On May 20th, Chinese LiDAR supplier Hesai Technology announced that it has become a strategic partner for Mercedes Benz's LiDAR and has been confirmed as the supplier for its L3 level autonomous driving models.
The new supply agreement signed this time will fully support Mercedes Benz's vehicle projects in the European and Chinese markets, and the required production capacity will be firmly guaranteed by the newly completed "Galileo" manufacturing center in Thailand by Hesai.
This is the first time that Chinese LiDAR companies have entered the L3 level autonomous driving supply chain system of traditional luxury car companies, which is of milestone significance.
At the same time, Hesai Technology also released its Q1 2026 financial report, which can be said to have delivered an extremely impressive report card:
Revenue of 680 million yuan, a year-on-year increase of about 30%, with significant year-on-year growth for 8 consecutive quarters; Net profit of 18.3 million yuan, turning losses into profits year-on-year, and achieving GAAP profitability for four consecutive quarters.
The total shipment of LiDAR was 471700 units, a year-on-year increase of 140.9%, among which the shipment of ADAS LiDAR was 353000 units, a year-on-year increase of 141.9%.
