Autonomous EV trucker Einride to go public in SPAC at $1.8 billion worth

Autonomous EV freight trucking firm Einride is planning to go public on the New York Inventory Alternate by means of a SPAC cope with Legato Merger Corp. III, a clean examine firm, valuing it at $1.8 billion.

The deal is predicted to lift $219 million in gross proceeds, and as much as an extra $100 million in PIPE capital from institutional traders, and hit the market throughout the first half of 2026.

In asserting its plans, the Stockholm, Sweden-based firm reported a contracted annual recurring income base of $65 million and over $800 million in potential long-term ARR.

Based in 2016, Einride has over 25 clients throughout seven international locations, and regulatory permits in the US and Europe. Its present fleet of roughly 200 electrical automobiles is utilized by clients together with GE Home equipment and Swedish on-line pharmacy firm Apotea.

“As we speak marks a defining second for Einride and for the way forward for freight expertise,” stated
Roozbeh Charli, CEO of Einride, in a launch. “We have confirmed the expertise, constructed belief with world clients, and proven that autonomous and electrical operations will not be simply attainable, however higher. This transaction positions us to speed up our world enlargement and proceed to ship with pace and precision for our clients,” stated Charli, who took over the CEO publish from co-founder and former CEO Robert Falck final Could.

Einride has made the CNBC Disruptor 50 checklist for 3 consecutive years, rating No. 24 in 2025.

Freight trucking within the U.S. and elsewhere, estimated by Einride at a $4.6 trillion market, is each carbon-intensive and inefficient. Einride’s expertise is designed to cut back emissions at scale and show electrical freight is viable each technologically and economically.

PepsiCo is among the many firms that has been piloted use of Einride freight options, in markets together with Memphis, Tennessee, and in Germany. Heineken added EV freight routes between the Netherlands and Germany in 2024, and to Austria this 12 months. Einride additionally has plans to deploy 300 electrical vans throughout Europe by 2030 with Mars.

So far, Einride gives freight providers for each driver-operated electrical vans and heavy-duty autonomous EV vans. Its expertise might be licensed to 3rd events, each operational planning AI software program and its autonomous driving system.

In Could of final 12 months, Einride signed a cope with DP World to deploy the most important autonomous EV fleet within the Center East, on the main UAE port, Jebel Ali, one of many world’s largest transport factors.

Whereas a lot of its offers to this point are for EV and never autonomous expertise, within the U.S. it marked a 12 months of autonomous operations with GE Home equipment in 2024, and started autonomous freight shipments with Swedish on-line pharmacy firm Apotea, Europe’s first each day autonomous freight journeys.

The U.S. is the corporate’s second-largest market and it plans to proceed to put money into the nation to speed up deployment of its autonomous techniques. In all, Einride reviews over 1,700 driverless hours in contracted buyer operations, over 11 million electrical miles pushed, and over 350,000 executed shipments.

It competes with autonomous trucking firms together with Aurora Innovation and fellow Disruptor Waabi, which lately employed Uber Freight CEO and founder Lior Ron as its chief working officer.

“This transaction with Einride aligns with our imaginative and prescient to convey industry-leading, modern expertise to the general public markets,” stated Eric Rosenfeld, chief SPAC officer of Legato, within the launch. “Einride’s confirmed buyer relationships, regulatory achievements, and expertise platform place the Firm to be a frontrunner within the transformation of the freight {industry}.”