DeepWay successfully raised 750 million RMB in Series B financing to enhance its electric and intelligent truck technology development in China.

Target Information

DeepWay, a company focused on the electrification and intelligence of heavy-duty trucks, recently announced the completion of its Series B financing, raising a total of 750 million RMB. The funding will be primarily used to accelerate the research and development of its electric and intelligent truck technologies in Hefei and to strengthen the supply chain of key components in the Changxing region of Zhejiang. The founder and CEO, Wan Jun, emphasized that this financing round presents an opportunity to enhance their vehicle development investments and expand their market share in the new energy heavy-duty truck sector, aligning with their globalization strategy.

Industry Overview in China

China's heavy-duty truck industry is experiencing a significant transformation driven by advancements in electrification and automation technologies. The national push for carbon neutrality and stricter emissions regulations are accelerating the shift towards electric vehicles (EVs), particularly in the commercial transportation sector. This change is encouraging companies to invest in innovative solutions that not only meet regulatory demands but also improve operational efficiency and cost-effectiveness.

Major players in the market are increasingly adopting advanced technologies like artificial intelligence and big data analytics to optimize logistics and supply chain management. As competition intensifies, businesses must i