Specifically, the company is focusing on the production of its newest, weirdest shoe-a giant soled laceless running shoe with a single-piece toe box made of "hyper-foam" plastics sprayed on by robot arms. The plastics are 40 percent biofoam, and the shoe is made of just eight pieces; On says its minimalist approach saves on the shoe's carbon footprint.
The company's automotive efforts have been buoyed by the Chinese car market's adoption of lidar sensors, which Hesai said is now in 25% of new electric cars sold in the country. It also claimed that many new vehicles in China are expected to integrate between three to six lidar sensors per car, "significantly expanding Hesai's addressable market." Hesai boasts 24 automotive customers, including a "top European" automaker, and said it has 4 million orders for its newest ATX lidar sensor.
Kioxia took a significant hit on the stock market this week after an investment vehicle affiliated with Bain Capital put a large block of shares on the market. Bloomberg reported on the sale by Bain Capital. The sale, worth more than $2 billion, took place at a substantial discount and put pressure on the share price of the Japanese memory chip manufacturer. Investors reacted nervously to the signal that a major shareholder is willing to reduce part of its position.
