Shandong Weiqiao and SBCVC led a $111m Series A+ round in DeepWay.

Shandong Weiqiao Pioneering Group, a company active in the textiles industry, and SBCVC, a venture capital and private equity firm, led a $111m Series A+ round in DeepWay, a smart commercial vehicle developer and manufacturer, with participation from Qiming Venture Partners. "DeepWay, the first smart electric logistics vehicle developer and manufacturer in China to take a distinctly forward-looking approach to vehicle design and development, offers strong competence in resource integration by combining truck logistics, the manufacturing of heavy-duty trucks and autonomous driving technologies. The two companies both have multiple advantages in the R&D capacity of intelligent electric heavy-duty trucks, as well as in premium lightweight aluminum material and components," Zhang Bo, Weiqiao Pioneering Chairman.