Lidar Maker Hesai Sees Device Becoming as Common as Airbags

China’s Hesai Group, the world’s largest maker of lidar sensors used in driver assistance systems, is on a growth trajectory that won’t be stopped by geopolitics, according to Chief Executive Officer David Li.

The Nasdaq-listed company’s shares surged a record 44% in New York trading on Tuesday after it reported a 21% jump in third-quarter revenue to $76.9 million and forecast further growth to $100 million this quarter. Shipments more than doubled from a year earlier, and Li said that growth will continue, with deliveries expected to rise to 1 million units in 2025.