Self-driving truck firm Einride to go public via SPAC deal at $1.8 billion valuation

Reuters

Wed, November 12, 2025 astatine 5:09 AM CST 2 min read

(Reuters) -Swedish autonomous trucking institution Einride said connected Wednesday it has agreed to spell nationalist successful the U.S.​ done a merger with blank-check steadfast Legato Merger Corp III ‌in a woody valuing the institution astatine $1.8 billion.

The listing comes aft a question of electrical ‌vehicle startups went nationalist during the pandemic-era SPAC roar with the purpose of capitalizing connected the immense request for clean-energy vehicles and authorities incentives for the acquisition of battery-powered cars.

However, since past a fig of trucking and ⁠vehicle tech startups including Nikola,‌ Lordstown Motors, and Proterra person gone bankrupt owed to competitory pressures, operational challenges, accelerated currency pain owed to ‍high accumulation costs, and an inability to execute profitability.

Autonomous trucking firms are looking to automate shipping and logistics amid heightened request for quicker freight deliveries arsenic they question ​to commercialize self-driving technology, which faces crisp regulatory scrutiny.

With ‌the listing, Einride is seeking up to $100 cardinal of backstage concern successful nationalist equity to accelerate its growth. The woody is besides bolstered by the $100 cardinal it raised successful October from existing and caller organization investors.

Existing shareholders of Einride are expected to ain astir 83% of equity aft ⁠the woody closes and the company's existing ​management squad volition proceed to pb the firm.​

A SPAC is simply a ammunition steadfast that raises wealth done an IPO to merge with a backstage concern and instrumentality it public, ‍providing a quicker way ⁠to marketplace than a accepted IPO.

Founded successful 2016 and headquartered successful Stockholm, Sweden, Einride's concern is based connected self-driving exertion ⁠for freight trucks. The steadfast has implicit 25 endeavor customers including GE Appliances and has a ‌fleet of astir 200 electrical vehicles.

(Reporting by Zaheer Kachwala ‌in Bengaluru; Editing by Shailesh Kuber)