What’s Happening
Hesai Technology, a world leader in lidar solutions, has announced the official opening of its European office in Stuttgart, Germany. This strategic move aims to help the company further penetrate European markets, accelerate business growth, and solidify its position as a key player in the global lidar industry.
Why It Matters
Stuttgart, home to more than 2,000 automotive supply chain companies, serves as the headquarters for many top OEMs and international Tier 1 businesses. The city also houses over 20 universities, research institutions, and development organizations related to the automotive industry, providing a sizable local talent pool. Establishing a European office in Stuttgart allows Hesai to fully utilize local resources in automotive and parts manufacturing, enhancing its competitiveness in European markets.
Key Points
- Hesai already received the highest level of TISAX (Trusted Information Security Assessment Exchange) AL3 evaluation label earlier this year and has passed the rigorous admission requirements of the European automotive supply chain.
- The company’s commitment to a global business strategy is evidenced by its Palo Alto, USA office and its high-performance, reliable, and cost-effective lidar products.
- Hesai has established a global presence, operating in over 40 countries and more than 90 cities, making it a preferred lidar supplier for top global OEMs and autonomous driving firms.
- According to Hesai’s 2022 financial report, net revenues from global markets in the past three years reached 172.1 million USD, accounting for over half of the company’s net revenues, with a growth rate surpassing 100%.
Bottom Line
The opening of Hesai Technology’s European office in Stuttgart marks another significant milestone in the company’s global business strategy. Hesai plans to leverage its technical expertise and product advantages to forge reliable relationships with automotive supply chains worldwide, ultimately providing consumers with a safer and more efficient smart travel experience.
