【I Want To Be The First Guy】

Chinese laser sensor startup Hesai announced on I Want To Be The First GuyThursday it will file a complaint against the US Defense Department, saying that its inclusion on an official Pentagon blacklist due to alleged links to China’s military is “unjust, capricious, and meritless.” In a statement, chief executive Li Yifan called the US government decision “without any explanation or justification,” stating that Hesai is not a military company and its products are for civilian use only and have never been designed or validated for military use. The move comes days after the US authorities on Jan. 31 designated the firm, among others, as working with China’s military and placed it on a list that could hit its reputation and result in more sanctions against it from other government departments. Shares of the Shanghai-based and Nasdaq-listed lidar maker declined 7.9% to less than $4 on Wednesday, which is more than 80% down from their peak. [Hesai statement]

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