Plus Raises $200M in Funding

Plus (formerly, a Cupertino, Calif.-based provider of self-driving truck technology, completed a $200m round of funding.

The round was led by Guotai Junan International, with participation from CPE, Wanxiang International Investment, GSR Ventures, Sequoia, China Growth Capital, Lightspeed, Mayfield, SAIC Capital, and Full Truck Alliance.

The company plans to use the new funds to accelerate the global commercialization and deployment of its automated trucking system, grow the talented engineering team, and continue the development of its automated driving technology.

As Plus begins mass production in 2021, the company will develop a sales and support network to help fleets integrate the Plus automated trucking system into their daily operations. Plus will also scale deployments in the U.S. and China, and expand internationally to Europe and other parts of Asia.

Led by David Liu, CEO and Co-founder, Plus specializes in providing full-stack self-driving technology to enable large scale autonomous commercial transport. The company is currently working with some of the leading truck manufacturers, largest shippers, and top fleet operators to begin mass production of its automated driving system.

Automated trucks powered by the Plus automated driving system will start mass production this year, and over 10,000 units have been pre-ordered. In the next few years, the company expects to have its automated driving system deployed on tens of thousands of trucks across the U.S., China, and Europe.