonomous driving landscape. As a result, lidar demand will continue to grow as more autonomous vehicle companies seek better sensor performance, safety and perception.