Wesai Technology's revenue of 450 million yuan in the third quarter increased by 33.5% over the same period last year, and 47440 lidar units were delivered.

According to CTOnews.com news on November 14, Wesai Technology released unaudited financial data for the third quarter of 2023, with revenue of 450 million yuan, an increase of 33.5 percent over the same period last year, and positive operating cash flow for three consecutive quarters, reaching 47.6 million yuan. Revenue in the first three quarters reached 1.32 billion yuan, an increase of 65.8 percent over the same period last year.

CTOnews.com noted that Hesai's lidar delivery volume in the third quarter was 47440, an increase of 125.5% over the same period last year, of which ADAS lidar delivery was 40593, an increase of 143.2%.

At the same time, the total delivery volume of lidar in the first three quarters of 2023 was 134380, an increase of 307.9% over the same period last year, of which the delivery of ADAS lidar reached 114482, an increase of 516.6% over the same period last year.

It is understood that Wesai has reached an exclusive partnership with Great Wall Motor, Zero running Motor and Naga Automobile, and many of its new models will be equipped with Hesai Ultra HD long-range lidar AT128, which is expected to land in 2024-25.

Up to now, Hesai has established pre-loading production cooperation with 14 mainstream OEM and Tier-1 customers, and has accumulated more than 50 models of laser radar production fixed points.

In the international ADAS business, Hesai is also in cooperation with six head OEM companies in North America and Europe, and has made phased progress.