Industry News | 6/20/2025
MiniMax Launches Hailuo-02, Competing with Google Veo in AI Video Generation
MiniMax has introduced Hailuo-02, a new AI video generation model that reportedly outperforms Google's Veo 3 in benchmarks while offering lower pricing. This development highlights the growing competition in the AI video space, making high-quality video generation more accessible to creators and businesses.
MiniMax Launches Hailuo-02, Competing with Google Veo in AI Video Generation
Shanghai-based AI company MiniMax has unveiled its latest video generation model, Hailuo-02, which is said to challenge the established dominance of Google’s Veo 3. Early user benchmarks indicate that Hailuo-02 outperforms Veo 3, while also providing a more competitive pricing structure.
Performance and Features
Hailuo-02 has quickly gained recognition, achieving the #2 global rank on the Artificial Analysis benchmark for cinematic AI video, just behind Seedance 1.0 and ahead of Google’s Veo 3. Users have praised Hailuo-02 for its cinematic realism, producing high-fidelity 1080p video with consistent frame rates and a nuanced understanding of environmental physics, such as water and light effects.
One standout feature of Hailuo-02 is its "Director Control Toolkit," which allows users to simulate real cinematography by providing prompts for various camera movements, including "pan-down" and "dolly zoom." Users have noted that while Veo excels in motion fluidity and lighting, Hailuo-02 often delivers more emotional and realistic cinematic experiences.
Competitive Pricing
A significant advantage of Hailuo-02 is its pricing model. In contrast to Google’s Veo 3, which can cost up to $249 per month for premium subscriptions, MiniMax offers a more accessible pricing structure. The standard plan for Hailuo-02 is priced at $14.90 per month, which includes 1,000 credits for video generation. For users with higher demands, Pro and Master plans are available at $54.99 and $119.99 per month, respectively. Additionally, pay-as-you-go options are available, with costs as low as $0.49 for a 6-second 1080p video.
MiniMax's Growth and Future Implications
Founded in 2021, MiniMax has quickly positioned itself as a significant player in the AI sector in China, attracting investments from major firms like Alibaba Group and Tencent. The company reached a valuation exceeding $2.5 billion in a funding round in March 2024, led by Alibaba.
Hailuo-02, codenamed "Kangaroo," features an advanced motion-planning core that enhances camera transitions and realism, contributing to its high performance in benchmarks. The model can generate 1080p videos up to 6 seconds long and 768p videos up to 10 seconds long from text or image prompts.
The emergence of Hailuo-02 signals a shift in the competitive landscape of AI video generation, indicating that innovation is accelerating globally. As models like OpenAI's Sora and Google's Veo 2 continue to push the boundaries of realism, MiniMax's approach of combining high performance with affordability may compel other major players to rethink their pricing strategies, ultimately democratizing access to advanced video production tools.