DeepWay is an innovative new force in the new energy truck manufacturing industry. The financing was led by Weiqiao Pioneer Group, a company ranked on Fortune Global 500 list in 2022, together with SoftBank China Capital. Existing investors, such as Qiming Venture Partners, also participated in this round. The raised funds will primarily be invested in the manufacturing of DeepWay's intelligent new energy heavy trucks and the development of advanced intelligent driving systems.
The company aims to ensure efficient vehicle production and high-quality delivery, further solidifying its leading position in the intelligent new energy heavy truck market. Notably, this financing round comes just half a year after DeepWay's completion of its Series A financing, garnering recognition and support from Fortune Global 500 companies and top-tier investment institutions. So far, DeepWay has raised over 1.2 billion RMB in a short period, leading the charge among new forces in truck manufacturing.
As one of the leading investors in this financing round, Weiqiao Pioneer Group will also become one of DeepWay's first batch of seed users. Building upon high-quality intelligent new energy heavy truck orders, both parties will integrate large-scale industrial customer closed-loop transport solutions with intelligent new energy heavy trucks. This collaboration will accumulate operational and large-scale management data from vehicles to promote further cooperation in various business scenarios, demonstrating the application and implementation of intelligent logistics transportation solutions within the industry.
What makes DeepWay different
As the first new force in China's truck manufacturing industry to propose forward design for fully harnessing the advantages of electric propulsion, DeepWay has been committed to addressing commercial vehicle intelligent driving needs. The company designed a vehicle base with full vehicle line control, hardware redundancy backup, and high-speed communication capabilities as a starting point. This base features advanced driver assistance systems and supports continuous over-the-air upgrades.
Additionally, the vehicle incorporates innovative design concepts, such as an ultra-low aerodynamic streamlined body, distributed drive, integrated battery and chassis structure, and a multi-domain fusion EE architecture based on high-speed communication capabilities.
Currently, DeepWay's first product, "Deep Star," has entered the small-scale trial operation stage, with vehicles successfully deployed in multiple real-world operating scenarios. Unlike traditional autonomous driving solution companies that rely on a limited number of modified vehicles for testing and verification, DeepWay uses data accumulation from large-scale production vehicles in real scenarios to drive rapid iteration of its intelligent driving capabilities. According to the company's operational plan, Deep Star vehicles equipped with the DeepWay autonomous driving system will enter mass production in June 2023.
What do the investors say
Weiqiao Pioneer Group Chairman Zhang Bo expressed his confidence in DeepWay, highlighting the company's unique capabilities as the first intelligent new energy heavy truck manufacturing force in China to adopt forward design and integrate expertise in trunk logistics, heavy truck manufacturing, and autonomous driving technology.
The group, as the world's largest aluminum production enterprise, and DeepWay possess various advantageous resources in the development of intelligent new energy heavy trucks, lightweight high-end aluminum materials, and components. Zhang Bo looks forward to the cooperation between the two companies in heavy truck lightweighting, smart logistics digital platform, and other areas, believing it will lead to long-lasting and profound collaboration in the era of intelligent logistics.
Zhang Yuepeng, Partner at SoftBank China Capital, emphasized the tremendous growth opportunities in the new energy industry chain amid the backdrop of a dual-carbon world. DeepWay's full-stack research and development and manufacturing capabilities for a new generation of forward-designed new energy heavy trucks, leading autonomous driving technology, and over ten years of accumulated experience in trunk logistics and customer relations form the company's unique competitive advantages in the industry.
SoftBank China Capital and Weiqiao Pioneer Group's strategic layout and resource introduction in the industrial chain will further empower DeepWay, resulting in synergistic effects. Zhang Yuepeng looks forward to jointly ushering in a new era of intelligent freight transportation.
DeepWay's Founder and CEO, Wan Jun, reaffirmed the company's commitment to becoming a significant participant and promoter in China's commercial vehicle electrification and intelligence. The company aims to contribute to the realization of humanity's low-carbon, environmentally friendly, and safe transportation dreams. DeepWay views this as both an enterprise responsibility and a mission bestowed upon them by the times.
Wan Jun expressed appreciation for the investment from Weiqiao Pioneer Group and SoftBank China Capital, along with the support from existing shareholders, in the company's journey. Together, they will strive to realize the shared enterprise vision of "creating a safer, more intelligent, efficient, environmentally friendly, and comfortable freight terminal."
Original press release in Chinese here.