DeepWay Raises over $310M in Pre‑IPO Round Led by Stone

Why It Matters

The infusion of $310 million and international investors positions DeepWay to scale its integrated electric‑autonomous truck platform globally, accelerating the shift toward zero‑emission freight and influencing the competitive dynamics of the autonomous trucking market.

Key Takeaways

• Funding exceeds $310 million, among China’s largest autonomous truck rounds
• New investors bring networks across Middle East, Australia, Europe, and U.S.
• Revenue hit ~$220 million in H1 2025, still unprofitable
• Deliveries surpass 12,000 new‑energy heavy trucks to date
• Plans target overseas commercialization by 2026 with L4 platooning

Pulse Analysis

DeepWay’s $310 million pre‑IPO raise underscores the accelerating appetite for autonomous freight solutions beyond China’s borders. While the domestic market has been the proving ground for electric heavy‑duty trucks, global logistics firms are now eyeing integrated platforms that combine electrification, advanced driver‑assistance, and full self‑driving capabilities. The participation of Stone, NGS Super, and Xiamen Guosheng signals a strategic shift: capital is being paired with market access in the Middle East, Australia, Europe, and the United States, creating a runway for cross‑regional deployments that could reshape freight economics.

Technologically, DeepWay differentiates itself by tightly integrating the vehicle chassis, electric powertrain, perception hardware, and AI‑driven software into a single data flywheel. This approach enables the company to move from Level‑2 driver‑assistance systems to Level‑4 platooning, where trucks operate in tightly coupled convoys with minimal human input. Recent tests in Xinjiang, Inner Mongolia, and Sichuan demonstrate the scalability of its platooning models, and cumulative deliveries now exceed 12,000 units, reflecting rapid production ramp‑up. The data generated from these fleets fuels continuous algorithmic improvement, a critical advantage in the volatile conditions faced by heavy‑load trucks.

Looking ahead, DeepWay’s roadmap targets a 2026 overseas commercialization launch, leveraging its new shareholders’ networks to secure pilot projects across key freight corridors. The upcoming Hong Kong IPO, slated for late 2025, will provide additional capital to fund global expansion and further R&D. If the company can translate its China‑validated technology into profitable international contracts, it could set a benchmark for the next generation of zero‑emission, autonomous freight, prompting incumbents and newcomers alike to accelerate their own electrified trucking strategies.

Deal Summary

DeepWay Technology announced that its pre‑IPO funding round has been expanded to more than $310 million, led by UAE‑based Stone with participation from NGS Super, Xiamen Guosheng Fund and existing shareholders ABC Impact and Nanjing Ronghe Capital. The capital will fund autonomous‑driving technology and freight‑robot commercialization as the company prepares for a Hong Kong IPO.