Swedish autonomous truck company Einride plans to go public in the U.S. through a SPAC merger with Legato Merger Corp, valuing the firm at $1.8 billion. The listing on the New York Stock Exchange marks a major step for the company aiming to transform global freight with electric and self-driving vehicles.
A faster path to market
By merging with a Special Purpose Acquisition Company (SPAC), Einride bypasses the longer and costlier traditional IPO process. The deal, expected to close in the first half of 2026, could generate about $219 million in gross proceeds, excluding potential redemptions and transaction expenses.
Einride also plans to raise up to $100 million through private investment in public equity (PIPE) financing to fuel its expansion. The funds will support scaling production, advancing technology, and expanding strategic partnerships. This move follows a $100 million funding round led by existing backers EQT Ventures and IonQ.
Redefines freight transport
Founded in 2016 by Robert Falck, Filip Lilja, and Linnea Kornehed, Einride is building a sustainable freight ecosystem that brings together autonomous driving, electrification, and data-driven logistics. Its fleet includes heavy-duty electric trucks managed through Saga, a proprietary platform for route planning and optimisation.
The company’s model addresses key industry challenges, reducing emissions and improving efficiency, by deploying electric, autonomous vehicles at commercial scale.
Positioned for global growth
Headquartered in Austin, Texas, Einride has expanded quickly across Europe and North America, supported by $500 million raised in 2022. The planned SPAC listing represents the company’s next growth phase, enabling broader commercialisation and manufacturing scale-up.
If successful, Einride’s public debut would make it one of the few European deep-tech mobility startups to achieve a major U.S. public listing, strengthening its role as a frontrunner in the shift toward autonomous, electric freight transport.
Roozbeh Charli, CEO of Einride, said: “Today marks a defining moment for Einride and for the future of freight technology. We’ve proven the technology, built trust with global customers, and shown that autonomous and electric operations are not just possible, but better. This transaction positions us to accelerate our global expansion and continue to deliver with speed and precision for our customers. The foundation is built, the demand is clear, and our focus is on execution and delivering the future of freight.”
Eric Rosenfeld, chief SPAC Officer of Legato, said: “This transaction with Einride aligns with our vision to bring industry-leading, innovative technology to the public markets. Einride’s proven customer relationships, regulatory achievements, and technology platform position the Company to be a leader in the transformation of the freight industry. We believe that the market fundamentals are strong, the timing is right, and Einride has the operational excellence to capitalise on this massive shift in how goods move around the world.”
