Hesai Group (HSAI) Soars 19.26% as New Lidar Secures Safety Certification

Hesai Group (NASDAQ:HSAI) is one of the 10 Stocks Delivering Eye-Popping Gains.

Hesai Group soared by 19.26 percent on Thursday to end at $23.10 apiece after achieving a new milestone for its ATX Lidar and safety certification portfolio.

In a statement, Hesai Group (NASDAQ:HSAI) said that its ATX, a compact, high-resolution, long-range lidar, officially obtained ISO 26262 ASIL B functional safety certification from SGS-TÜV, the world’s leading testing, inspection, and certification institution.

ATX marked its fourth ISO 26262 accreditation after after Pandar128, QT128, and AT128. With the new certification, Hesai Group (NASDAQ:HSAI) said it now holds the highest number of ISO 26262 certified products in the world.

ISO 26262 is a key standard for the functional safety of electrical and electronic (E/E) systems in vehicles. It calls for carefully planned safety measures at every step of the development process—from safety management and concept design, to system, hardware, and software development.

Hesai Group (HSAI) Soars 19.26% as New Lidar Secures Safety Certification

Logistics robots filling packages in a warehouse, preparing for delivery.

As vehicles become more dependent on E/E systems, ISO plays an important role in ensuring vehicle components adhere to the most stringent safety standards to reduce costly recalls and prevent passenger injuries.

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Disclosure: None. This article is originally published at Insider Monkey.