Smart and Sustainable Electric Mobility
RoboSense's LiDARs have been used in 14 production vehicles, with August sales exceeding 50 percent of last year's total sales.
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In 2022, RoboSense had 953 customers, including Geely, GAC Aion, Great Wall Motor, Xpeng, Lotus and Lucid.
(Image credit: RoboSense)
RoboSense Technology has filed for a Hong Kong IPO and is expected to become the second Chinese LiDAR maker to go public after Hesai Group.
RoboSense's prospectus was made public on the HKEX website today, with JPMorgan and China Renaissances as co-sponsors.
The number of shares RoboSense plans to issue or the amount of capital it plans to raise has not been announced, but the prospectus provides details about its business.
RoboSense was founded in 2014 and its RS-LiDAR-M1 was the world's first mass-produced solid-state LiDAR, with mass production and delivery beginning in June 2021.
In 2022, RS-LiDAR-M1P, an upgraded version of RS-LiDAR-M1, achieves mass production.
Sales of RS-LiDAR-M1 and RS-LiDAR-M1P were 36,600 units and 4,300 units respectively in 2022.
RoboSense demonstrated the new product RS-LiDAR-E1 at its Tech Day event on November 7, 2022, and will begin mass production in the second half of 2023.
As of March 31, RoboSense has received expected orders for 52 models of LiDAR from 21 car companies and Tier 1 suppliers, of which 9 models have already started production, according to its prospectus.
In 2022, RoboSense has 953 customers, including primarily Geely, GAC Aion, Great Wall Motor, Xpeng, Lotus, and Lucid.
Since inception, RoboSense has delivered more than 100,000 LiDARs cumulatively as of the end of the first quarter.
RoboSense's revenues for 2020 to 2022 were RMB171 million ($23.5 million), RMB331 million, and RMB530 million, respectively.
Like many other tech startups, RoboSense is still in the red.
From 2020 to 2022, RoboSense recorded net losses of RMB 220 million, RMB 1.65 billion, and RMB 2.09 billion, respectively.
Its adjusted net losses for these three years were RMB 59.9 million, RMB 108 million, and RMB 563 million, respectively. These adjustments include the exclusion of share-based compensation, changes in the value of financial instruments issued to investors, and listing expenses.
RoboSense entered into a supply partnership with BYD at the end of 2021 and announced on February 6 this year a supply partnership agreement with Toyota to supply LiDARs for a number of the latter's models.
RoboSense is set to become the second Chinese LiDAR maker to go public, after its local counterpart Hesai was listed in the US on February 10.
Hesai, also founded in Shanghai in late 2014, initially focused on developing high-performance laser sensors and has been exploring driverless LiDAR products since 2016.
($1 = RMB 7.2689)
Shanghai auto show: EVs take center stage, nearly 40 models equipped with LiDARs
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There are 38 models equipped with LiDARs, of which BYD-backed RoboSense is the biggest winner, being the supplier of 18 of them.
At the Shanghai auto show two years ago, XPeng's P5 sedan attracted a lot of attention as the world's first LiDAR-equipped production car at the time.
Now, at the latest Shanghai auto show, the number of electric vehicles (EVs) powered by LiDARs has reached dozens, as local EV makers have adopted the component over the past two years to help make vehicles more capable of assisted driving.
The ongoing Shanghai auto show began on April 18 and will run through April 27. EVs are certainly the focus of attention, with traditional fuel vehicles having fallen out of favor, a drastic change from two years ago.
More than 1,500 vehicles are on display at this year's edition of the show, with more than 150 of them making their debut, according to figures released by the event's organizers.
About two-thirds of those debuts were NEVs, including battery electric vehicles and plug-in hybrids.
Dozens of the NEVs at the show use the same new technology -- LiDARs -- despite the vehicles coming from different brands and having different designs.
Of all the models on display at the Shanghai auto show, 38 were equipped with LiDARs, with BYD-backed RoboSense, founded in 2014, being the biggest winner and the supplier for 18 of them.
Among BYD's models, the high-end Yangwang U8 off-road SUV and Denza N7 SUV are equipped with RoboSense's M Series LiDARs.
XPeng G6, which debuted at the Shanghai auto show, and the company's two flagship models, the P7i sedan and the G9 SUV, are also equipped with RoboSense's M Series LiDARs.
On April 14, 2021, XPeng unveiled the P5, the world's first LiDAR-equipped production car, on the eve of the last Shanghai auto show.
Notably, the P5 used LiDAR provided by Livox, incubated by drone maker DJI. However, XPeng switched to RoboSense's LiDARs for all subsequent models.
