by CHEN Xiaotong

China's autonomous heavy-duty truck maker DeepWay has raised over $310 million in an expanded pre-IPO round, backed by investors including UAE-based Stone Venture and Australia's NGS Super, as it steps up its overseas expansion push in driverless freight.

The funding underscores growing global interest in China's autonomous trucking technology, as companies look to deploy solutions on standardized logistics routes beyond the domestic market.

DeepWay said the proceeds will support research and development and the commercialization of its autonomous freight systems, with overseas expansion set to accelerate from 2026, with support from its international investors' global networks.

The company is targeting fixed-route, short-haul bulk transport — a segment that accounts for roughly 40%–50% of China's road freight volume and is the most viable segment for large-scale deployment of autonomous trucks.

DeepWay, founded by Baidu and logistics firm Lionbridge, has launched platooning truck operations in regions including Inner Mongolia and Xinjiang, while continuing tests of fully driverless systems.

The company has delivered about 6,400 new-energy heavy trucks as of June 30, 2025, according to its Hong Kong IPO filing. Revenue rose to 1.97 billion yuan in 2024, though it remains loss-making as it ramps up investment.

Rivals including KargoBot and Zeron Truck have also secured fresh funding this year, underscoring growing investor bets that autonomous trucking is nearing large-scale commercialization.

Analysts say falling hardware costs, improving infrastructure and easing regulations are helping move the sector from pilot programs toward scalable deployment, paving the way for Chinese firms to expand into global logistics markets.