Xiaomi-Backed Hesai Technology Files for U.S. IPO

Hesai Technology Co., a Chinese developer of sensor technologies used in self-driving cars, filed for an initial public offering (IPO) in the U.S., aiming to become the first publicly traded Chinese lidar sensor maker.

The Shanghai-based startup previously planned to sell shares domestically. It filed for an IPO on Shanghai’s Nasdaq-like STAR Market in 2021 to raise 2 billion yuan ($296 million) but withdrew the application two months later.