AITO, the EV brand jointly created by Huawei and Seres Group, also uses RoboSense's M Series LiDAR in the M5 SUV. Among other high-profile models, the Lotus Eletre, GAC Aion Hyper GT, Arcfox α-S with " Huawei Inside" are also equipped with RoboSense's LiDARs.
In addition to RoboSense, Innovusion and Hesai are the other two major players.
Among the vehicles on display at the Shanghai auto show, six NIO models -- the new ES8, ES7, new ES6, EC7, ET7 and ET5 -- are equipped with Innovusion's Falcon LiDARs.
Innovusion had a booth at the show and used an ET7 as a vehicle to showcase its product.
Li Auto (NASDAQ: LI) currently has three models on sale -- Li L7, Li L8 and Li L9 -- all equipped with Hesai's AT128 LiDARs. HiPhi's HiPhi Z and HiPhi Y are also equipped with the component from Hesai.
For smart driving, vehicles need to detect their surroundings, and a single type of sensor often encounters scenarios that are not covered by its capabilities, a RoboSense source told CnEVPost.
The addition of LiDAR makes up for the weaknesses of other sensors, thus making the perception system capability more comprehensive and the smart driving decisions safer and more reasonable, the source said.
RoboSense flexes muscles at Tech Day, unveils new solid-state LiDAR and dedicated lab for testing
| LiDAR Supplier | Brand | Model | Booth | LiDAR Type |
|---|---|---|---|---|
| RoboSense | IM Motors | LS7 | Hall 3 | M Series |
| RoboSense | IM Motors | L7 | Hall 3 | M Series |
| RoboSense | BYD | Denza N7 | Hall 4.1 | MSeries |
| RoboSense | BYD | Yangwang U8 | Hall 8.1 | M Series |
| RoboSense | Arcfox | Arcfox α-S HI | Hall 4.1 | M Series |
| RoboSense | FAW Hongqi | EV E001 | Hall 5.1 | M Series |
| RoboSense | FAW Hongqi | EV SUV E202 | Hall 5.1 | M Series |
| RoboSense | XPeng | G6 | Hall 6.1 | M Series |
| RoboSense | XPeng | P7i | Hall 6.1 | M Series |
| RoboSense | XPeng | G9 | Hall 6.1 | M Series |
| RoboSense | AITO | M5 | Hall 6.1 | M Series |
| RoboSense | GWM WEY | Lanshan DHT -PHEV | Hall 6.2 | M Series |
| RoboSense | Chery Exeed | Sterra ES | Hall 7.2 | M Series |
| RoboSense | Chery Exeed | Sterra ET | Hall 7.2 | M Series |
| RoboSense | Geely Livan | Livan 7 | Hall 8.2 | M Series |
| RoboSense | GAC Aion | LX Plus | Hall 8.2 | M Series |
| RoboSense | GAC Aion | Hyper GT | Hall 8.2 | M Series |
| RoboSense | Lotus | Eletre | Hall 8.1 | M Series |
| Hesai | Lotus | Eletre | Hall 8.1 | AT128 |
| Hesai | HiPhi | HiPhi Z | Hall 7.1 | AT128 |
| Hesai | HiPhi | HiPhi Y | Hall 7.1 | AT129 |
| Hesai | Li Auto | Li L9 | Hall 6.1 | AT128 |
| Hesai | Li Auto | Li L8 | Hall 6.1 | AT128 |
| Hesai | Li Auto | Li L7 | Hall 6.1 | AT128 |
| Innovusion | NIO | New ES8 | Hall 6.1 | Falcon |
| Innovusion | NIO | ES7 | Hall 6.1 | Falcon |
| Innovusion | NIO | EC7 | Hall 6.1 | Falcon |
| Innovusion | NIO | New ES6 | Hall 6.1 | Falcon |
| Innovusion | NIO | ET7 | Hall 6.1 | Falcon |
| Innovusion | NIO | ET5 | Hall 6.1 | Falcon |
| Valeo | Audi | A8L | Hall 5.1 | Scala |
| Valeo | Audi | A7L | Hall 5.1 | Scala |
| Valeo | Audi | A6L | Hall 5.1 | Scala |
| Valeo | Audi | Q8 | Hall 5.1 | Scala |
| Valeo | Mercedes-Benz | EQS | Hall 4.1 | Scala |
| Luminar | Volvo | EX90 | Hall 6.2 | lris |
| Luminar | Polestar | Polestar 3 | Hall 6.2 | Iris |
| Huawei | Avatr | Avatr 11 | Hall 6.1 | 96 Beams |
| Tanway | Hycan | V09 | Hal 6.1 | 130 Beams |
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RoboSense will provide RS-LiDAR-M series LiDARs for a number of FAW Toyota's best-selling models, promising accurate sensing capabilities for vehicles.
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