| Source: Hesai Group
PALO ALTO, Calif., Oct. 12, 2023 (GLOBE NEWSWIRE) -- Hesai Group (“Hesai” or the “Company”) (NASDAQ: HSAI), the global leader in the automotive lidar market, today announced that the U.S. International Trade Commission (“ITC”) terminated an investigation of alleged patent infringement (the “ITC Action”) that was commenced by Hesai’s competitor Ouster (NYSE: OUST). On October 10, 2023 the ITC Commissioners affirmed an August 24, 2023 initial determination by the presiding ITC Administrative Law Judge granting Hesai’s motion to terminate the ITC Action.
Hesai has always believed all of Ouster’s infringement allegations are baseless and lack merit. Hesai's lidar products are independently developed, based on years of research and engineering investment, not stolen IP. Ouster wrongly sued Hesai in contravention of its merger partner Velodyne's patent cross-licensing agreement with Hesai which binds the combined Ouster/Velodyne entity. Ouster's arguments that it is not bound by the previous patent cross-licensing agreement was both legally and ethically incorrect. Hesai has fully abided by the agreement, but Ouster tried to escape its legal obligations.
Further, In Ouster’s previous public statement, Ouster made completely baseless accusations regarding Hesai's motives. Hesai is an ethical player in the lidar market. The Commission terminated the ITC Action because the prior...
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