Einride

Einride is a Swedish startup developing technology for both autonomous and electric trucks. Its product portfolio includes the freight-hauling autonomous Class 8 trucks “Pods,” electrified commercial mobility solutions “E-trucks,” electric semi-trailer “Einride Trailer,” its operating system “Saga”—an IoT-based system that runs through Einride’s vehicles (also offered to third parties), a developer application programming interface called “Einride Extend”; and charging stations called “Einride Stations.” The company received a permit from the Swedish Transport Agency in March 2019 to run the AETs on a public road in Jönköping, Sweden in what was reportedly the first such public road test permit issued globally. The company also received approval from the National Highway Traffic Safety Association (NHTSA) to operate Pods without a safety driver on US roads in June 2022, and announced the launch of its trucks in Germany in September 2022.

Key customers and partnerships

Einride has several commercial contracts with local businesses including DB Schenker (November 2018), Lidl (April 2020), Oatly (May 2020; extended to include US in June 2022), and Electrolux (February 2021). Its other partners in Europe include AB InBev (to deploy trucks in Benelux region—Belgium, the Netherlands, and Luxembourg; December 2022), PepsiCo snack-food subsidiary, Walkers (for deployments in the UK; April 2023), REWE supermarket chain (for deployments in Germany; May 2023), postal services company PostNord (for deployments in Sweden and Norway; June 2023), confectionery and pet food maker Mars (for deployments in Europe; January 2024), and Heineken (for deployments in the Netherlands and Germany; February 2024).

The company expanded its footprint to the US in October 2021, by partnering with US home appliance manufacturer GE Appliances (GEA) to deploy its autonomous trucks at GEA’s facilities in Kentucky, Tennessee, and Georgia. In November 2023 , the two companies launched full-time autonomous truck operations in Tennessee. Its other partners in the US include shipping company Maersk (March 2022), and plant-based meat company Beyond Meat (August 2022).   In June 2022, the company also announced plans to bring autonomous pods to Dallas-Fort Worth, Texas for partnering merchants. 

In May 2023 , the company signed a Memorandum of Understanding with the United Arab Emirates (UAE) Ministry of Energy and Infrastructure to make Einride’s full-freight mobility offering (which includes 2,000 electric trucks, 200 autonomous trucks, and eight charging stations with over 500 charging points) available across the UAE’s “Falcon Rise” grid, a stretch of 550 km (341 miles) across Abu Dhabi, Dubai, and Sharjah. The freight ecosystem will be optimized and monitored using the “Einride Saga” platform.

Einride also has truck purchase agreements with automakers including Mercedes-Benz (120 trucks for deployments in Europe; December 2021) BYD (200 trucks for US deployments; February 2022) , Scania (110 trucks for deployment in Europe; May 2022), and DAF Trucks (50 electric trucks; May 2023) which would be retrofitted with Einride’s autonomous/operating software. The company also has a partnership with the tire-making company Bridgestone (August 2021) to integrate its smart-sensing tire technology into Einride’s vehicles.

Funding and financials

In March 2021, Einride announced that it is exploring the opportunity for a public listing through a special purpose acquisition company (SPAC). Then in May 2021, the company raised USD 110 million in a Series B funding round to scale up deployments in Europe to reach the UK, Germany, France, Nordics, and Benelux and also expand to the US in 2021. At the time, Einride was also looking to establish its US headquarters in Austin, Texas ahead of expansion. In December 2022, the company raised USD 500 million in equity and debt financing to fund geographical expansion into new and existing markets across Europe and North America.