ESG Today writes that 2022-founded Windrose Technology develops zero-emissions and intelligent long-haul trucks for markets such as China, Europe and the US. The company's first electric truck has an estimated range of 670 kilometers when hauling 49 tons and it can charge 400 km worth-of range in around 36 minutes.

As per Windrose officials, proceeds from the funding round will be used to continue the development and testing of the company's long-distance trucks, while setting up a production facility and the fast-charging infrastructure required to operate them optimally.

HSBC and HITE Hedge Asset Management are among the investors who participated in the Series B funding round.

Ray Liang, Head of Portfolio Company Coverage, Innovation Banking, Hong Kong, HSBC, added that "electric vehicle companies are revolutionizing transportation and logistics with their latest technology in reducing emissions and optimizing energy efficiency. In recent years, there has been a shift towards electrification in the passenger vehicle market. This transition is expected to expand to commercial vehicles, with adoption rapidly growing in heavy-duty trucks."