(Yicai) May 26 -- Chinese new energy heavy-duty truck startup Zeron has completed a USD200 million B2 financing round, lifting its cumulative fundraising over the past two months to USD400 million as competition in the fast-growing electric commercial vehicle sector intensifies.

The latest funding round drew participation from industrial investors, including Zijin Mining Group, Yankuang Capital Management under Shandong Energy Group, and Sanhua Holding Group. Several investment institutions, including Singaporean sovereign wealth fund Temasek Holdings and Asian venture lending firm InnoVen Capital, also joined the financing round, the Taicang-based company said today.

The participation of industrial investors is expected to support Zeron’s expansion in mine transportation, industrial logistics, and bulk commodity transportation, while international investors will strengthen the company’s global development capabilities, according to Zeron.

Founded in 2022, Zeron was co-founded by Huang Zehua and Zhang Hongsong, who previously worked for autonomous driving technology firm TuSimple and heavy-duty truck maker Sany Truck, respectively. The company has launched two mass-produced models, Jingzhe and Xiaoman, and said cumulative sales in the first four months of this year were five times those of the same period last year.

Zeron added that it continued improving operational efficiency amid rapid sales growth and achieved positive operating cash flow for the first time in the fourth quarter of last year.

In March, Zeron announced the completion of a CNY1.2 billion (USD176.8 million) financing round co-led by CATL Capital, a subsidiary of battery giant Contemporary Amperex Technology, autonomous driving chip developer Momenta, and Nio Capital, which is affiliated with electric vehicle startup Nio.

Going forward, Zeron said it will continue advancing large-scale deliveries, high-level autonomous driving research and development, and industrial application scenarios while accelerating the commercialization of new energy heavy trucks and autonomous driving technologies.

Editor: Emmi Laine