Hesai Group soars on Reuters report of sensor supply deal with Mercedes-Benz

Luminar Technologies

11/03/2025 14:40

** U.S.-listed shares of Chinese lidar sensor maker Hesai Group ZN80y.F, HSAI.O surge 40.5% to $22.5

** Mercedes-Benz MBGn.DE will develop smart driving cars for global markets equipped with Hesai's lidar sensors, Reuters reported, citing a person with direct knowledge

** Lidar uses lasers to produce three-dimensional images of a vehicle's surroundings to help navigation around obstacles

** Hesai is China's largest lidar maker and competes with U.S.-based Luminar LAZR.O

** Stock has nearly tripled in the past 12 months

 (Reporting by Padmanabhan Ananthan)

 ((Padmanabhan.Ananthan@thomsonreuters.com;))