The largest single financing in the autonomous driving new energy heavy truck sector has arrived, with DeepX Technology completing a Pre-IPO round financing of 1.177 billion yuan

Sing Tao Global Network Recently, Shenxiang Technology completed its Pre-IPO round of financing, raising a total of 1.177 billion yuan, marking the largest single financing in the history of the autonomous driving new energy heavy truck sector. This round of financing was led by PwC Capital, with investments from ABC Impact, Xinwangda, Qianhai Haotian, Hantang Real Estate, Linyi Guoke, Changxing Chuangqiang Fund, Shandong Guokong Capital, Lenovo Venture Capital, Greater Bay Area Fund, Guangyue Investment, and Hongshan Fund. The funds raised will primarily be used for the operation and development of the group's main business, further solidifying its leading position in the smart new energy heavy truck field. Shenxiang Technology is the world's first company to create smart new energy heavy truck solutions through positive definition and achieve mass delivery. The company adheres to the concept of positive definition, adopting an integrated dual-wheel drive development strategy of "self-owned vehicles + self-developed intelligent driving technology," redefining product and R&D structures outside the traditional fuel vehicle technology system, enabling deep adaptation between vehicle hardware and intelligent driving software at the underlying level, with the ultimate goal of fully autonomous driving in the freight sector. As of June 2025, the company has cumulatively delivered approximately 6,400 new energy heavy trucks, ranking first in the global positive definition new energy heavy truck market. Focusing on the long-term goal of autonomous driving, Shenxiang Technology has chosen a pragmatic and incremental development path, prioritizing the allocation of limited resources to directions that can achieve commercialization first. In the early stages of the company, it first built vehicles through positive definition, achieving self-research on the core components of the three electric systems, completing the electrification revolution of new energy heavy trucks; based on this, it promoted the large-scale application of combined auxiliary driving systems, and then advanced the deployment of human-machine co-driving formation models, achieving a positive business cycle of "laying eggs along the way," ultimately laying the foundation for the large-scale implementation of single-vehicle autonomous driving. This incremental path has allowed the company to establish a balance between technical feasibility and commercial sustainability, forming a differentiated development route in the field of commercial vehicle autonomous driving. In terms of the commercialization of smart driving, Shenxiang Technology is also at the forefront of the industry. Currently, the company has taken the lead in equipping the combined auxiliary driving system as standard across its latest vehicle models, with the subscription rate for intelligent driving services continuously increasing. This progress is attributed to the company's consistent market core demand orientation, prioritizing the practicality and economy of intelligent driving functions, and quickly achieving a commercial closed loop through high-cost performance solutions. At the same time, large-scale mass production and delivery have also accumulated a wealth of real operational scenario data for the company, providing reusable data and engineering foundations for the perception, decision-making, and control algorithms required for subsequent autonomous driving. In terms of application scenario selection, Shenxiang Technology is currently focusing on the massive short-distance bulk transportation market of fixed routes within China's logistics system, which accounts for approximately 40% to 50% of the total road freight demand. Around this scenario, the company is accelerating the application of smart formations, currently conducting formation testing and cargo operations in customer scenarios in Xinjiang, Inner Mongolia, Sichuan, and has achieved the first batch of customer deliveries for formation vehicle models. With the continuous accumulation of data and deepening operational experience, Shenxiang Technology is expected to achieve large-scale deployment of smart formations ahead of others, gradually evolving towards single-vehicle intelligent autonomous driving in short and medium-long distance scenarios, continuously advancing towards the long-term goal of "industrial robots." With a clear strategic path, continuous technological investment, and solid commercialization progress, DeepWay is steadily advancing the implementation process of freight autonomous driving. In the future, the company will continue to focus on technological and product innovation, accelerating the large-scale application of autonomous driving in road freight scenarios, and promoting the industry towards a smarter, more efficient, and greener direction. Investor Perspective: Yang Jie, partner at PwC Capital Fund, stated: "DeepWay has built a currently hard-to-replicate systematic advantage in the field of intelligent driving, with a research and development model that integrates vehicles and intelligent driving technology, achieving deep collaboration between hardware and software as well as a closed data loop. This not only ensures the high reliability and safety of the intelligent driving system but also leads the industry in engineering implementation and iterative computing efficiency. The company's pragmatic and clear progressive path from electrification to intelligence, and from L2 to L4, lays a solid foundation for the large-scale implementation of advanced autonomous driving in terms of data and engineering implementation. We are optimistic about the technological barriers and implementation experience that DeepWay has accumulated in the fields of vehicle electrification and intelligence. In the future competition of autonomous driving, we believe that DeepWay will become a leader in smart road freight with its unique strategic path and strong hardware and software moat." Chen Shaoming, Chief Investment Officer of ABC Impact, stated: "DeepWay's mission aligns closely with our investment philosophy. The company promotes the replacement of high-emission fuel trucks through electrification and intelligent technology, providing a potential solution for emission reduction and decarbonization in China's road freight sector. We are optimistic about DeepWay's capabilities in technological innovation and commercialization advancement, and we look forward to constructive cooperation with the company in governance and long-term value creation. 'ABC Impact is an impact investment fund under Temasek Trust, with limited partners including Temasek and the Asian Development Bank.'" Zeng Di, Secretary of the Board of Directors of Xinwanda, stated: "As an industrial investor, we are optimistic about the positive role that DeepWay plays in promoting industrial development and transformation. The company has created a positively defined smart new energy heavy truck, accurately addressing the core pain points of cost reduction and efficiency enhancement in the logistics industry. The advantages of vehicles in terms of total lifecycle cost and safety are significant, gaining recognition from an increasing number of customers. DeepWay not only promotes technological innovation in the industry but also leads an efficiency revolution in the entire road freight ecosystem. In the future, we look forward to working with DeepWay to accelerate the large-scale application of smart new energy heavy trucks in various freight scenarios."