DeepWay, a developer of intelligent new energy heavy-duty trucks and smart freight solutions, has closed the second tranche of its Pre-IPO financing, bringing the total raised in the Pre-IPO phase to $310 million ahead of a planned IPO.
The latest tranche was led by Stone Venture, with participation from NGS Super and Xiamen Guosheng Fund, while existing investors including ABC Impact and Nanjing Ronghe Venture Capital increased their investment.
The proceeds will support the company’s core operations, continued technology development, and global business expansion.
The financing marks a notable vote of confidence from overseas strategic investors in the commercialization potential of intelligent electric trucking.
DeepWay said the new investors bring not only capital, but also access to international business networks that can support its overseas growth in the years ahead.
Founded in 2020, DeepWay focuses on forward-engineered electric heavy-duty trucks designed for commercial freight scenarios.
The company says it is the first in China, and among the first globally, to develop and scale intelligent new energy heavy-duty truck solutions through a forward-engineering approach, rather than retrofitting legacy diesel truck platforms.
By June 30, 2025, DeepWay had delivered approximately 6,400 vehicles, all from commercial orders. Its deliveries reached 509 units in 2023, 3,002 units in 2024, and 2,873 units in the first half of 2025, underscoring a rapid commercialization trajectory.
The company’s trucks are built around a proprietary electric drivetrain and control architecture, with a focus on energy efficiency, total cost of ownership, and operational safety.
DeepWay has also integrated its driver assistance technologies across its vehicle lineup. Its standard intelligent driving assistance system, Tianji Suixing, is designed to improve safety, reduce driver fatigue, and optimize energy consumption in long-haul freight operations.
In higher-level autonomy, DeepWay has also been advancing Tianji Yanxing, its intelligent platooning transport system, with vehicles already in production and operating cargo-carrying runs in multiple regions of China as part of commercialization pilots.
The company has obtained autonomous driving test permits in Beijing, Hefei, Changxing, and Inner Mongolia.
DeepWay’s strategy combines electrification, intelligent driving, and freight operations data into what it sees as a long-term path toward autonomous freight robots.
The company is backed by Baidu as a founding shareholder and is the only commercial vehicle partner authorized to use Baidu Apollo intelligent driving assistance technology in this way, while building its own vehicle intelligence and autonomous driving capabilities on top of that foundation.
“Over the past year, DeepWay has achieved substantial progress in the commercialization of autonomous driving,” said Tan Shao Ming, chief investment officer at ABC Impact.
“It became the first company globally to make integrated driver assistance system standard across the full lineup, has seen a steady rise in paid subscription rates, and has significantly accelerated the deployment of its intelligent platooning transport system.
“We look forward to partnering with DeepWay to jointly define the next generation of freight robots. ABC Impact will leverage its influence in the Asia-Pacific region to support DeepWay’s expansion into regional markets.”
Ben Squires, chief investment officer at NGS Super, said: “We recognize DeepWay’s contributions in the fields of zero-carbon emissions and green energy.
“Through its forward-engineered electric heavy-duty trucks and autonomous driving technology, DeepWay is fundamentally driving the green, low-carbon, and intelligent transformation of road freight. Its ultimate vision – autonomous freight robots – represents the future direction of road freight.
“As a patient capital provider, we are optimistic about the company’s long-term investment value and its ability to create a sustainable commercial closed loop. Meanwhile, NGS Super’s extensive resources in Australia and New Zealand will provide strong support for DeepWay’s global expansion.”
DeepWay has already established sales channel networks in Singapore, Thailand, Malaysia, the United Arab Emirates, Oman, Australia, and New Zealand. The company said it had also completed overseas deliveries by the end of 2025 and is preparing to accelerate commercialization in global markets starting in 2026.
The company sees international expansion as a key pillar of its next growth phase as decarbonization, logistics efficiency, and AI-enabled transport continue to converge.
Looking ahead, DeepWay said it will continue investing in in-house development of core components, intelligent driving technologies, and overseas commercialization as it works toward a more efficient, lower-carbon, and increasingly autonomous future for road freight.
