DeepWay BEV Truck has secured $310.0 million in its latest funding round, marking a significant investment in the intelligent new energy heavy-duty truck sector. The company, jointly created by Baidu and Lionbridge, is recognized as China's first emerging truck force to adopt fully forward-designed and mass-produced vehicles.
DeepWay's flagship product, the DeepWay Star, is China's first fully forward-designed intelligent new energy heavy-duty truck. It boasts independently developed technical advantages including an integrated battery and chassis layout, distributed electric drive axles, ultra-low wind resistance, lightweight design, and intelligent cockpit connectivity. These innovations contribute to a reduced energy consumption of 130 kWh per 100 kilometers. DeepWay also holds sole authorization from Baidu for its autonomous driving technology in the commercial vehicle sector, enabling high-level assisted driving capabilities in its mass-produced vehicles.
This substantial capital infusion underscores investor confidence in DeepWay's innovative approach and its established market presence. Since commencing mass production, DeepWay has delivered over 1,500 vehicles, providing logistics and transportation services for numerous renowned enterprises, including CATL, Mengniu Dairy, and SF Express.
The company plans to utilize the newly raised funds to accelerate its growth initiatives. This includes further investment in research and development to enhance its core technologies, scale up production capabilities, and expand its market reach within the commercial vehicle industry.
The funding positions DeepWay to continue its trajectory as a leading enterprise among emerging truck forces, driving the evolution of intelligent and energy-efficient heavy-duty transportation solutions.
