Einride announced a SPAC merger with Legato Merger Corp III valuing the Swedish autonomous-electric freight company at $1.8 billion — six weeks after closing a $100 million round led by EQT Ventures. The deal targets roughly $219 million in proceeds plus a potential $100M PIPE, with an NYSE debut planned for H1 2026 under ticker ENRD.

The fundamentals behind the headline: a $45M annual-recurring-revenue run rate, $65M in contracted business, 200 heavy-duty electric trucks across Europe, North America and the UAE, enterprise clients including PepsiCo, Heineken, Mars and Carlsberg — and a software layer (Saga) that bundles routing, fleet management and autonomous coordination. In late 2025, an Einride truck completed what the company calls the first fully autonomous cross-border freight run, Sweden to Norway with PostNord.

Why European fleet readers should care about a financing event: Einride’s ‘capacity-as-a-service’ model (truck + software + charging for a monthly fee) is the most developed alternative to buying e-trucks outright — and a listed Einride will have the capital to offer it at scale in Europe. If your electrification blocker is capex or residual risk rather than operating economics, the Einride model is the workaround to evaluate. We track its European deployment pace post-listing.