Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

Google News

DeepWay New Energy Truck Company Raises 67 Million Dollars

Join the Opinion Leaders Network

Join the Techgenyz Opinion Leaders Network today and become part of a vibrant community of change-makers. Together, we can create a brighter future by shaping opinions, driving conversations, and transforming ideas into reality.

DeepWay, an intelligent new energy truck company subsidized by Baidu, announced on Tuesday, August 23, that it has put up 460 million yuan (roughly around $67.19 million) in Series A financing. This was the first round of financing for DeepWay, but in the first round, it set a record for the hugest financing scale of a newcomer to the segment of smart energy trucks.

If we take a peep look into the electric truck firm DeepWay, the brand has distinctive stationeries. The company has been conferred as the first electric vehicle startup that builds autonomous trucks from the beginning for shipments.

The company claims this could be more feasible for consumers to look around and make it tranquil. It also reduces production costs.

The newbie was jointly established by logistics service provider Shiqiao Group and tech giant Baidu in early 2020, as in the two-year-old company is now upsurging to RMB 3 billion in the latest fundraising round, which had been led by Qiming, Chinese tech media outlet QbitAI reported, citing company insidersDeepWay is one of the first startups to get authorization from Baidu to conduct “white-box testing,” which means the company has a working technology of the latter’s self-driving technology.

DeepWay says it will try to promote the R&D, production, and manufacturing of smart new energy heavy-duty trucks and enhance the advancement of automated driving knowledge in high-speed heavy-duty trucks. It is possible only because of the support the company got from the capital. According to DeepWay’s R&D precise blueprint, in December 2022, the firm will assign Xingchen to trial operations on undetermined. From June 2023, the company will kickstart mass production, and it aims to deliver 1,000 units of smart new energy heavy trucks in the year.


Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Power Your Business

Solutions you need to super charge your business and drive growth

More from this topic