Swedish autonomous electric vehicle (EV) trucking company Einride plans to go public on the New York Stock Exchange through a merger with special purpose acquisition company Legato Merger Corp III, valuing the company at $1.8 billion.
Announced on Wednesday, the transaction is expected to raise approximately $219 million in gross proceeds, with the company seeking up to an additional $100 million from private investment in public equity from institutional investors.
Trading is anticipated to begin in the first half of 2026.
Roozbeh Charli, Einride CEO, described the milestone as “a defining moment” for both the company and 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,” Charli said. “This transaction positions us to accelerate our global expansion and continue to deliver with speed and precision for our customers.”
Founded in 2016, Einride operates one of the world’s largest fleets of heavy-duty electric trucks and has developed proprietary autonomous driving and logistics planning technology.
The company maintains a US headquarters in Austin, Texas, and currently serves over 25 customers across seven countries, including GE Appliances and Swedish online pharmacy Apotea.
Einride’s fleet of roughly 200 electric vehicles has accumulated more than 11 million electric miles and completed over 350,000 shipments.
Einride reported a contracted annual recurring revenue (ARR) base of $65 million and over $800 million in potential long-term ARR through joint business plans with customers.
Its platform combines Freight-Capacity-as-a-Service and Software-as-a-Service offerings, providing end-to-end freight services and licensing of its autonomous and AI-powered planning systems.