Autonomous EV freight trucking company Einride is planning to go public on the New York Stock Exchange through a SPAC deal with Legato Merger Corp. III, a blank check company, valuing it at $1.8 billion.

The deal is expected to raise $219 million in gross proceeds, and up to an additional $100 million in PIPE capital from institutional investors, and hit the market during the first half of 2026.

In announcing its plans, the Stockholm, Sweden-based company reported a contracted annual recurring revenue base of $65 million and over $800 million in potential long-term ARR.

Founded in 2016, Einride has over 25 customers across seven countries, and 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.

“Today marks a defining moment for Einride and for the future of freight technology,” said
Roozbeh Charli, CEO of Einride, in a release. “We’ve proven the technology, built trust with global customers, and shown that autonomous and electric operations are not just possible, but better. This transaction positions us to accelerate our global expansion and continue to deliver with speed and precision for our customers,” said Charli, who took over the CEO post from co-founder and previous CEO Robert Falck last May.

Einride has made the CNBC Disruptor 50 list for three consecutive years, ranking No. 24 in 2025.

Freight trucking in the U.S. and elsewhere, estimated by Einride at a $4.6 trillion market, is both carbon-intensive and inefficient. Einride’s technology is designed to reduce emissions at scale and prove electric freight is viable both technologically and economically.

PepsiCo is among the companies that has been piloted use of Einride freight solutions, in markets including Memphis, Tennessee, and in Germany. Heineken added EV freight routes between the Netherlands and Germany in 2024, and to Austria this year. Einride also has plans to deploy 300 electric trucks across Europe by 2030 with Mars.

To date, Einride provides freight services for both driver-operated electric trucks and heavy-duty autonomous EV trucks. Its technology can be licensed to third parties, both operational planning AI software and its autonomous driving system.

In May of last year, Einride signed a deal with DP World to deploy the largest autonomous EV fleet in the Middle East, at the major UAE port, Jebel Ali, one of the world’s largest shipping points.

While many of its deals to date are for EV and not autonomous technology, in the U.S. it marked a year of autonomous operations with GE Appliances in 2024, and began autonomous freight shipments with Swedish online pharmacy company Apotea, Europe’s first daily autonomous freight trips.

The U.S. is the company’s second-largest market and it plans to continue to invest in the country to accelerate deployment of its autonomous systems. In all, Einride reports over 1,700 driverless hours in contracted customer operations, over 11 million electric miles driven, and over 350,000 executed shipments.

It competes with autonomous trucking companies including Aurora Innovation and fellow Disruptor Waabi, which recently hired Uber Freight CEO and founder Lior Ron as its chief operating officer.

“This transaction with Einride aligns with our vision to bring industry-leading, innovative technology to the public markets,” said Eric Rosenfeld, chief SPAC officer of Legato, in the release. “Einride’s proven customer relationships, regulatory achievements, and technology platform position the Company to be a leader in the transformation of the freight industry.”