Chinese commercial EV maker DeepWay raised $111.8M (770M yuan) in Series A+ funding.

 

Chinese commercial EV maker DeepWay raised $111.8M (770M yuan) in Series A+ funding.  Incoming funds will enable DeepWay to commence mass manufacturing of smart heavy-duty electric trucks and back R&D efforts to further develop its products.  Chinese search engine firm Baidu and commercial logistics company Lionbridge established DeepWay through a joint venture in Jul. 2020.  In August 2022, the firm nabbed $67M Series A, led by Qiming Venture Partners.  Vlight Capital, CCB Trust, Lenovo Capital, and Incubator Group participated in the Series A round.  Qiming participated in the current Series A+ round, which was led by Shandong Weiqiao Pioneering Group and SB China Venture Capital.  DeepWay intends to start mass production of its autonomous-driving trucks by June 2023.