Autonomous Driving Tech Firm Hesai Takes Pole Position With U.S. IPO Application

Jan. 20, 2023 2:40 AM ETHesai Group (HSAI)
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Summary

  • Hesai Group’s IPO application includes Goldman Sachs, Credit Suisse and Morgan Stanley underwriting their first new U.S. listing by a Chinese company in more than a year.
  • A successful IPO would make the company the world’s largest listed maker of light detection and ranging (LiDAR) technology used in self-driving vehicles.
  • Hesai is losing money, reporting net losses of 245 million yuan in 2021 and 165 million yuan in the first nine months of last year.

Top view of self-driving SUV on the road with sensing graphic pattern retouched

Chesky_W

The one-month window between the western and the lunar new years is usually a dead period for Chinese IPOs, as many candidates choose to make such listings when investors return to work after the two major holidays.

But

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