David Li, CEO of Hesai, the world’s biggest producer of laser sensors used in electric vehicles, expressed surprise and concern over the allegations of ties with the Chinese military from the U.S. Congressional Research Service. Also, the Pentagon added Hesai to a list of Chinese entities alleged to be a part of China’s military-civil fusion program. These accusations has created a perception of investment risk that has triggered the downfall of Hesai’s share price. In response, Hesai took legal action by suing the Pentagon. Li denies any connection between Hesai and the Chinese military, and claims to have not received any investment from the Chinese government or state-linked entities.
https://www.ft.com/content/f0fd46dc-62b9-4d60-8367-dc4ae860076d