06:40 AM EDT, 08/15/2025 (MT Newswires) -- Hesai ( HSAI ) said Thursday it secured a lidar design slot from Toyota ( TM ) for a new-energy model to be built by a China-based joint venture, with mass production targeted for 2026.

The vehicle will use Hesai's ( HSAI ) long-range ATX lidar, the company said.

ATX has additional design wins across multiple models, with several automakers planning to make it standard in 2025-2026 production, Hesai ( HSAI ) said.

The company also said the firms plan to collaborate on intelligent-driving features for mass-market vehicles, with Hesai ( HSAI ) providing lidar R&D and manufacturing support.

The Toyota ( TM ) joint venture is prioritizing electrified and software-driven vehicles and advanced driver-assistance systems, Hesai ( HSAI ) added.

Shares of Hesai ( HSAI ) were up over 5.4% and Toyota Motors' stock was up almost 1% in recent Friday premarket activity.