HK Stock Market Move | ROBOSENSE(02498) up nearly 15% at opening, Mercedes global sales models will adopt Chinese laser radar technology

ROBOSENSE (02498) opened nearly 15% higher, and as of the time of writing, it is up 14.9% at HK$49.35, with a turnover of HK$127 million. According to Caixin, Mercedes-Benz plans to develop intelligent driving cars for the global market, equipped with Velodyne Lidar sensors. This will be the first time a foreign car manufacturer has used Chinese-made Lidar technology in global sales models. Boosted by this news, Velodyne Lidar surged 50.41% in the US stock market on Tuesday. Sinolink released a research report stating that there is huge development potential for Lidar in the automotive and Siasun Robot & Automation markets. It is reported that Lidar supplied by ROBOSENSE will account for 80% of the high-end solutions in BYD Company Limited. As of November 29, 2024, ROBOSENSE has obtained volume production orders for 92 models from 28 car manufacturers and top-tier suppliers. In addition, ROBOSENSE mentioned that the Siasun Robot & Automation model H1 displayed at the Spring Festival Gala is equipped with its self-developed Lidar Helios.