Autonomous electric freight trucking company Einride rose sharply in its first day of trading on the Nasdaq on Wednesday morning under ticker symbol ENRD. Shares climbed as much as 90% during Wednesday trading following the company's public debut. The Swedish company went public through a SPAC deal with Legato Merger Corp. III that raised over $200 million in gross proceeds, with Einride's pre-equity value standing at $1.35 billion upon final shareholder approval last week.
Einride Operates 200 Electric Trucks Across Seven Countries
Founded in 2016, Einride provides heavy-duty, cab-less autonomous EV trucks and freight services for driver-operated electric trucks. The company's technology can be licensed to third parties, including operational planning AI software and its autonomous driving system.
"In the majority of freight trucking uses cases in the future, electric and autonomous is going to be the cheapest options," said Roozbeh Charli, Einride CEO, in a "Squawk Box" interview on Wednesday.
Einride has 200 EV freight trucks operating on its platform. "You need to be cost efficient, and our customer deployments are already profitable today," Charli said. The company was named to the CNBC Disruptor 50 list three times, most recently in 2025.
Einride currently has over 30 enterprise customers across seven countries, with approximately $92 million in expected annual recurring revenue (ARR) from signed contracts and over $800 million in potential long-term ARR through joint business plans. The company has regulatory permits in the United States and Europe. Its current fleet of approximately 200 electric vehicles is used by customers including GE Appliances and Swedish online pharmacy company Apotea.
PepsiCo piloted use of Einride freight solutions in markets including Germany and Memphis, Tennessee. Heineken added EV freight routes between the Netherlands and Germany in 2024, and to Austria. Einride also has plans to deploy 300 electric trucks across Europe by 2030 with Mars.
Company Raised Over $200 Million Through SPAC Deal
Einride's pre-equity value had fallen to $1.35 billion upon final shareholder approval of its SPAC deal with Legato Merger Corp. III last week, lower than the $1.8 billion value set when the deal was first proposed last November.
The deal raised over $200 million in gross proceeds, with $113 million in PIPE capital from institutional investors, including Stockholm-based EQT Ventures.
"We spent the last five to six years really establishing the 30-plus customer contracts in operation in seven countries," Charli said. "We've proven out the product and tech with a large set of customers and now it is about pushing the throttle and scaling in these relationships, and in order to due that, we need to invest."
Einride Competes with Aurora Innovation and Kodiak AI in U.S. Market
Einride competes with autonomous trucking companies including Aurora Innovation, Kodiak AI, and fellow CNBC Disruptor 50 firm Waabi.
Aurora Innovation, which acquired Uber's autonomous tech group in 2020, has run autonomous freight routes between Dallas and Houston. Aurora recently started a 1,000-mile route between Fort Worth and Phoenix. Kodiak AI has operations linking Houston, Dallas and Oklahoma City. Aurora recently announced a deal with Volvo Autonomous Solutions to run a new 200-mile freight route between Dallas and Oklahoma City.
Berkshire Hathaway subsidiary McLane is planning to deploy self-driving trucking technology from Aurora Innovation on routes in Texas and across the U.S. Sun Belt by the end of the year.
"Autonomous is happening in the U.S. and the competition is definitely coming out of the U.S.," Charli said. "The more competition on the OEM market, the better for us. The development that happens on the OEM side benefits us."
Amazon Deploys 75 Einride Electric Trucks in Relay Network
Einride is deploying 75 manually operated electric heavy-duty trucks in Amazon's Relay freight network. The trucks will support Amazon's middle-mile network as part of Amazon Relay, the company's app for truck drivers that lets them book and haul Amazon loads, which Amazon launched in 2017. Trucks operating in the middle mile move orders between Amazon's fulfillment centers, sort centers, air facilities, and last-mile delivery stations.
The Einride EVs are projected to drive up to three million electric transport miles annually with zero-tailpipe emissions. Einride will also support charging infrastructure across five locations. Einride's proprietary optimization software, Saga AI, is being used to manage EV execution of select Amazon loads, including charging planning.
FAQ
What was Einride's stock performance on its first trading day?
Einride shares rose as much as 90% during trading on Wednesday morning following the company's Nasdaq debut under ticker symbol ENRD.
How much capital did Einride raise through its SPAC deal?
Einride raised over $200 million in gross proceeds through its SPAC deal with Legato Merger Corp. III, with $113 million in PIPE capital from institutional investors including Stockholm-based EQT Ventures. The company's pre-equity value stood at $1.35 billion upon final shareholder approval last week.
How many electric trucks does Einride currently operate?
Einride has 200 EV freight trucks operating on its platform across seven countries, serving over 30 enterprise customers including GE Appliances, Apotea, PepsiCo, and Heineken.
