11:02 AM EDT, 07/18/2024 (MT Newswires) -- Hesai Technology (HSAI) said Thursday it will be the exclusive long-range lidar supplier for Baidu's ( BIDU ) Yichi 06 robotaxi platform.

Based on Baidu's ( BIDU ) intentions to deploy 100,000 robotaxi vehicles in China, the deal is estimated to be worth $200 million to $300 million, Hesai ( HSAI ) said, citing industry analysts.

Hesai ( HSAI ) shares were down about 1.1% in recent trading, while Baidu ( BIDU ) fell 0.4%.

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