A Nasdaq-listed Chinese technology company, Hesai Technology, is threatening to sue the U.S. government after it was 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. It was one of 17 companies added to the Department of Defense’s list of “Chinese military companies.” Hesai CEO Yifan “David” Li stated that the move was “unjust, capricious and meritless” and that the company is not a military organization and its products are for civilian use only.
Hesai Technology’s inclusion on the list came without explanation, and the company plans to file a lawsuit. The company’s stock price has dropped significantly since being added to the list. The Biden administration has maintained tariffs on Chinese goods and limited China’s access to advanced U.S. technology as part of its policies towards China. The Defense Department updates its list of Chinese military companies periodically to counter links between the Chinese military and civilian entities.
