DeepWay
- Company typePrivate
- Founded2020
- HeadquartersBeijing, China
- Headcount501–1,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What DeepWay does
DeepWay (深向科技) is a Chinese autonomous-driving and new-energy heavy-duty truck manufacturer, co-founded in 2020 by Baidu and Lionbridge Group and headquartered in Hefei, Anhui Province. The company designs and sells forward-engineered electric heavy-duty trucks — the Xingchen II (深向星辰II) and Xingtu (深向星途) models — equipped with a streamlined low-drag body (40-50% drag reduction), a 270° panoramic smart cockpit, and an integrated AI fleet management platform. It serves large fleet operators and logistics companies running fixed-route trunk logistics, industrial logistics, port operations, and bulk freight, with 12,000+ trucks delivered to customers in China, Thailand, New Zealand, and Australia. DeepWay is one of only two companies holding a Chinese L4-level autonomous heavy-duty truck commercialization permit and is the exclusive commercial-vehicle licensee of the Baidu Apollo autonomous driving stack.
The company operates a three-phase commercial model: (1) vehicle sales as the cash-flow foundation (99% of 2025 revenue), (2) recurring L2 assisted-driving subscriptions (Tianke Suixing / 天玑·随行, commercially delivered since 2023, 7,500+ activated vehicles, 30%+ renewal rate), and (3) future RoboTruck unmanned freight capacity services. The technology stack layers the L2 subscription product, the L4 intelligent platooning transport system IPTS (Tianke Yanxing / 天玑·雁行, launched 2025), and a planned L4 single-vehicle driverless system (Tianke Duxing / 天玑·独行, targeted 2028). Revenue grew from RMB 426M (2023) to RMB 1.97B (2024) to RMB 3.961B (~$547M, 2025), making DeepWay the ninth-largest global brand of electric and new energy trucks; the company remains unprofitable (RMB 675M net loss in 2024, RMB 371M in H1 2025) as it invests in autonomous driving R&D and international expansion.
DeepWay sells primarily through direct enterprise field sales supported by a national service network of 403 locations and 1,000+ engineers, with newly established channels in Singapore, Thailand, Malaysia, UAE, Oman, Australia, and New Zealand. The company has raised over $310M in Pre-IPO financing (largest single-round in heavy-truck autonomous driving in five years) and filed a prospectus with the Hong Kong Stock Exchange in November 2025 under the Chapter 18C regime, targeting a 2026 listing that would make it the first smart heavy-truck stock on HKEX. Baidu remains the largest single shareholder at 13.48% as a founding backer, with additional strategic and institutional participation from Qiming Venture Partners, Weiqiao Pioneering, Puhua Capital, Stone Venture, ABC Impact (Temasek), NGS Super, and Sunwoda.
DeepWay firmographics
Firmographics- Name
- DeepWay
- Legal name
- 深向科技股份有限公司 (DeepWay Technology Co., Ltd.)
- Website
- https://deepway.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Ownership category
- akta.pro rank
Where DeepWay is headquartered
LocationHeadquarters
- HQ city
- Beijing
- HQ country
- China
- HQ region
- Asia
Offices2 records
Markets served
DeepWay business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Technology or R&D, Personnel, Operations, Marketing or Sales
Revenue model
- Vehicle Sales: Primary revenue stream from selling smart electric heavy-duty trucks to fleet customers. Accounts for approximately 99% of total revenue. Revenue grew from 426 million yuan in 2023 to 3.961 billion yuan in 2025.
- L2 Assisted Driving Subscription: Subscription service for L2 assisted driving features with 30%+ subscription renewal rate. Serves as a high-margin recurring revenue stream and data collection mechanism for future autonomous development.
- Fleet Management Services: AI-powered fleet management platform services integrated with vehicle sales, providing digital fleet management capabilities
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Hybrid | Multi-year contract | Vehicle sales with bundled L2 subscription |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels1 record
DeepWay product offering
Product offeringCore offering
DeepWay manufactures and sells intelligent electric heavy-duty trucks (DeepWay Xingchen II and DeepWay Xingtu) integrated with Baidu Apollo-based autonomous driving technology, sold primarily to enterprise fleet operators and logistics companies. The company also offers L2 assisted driving subscription services (Tianke Suixing) as a recurring revenue stream alongside its truck sales, with an L4 platooning system (Tianke Yanxing) in limited-scenario deployment.
Product overview
DeepWay (深向科技) is a smart electric commercial vehicle company offering a unified platform of forward-engineered new energy heavy-duty trucks integrated with intelligent driving systems. The product portfolio centers on two core truck models—DeepWay Xingchen II (深向星辰 II) and DeepWay Xingtu (深向星途)—augmented by three progressive intelligent driving modules: Tianke Suixing L2 assisted driving (commercially delivered 2023), Tianke Yanxing L4 platooning IPTS (2025), and Tianke Duxing L4 single-vehicle driverless (planned 2028). The company operates a three-phase commercial model: vehicle sales (core cash flow), L2 subscription services (recurring revenue), and RoboTruck freight capacity services (network effect). An owner companion app provides Bluetooth connectivity and remote vehicle management.
Differentiator
Problem solved
Functional benefit
Brands
- DeepWay·Shenxiang Xingchen (深向星辰II): Second generation electric heavy-duty truck with advanced autonomous driving capabilities
- DeepWay·Xingtu (深向星途)
- Tianji (天玑)
Products and services
- DeepWay Xingchen II (深向星辰 II) Second-generation forward-engineered new energy heavy-duty truck with industry-leading battery-electric platform featuring a streamlined low-drag body design achieving one of the lowest wind resistance coefficients among batch-delivered trucks globally. Sold to enterprise fleet operators for logistics operations.
