Einride Advances SPAC Listing Plan and Lands Amazon Freight Deal in Strategically Important Week

Einride, a Swedish freight-tech company focused on electrified and autonomous trucking, featured prominently this week as it advanced plans to go public via a SPAC merger and expanded its U.S. presence with Amazon. This recap highlights the company’s capital plans, growth metrics, and a major new commercial agreement.

Einride filed a Form F-4 registration statement with the U.S. SEC for its proposed business combination with Legato Merger Corp. III, aiming for a Nasdaq listing of its ADSs under the ticker ENRD in the second quarter of 2026. The transaction implies a pre-money equity valuation of $1.35 billion and is structured to deliver about $333 million in gross proceeds, subject to approvals and closing conditions.

The capital package includes an oversubscribed $113 million PIPE from new and existing investors and up to $220 million from Legato’s cash-in-trust before redemptions and expenses. Einride plans to use the funds to accelerate global expansion of its Freight-Capacity-as-a-Service platform, which combines a large electric heavy-duty truck fleet, autonomous vehicles, AI optimization software, and charging infrastructure.

The company also intends to expand licensing of its Einride Driver autonomous stack and Saga fleet management software to third parties and OEMs, diversifying its revenue base beyond owned-fleet operations. Einride reports more than 30 enterprise customers across seven countries, with approximately $92 million in expected ARR from signed contracts and over $800 million in potential long-term ARR via joint business plans.

Revenue is projected to grow from SEK 388.4 million in 2024 to SEK 457.8 million in 2025, reflecting heavy investment in scaling operations, technology, and infrastructure ahead of public-market entry. These figures underscore a business still in a build-out phase, where capital intensity and execution on backlog will be key metrics for future investors.

Separately, Einride signed a U.S. agreement to deploy 75 of its heavy-duty electric trucks into Amazon’s Relay freight network, deepening its presence in a major e-commerce logistics system. Einride will retain ownership and operational control of the vehicles, build and operate charging infrastructure at five U.S. sites, and manage the fleet via its Saga AI software platform.

Amazon’s Relay drivers will access the trucks through the existing gig-hauling app, while Amazon avoids capex on vehicle purchases as it advances its 2040 net-zero emissions target. The deal does not include Einride’s autonomous, cab-less pod trucks, keeping the focus on commercial-scale electrified freight rather than autonomy at this stage.

For Einride, the Amazon partnership provides a high-visibility reference customer, incremental recurring revenue from fleet-as-a-service and charging operations, and a live showcase of scalability within one of the world’s largest logistics networks. Taken together, the SPAC progress and the Amazon deployment mark a strategically important week for Einride as it positions for public markets and broader enterprise adoption of its electrified freight solutions.