HESAI’s Maxwell Intelligent Manufacturing Center nears completion in Jiading district

Shanghai (Gasgoo)- The construction of the Hesai Technology ("HESAI")'s Maxwell Intelligent Manufacturing Center project in Jiading Industrial Zone has reached its final stages, according to an update from the WeChat account of Jiading district's government. The interior decoration of the R&D and production building is nearly complete, with the aim of becoming operational before the end of the year.

Situated at the core area of Jiading Industrial Zone's northern sector, the HESAI Maxwell Intelligent Manufacturing Center celebrated its foundation ceremony on May 28, 2021.

Photo credit: "Shanghai Jiading" WeChat account

This manufacturing hub boasts an investment of over one billion yuan, spanning an area of approximately 40 mu (26,700 square meters) with a total floor area of 69,300 square meters. The complex encompasses a R&D and production building, auxiliary facilities, landscaped green areas, outdoor adjunct projects, and supporting road infrastructure. Notably, the center is tasked with functions such as research, production, and vehicle standard testing of LiDAR (Light Detection and Ranging) technology. It plans to deploy cutting-edge intelligent manufacturing techniques and a significant number of industrial robots to achieve an automation rate exceeding 90% for over 100 production processes.

Public records reveal that HESAI, as a leading Chinese developer of autonomous vehicle sensor technology, has secured production contracts with eleven prominent automakers and aims to commence deliveries for six of them by the end of 2023. In the first quarter of this year, HESAI achieved a quarterly revenue of 430 million yuan, reflecting a remarkable 73.0% year-on-year growth. During the same period, the company delivered 34,834 LiDAR units, representing a staggering 402.9% year-on-year increase.

In another significant achievement, HESAI successfully debuted on the NASDAQ stock exchange on February 9th, raising $190 million through its initial public offering (IPO).