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

Company Overview - Einride, a Swedish autonomous trucking company, is set to go public in the U.S. through a merger with Legato Merger Corp III, valuing the company at $1.8 billion [1] - Founded in 2016, Einride has $65 million of contracted annual recurring revenue (ARR), with approximately $45 million currently deployed [4] Financial Strategy - Einride aims to raise up to $100 million in private investment in public equity to accelerate growth, supported by an additional $100 million raised in October from investors including EQT Ventures [3] - The company has around $800 million of ARR equivalent in scaling plans with its customers [4] Market Context - The listing follows a trend of electric vehicle startups going public during the pandemic-era SPAC boom, driven by demand for clean-energy vehicles and government incentives [1] - Autonomous trucking firms are focusing on automating shipping and logistics to meet the increasing demand for faster freight deliveries while managing tariff pressures [2] Ownership Structure - After the merger, existing shareholders, including EQT and Ericsson, are expected to retain approximately 83% of the equity, with the current management team continuing to lead the company [4]