TLDR:
- Hesai Technology, a Chinese technology company listed on Nasdaq, is threatening to sue the US government after being included in a list of companies the Pentagon says have links to the Chinese military.
- Hesai Technology specializes in LiDAR road sensing equipment used in self-driving vehicles and other applications.
A Nasdaq-listed Chinese technology company, Hesai Technology, is considering legal action against the US government after it was named among 17 companies by the Pentagon that allegedly have links to the Chinese military. Inclusion on the list has caused Hesai Technology’s stock price to fall from $22 to $4 in one year. The company’s core product is LiDAR road sensing equipment, which is used in autonomous vehicles and other applications. Hesai Technology insists that its products are designed for civilian use only and have not been validated for military use. The company plans to file a lawsuit, calling the inclusion on the list “unjust, capricious, and meritless.”
