HESAI-W (02525) rose over 5% in morning trading. As of press time, the stock was up 4.71% to HK$166.7, with a turnover of HK$28.8524 million. The surge follows company announcements. On May 20, HESAI-W announced via its official social media that, following its recent L3 collaboration with Mercedes-Benz, it has secured a new project designation from another top-tier European automaker. The order volume exceeds 1 million units, covering over ten models under the automaker's Chinese joint venture brands. This partnership signifies comprehensive recognition from a leading international automotive group for HESAI-W's fully self-developed chip-based technology, highly reliable product performance, and large-scale mass production capabilities. It also represents a critical foothold for Chinese intelligent components within the supply chains of top global automotive groups. Bank of Communications International noted that HESAI-W has become the strategic LiDAR partner and confirmed supplier for Mercedes-Benz's L3 autonomous driving models. The newly signed supply agreement will fully support related Mercedes-Benz vehicle projects in the European and Chinese markets, with the required LiDAR capacity to be provided by a newly established manufacturing center in Thailand. Concurrently, HESAI-W is advancing its global layout by leveraging Chinese joint ventures and rapidly growing domestic OEMs. The company successfully penetrated the Japanese automotive ecosystem by winning the design award for the 2026 GAC Toyota bZ3X and secured an overseas design collaboration with Xiaomi, whose automotive unit plans to commence overseas deliveries in 2027.