- DeepWay Xingtu (深向星途) Electric heavy-duty truck with 3800mm wheelbase, 10T lightweight kit, and all-scenario productivity design for trunk lines, ports, western mountain regions, and extreme cold environments. Targeted at fleet operators needing flexibility across varied operating conditions.
- Tianke Suixing (天玑·随行) L2 Assisted Driving System L2 assisted driving system providing highway following, driver assistance features, DMS driver monitoring, and fleet coordination capabilities. Sold as a subscription service bundled with DeepWay truck sales.
- Tianke Yanxing (天玑·雁行) L4 Intelligent Platooning Transport System (IPTS) L4 autonomous platooning system enabling coordinated autonomous driving between multiple vehicles for fixed-route short-haul bulk transport. Deployed for limited scenarios in specific Chinese regions.
- DeepWay Owner App (深向车主 APP) Mobile companion application for DeepWay vehicle owners providing Bluetooth key functionality (door unlocking, high-voltage control, electronic suspension), remote vehicle control, work order repair requests, data statistics, and parts inquiry.
Quantifiable outcome
- 12,000+ trucks delivered to customers across China, Thailand, New Zealand, and Australia
- +5 more outcomes
Companies that use DeepWay
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles1 record
DeepWay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability9 records
Feature6 records
DeepWay partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Baidu ApollocoreDeepWay is the only commercial-vehicle partner licensed to use Baidu Apollo autonomous driving technology, integrated with DeepWay's own driver-assistance and platooning systems
Scale indicators14 records
Recent moves10 records
Expansion highlights6 records
DeepWay competitors and assessment
Company assessmentDirect peers
- Plus: Plus develops autonomous driving technology for commercial freight with a focus on L4 autonomous trucking solutions. Comparable technology peer pursuing similar commercial deployment of driver-in and driverless autonomous heavy-duty truck solutions.
- TuSimple: TuSimple is one of the pioneers in autonomous trucking, developing L4 autonomous driving technology for heavy-duty freight with operations in the US and China. Comparable full-stack autonomous freight platform with similar go-to-market targeting fleet operators.
- Inceptio Technology: Inceptio is a leading Chinese autonomous driving company focused on L3/L4 heavy-duty trucks, combining proprietary autonomous driving technology with truck manufacturing partnerships. Closest direct competitor to DeepWay in the Chinese autonomous freight market with similar technology stack and fleet customer base.
- Kodiak Robotics: Kodiak Robotics develops autonomous driving technology purpose-built for long-haul trucking, with similar focus on L4 autonomous freight solutions and commercial deployment. Comparable technology-focused autonomous trucking competitor.
- TrunkTech (赢彻科技): TrunkTech is a Chinese autonomous trucking company developing L3/L4 autonomous driving systems for heavy-duty trucks. Direct competitor with nearly identical business model combining autonomous software with truck OEM partnerships, targeting the same Chinese logistics fleet operators.
Broad incumbents
- BYD: BYD is a global leader in electric vehicles with a significant commercial vehicle business including electric trucks and chassis. A broad incumbent with much larger scale, broader product portfolio, and stronger distribution competing in the same electric heavy-duty truck market.
- Tesla Semi: Tesla's electric semi-truck program represents a global premium competitor in the electric heavy-duty truck space with comparable technology focus, ambitious performance claims, and international ambitions targeting fleet decarbonization.
- Daimler Truck: Daimler Truck is a global leader in commercial vehicles including heavy-duty trucks, with growing electric and autonomous truck portfolio through partnerships (e.g., Torc, Waymo). Broad incumbent serving global freight markets with deep customer relationships.
- Geely Farizon Auto: Geely's commercial vehicle brand Farizon Auto produces a full range of new energy commercial vehicles including heavy-duty trucks. Chinese incumbent with similar product focus and broader distribution network backed by a major automotive group.
- FAW Jiefang: FAW Jiefang is China's largest heavy-duty truck manufacturer and a state-owned enterprise. Traditional incumbent rapidly transitioning to electric and autonomous trucks, competing directly in the same heavy-duty truck market with massive scale advantages.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
DeepWay social profiles
Digital presenceDeepWay financial estimates
Financial estimateRevenue estimate
Valuation estimate
DeepWay leadership team
Management profileNumber of profiles
DeepWay funding detail
Funding detailFunding overview
Funding rounds5 records
Investors29 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
DeepWay M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about DeepWay
What does DeepWay do?
DeepWay manufactures and sells intelligent electric heavy-duty trucks (DeepWay Xingchen II and DeepWay Xingtu) integrated with Baidu Apollo-based autonomous driving technology, sold primarily to enterprise fleet operators and logistics companies. The company also offers L2 assisted driving subscription services (Tianke Suixing) as a recurring revenue stream alongside its truck sales, with an L4 platooning system (Tianke Yanxing) in limited-scenario deployment.
Is DeepWay a public or private company?
DeepWay is a private company. It is classified as venture growth investor backed and is currently operating.
When was DeepWay founded?
DeepWay was founded in 2020. It employs 501 to 1,000 people.
Where is DeepWay based?
DeepWay is headquartered in Beijing, China, in the Asia region.
How does DeepWay make money?
Three revenue lines are on record. Vehicle Sales are the primary driver. The others are L2 Assisted Driving Subscription and fleet Management Services.
Who are DeepWay's main competitors?
Direct peers on record are Plus, TuSimple, Inceptio Technology, Kodiak Robotics and TrunkTech (赢彻科技). Broad incumbents are BYD, Tesla Semi, Daimler Truck, Geely Farizon Auto and FAW Jiefang.
Does DeepWay have an API?
No public API is recorded for DeepWay.