07:08 AM EST, 11/27/2024 (MT Newswires) -- Hesai Group ( HSAI ) plans to halve the price of its main lidar product next year to boost its appeal and expand its use in electric vehicles, Reuters reported Wednesday, citing an interview with Hesai Group ( HSAI ) Chief Executive David Li.

The price cut would put Hesai's ( HSAI ) ATX lidar product, which is used in advanced driver assistance systems, below $200, half the price of the current AT128 model, the report said.

Li said the company plans to use self-developed chips and improve factory operations to reduce the product's price, Reuters reported.

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