US Stock Market Move | Company Responds that Halving the Price of Laser Radar Will Not Lower Profit Margin, HeSai (HSAI.US) Up Over 9% in Pre-market Trading

On Tuesday, Hesai Group (HSAI.US) saw its stock price rise more than 9% in pre-market trading, reaching $14.91. In terms of news, Hesai Group Sponsored ADR previously announced that it would halve the price of its LiDAR technology by 2025. In response to this, a Hesai Group Sponsored ADR spokesperson recently stated that the price reduction is contingent on achieving mass production with an ATX selling price below $200. The price reduction will not lower Hesai Group Sponsored ADR's profit margin, but rather stimulate the growth of LiDAR demand and open up a larger market.