Autonomous Trucks
According to a Frost & Sullivan report, Hesai is the global leader in the autonomous mobility LiDAR market by 2021 with approximately 60% of the global market share. With 2022 revenues of $174.4 million, Hesai has a lot of room to grow as a dominant leader in the lidar space with 2022 market share of 47%. 1 Global Automotive Lidar SupplierAs for valuation, Hesai’s simple valuation ratio clocks in at around seven versus our tech stock catalog average of six and a half. Hesai Group’s GrowthYole claims Hesai captured 47% of the $317 million 2022 automotive lidar market which implies $149 million in sales and further implies that 15% of Hesai’s 2022 revenues were not related to automotive. ConclusionTwo independent sources point to China’s Hesai Group as a lidar leader, though investors need to be wary about investing in Chinese firms that list in the United States using offshore reporting structures.