Beijing (ZXZC)- Chinese LiDAR maker, Hesai Technology, officially inaugurated its European office in Stuttgart, Germany on May 11. This move is aimed at expanding Hesai's presence in the European market and accelerating its global strategic layout.

German office; photo credit: Hesai Technology

Stuttgart is home to over 2,000 automotive industry companies. It houses the headquarters of top-tier automakers such as Daimler and Porsche, as well as renowned international Tier 1 suppliers like ZF and Bosch. Additionally, more than 20 universities, research institutes, and development organizations specializing in the automotive industry provide a vast talent pool for the region.

By establishing its European office in Stuttgart, Hesai will leverage the local industrial advantages and ecosystem resources in automotive and component manufacturing. The company has already obtained the highest level (AL3) TISAX assessment label this year, meeting the stringent access requirements of the European automotive supply chain and providing secure and reliable services to European automakers.

Hesai Technology has adhered to a global strategy and established an office in Silicon Valley, Palo Alto, USA since its inception. With its high-performance, reliable, and cost-effective LiDAR products, as well as large-scale production capabilities, Hesai has expanded its business to more than 90 cities of over 40 countries

The overseas market is also a significant source of revenue for Hesai, with rapid business growth in recent years. According to Hesai Technology's 2022 financial report, its overseas market revenue in the past three years reached nearly 1.187 billion yuan, accounting for over half of the company's total revenue, with a growth rate exceeding 100%.