According to local Chinese media reports, ON Semiconductor participated in Hesai Technology's Series C financing, which was made up of multiple investors with a total funding of $ 173 million.

Hesai Technology was established in October 2014, focusing on the development and manufacture of lidars for robots and autonomous driving. So far, Hesai Technology has two business centers, two manufacturing centers, and a research institute in China and the United States. It has more than 600 employees and 364 patents worldwide.

Hesai's self-developed products such as Pandar64, PandarGT (micro-mirror solid-state lidar) and Pandora (multi-sensor fusion) have won the attention of the world's top autonomous driving and robotics companies. In addition, more than 50% of the 62 companies that have been granted open driverless road test licenses announced by the California DMV are customers of Hesai.

ON Semiconductor has been strengthening its presence in the field of autonomous driving in recent years. In the field of camera image sensors, ON Semiconductor competes fiercely with Sony and OmniVision; in the radar field, it competes with Infineon, STMicroelectronics, Texas Instruments, and NXP; the LiDAR field is a completely new field of open competition, ON Semiconductor has dozens of startups, and this investment is also part of its layout in the field of autonomous driving.