Hesai Group, a leading global manufacturer of lidar sensors for driver assistance systems, has seen significant growth. This is evident from the surge in its Nasdaq-listed shares, which increased by 44% following a strong earnings report.

In the third quarter, the company reported a 21% increase in revenue, reaching $76.9 million. It is projected that the company will continue to grow, with revenue expected to reach $100 million in the current quarter. CEO David Li emphasized that the company's expansion is resilient to geopolitical challenges, with shipments more than doubling compared to the previous year.

Hesai aims to deliver 1 million units by 2025, highlighting its commitment to becoming a widely used technology in vehicles, similar to airbags.