#autonomous trucks Tech News.
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The latest autonomous trucks news, distilled by AI into sharp ~100-word summaries. ByteBrief tracks autonomous trucks across dozens of tech sources and brings you only what matters, updated hourly. Tap any story for the full brief, or open the original source.
Swedish freight tech company Einride went public on the Nasdaq via a SPAC merger with Legato Merger Corp. III, valued at $1.35 billion. Shares surged over 100% on the first trading day, triggering a temporary trading halt. The company raised over $200 million, including $113 million from institutional investors.
Einride shares rose as much as 90% in the first day of trading on the Nasdaq under ticker ENRD. The autonomous EV freight trucking company went public via a SPAC merger with Legato Merger Corp. III, raising over $200 million. Einride operates 200 electric trucks and has $92 million in expected annual recurring revenue.
Swedish autonomous truck company Einride will debut on the Nasdaq today after completing a SPAC merger. The deal valued the company at a pre-money valuation of $1.35 billion.
Einride began trading on the Nasdaq via a SPAC merger with Legato Merger Corp III at a $1.35 billion pre-money valuation. That is down from the $1.8 billion announced in November and far below the $5 billion discussed in earlier IPO talks. CEO Roozbeh Charli accepted the lower valuation to attract better investors.
Aurora Innovation closed at $6.16, down 1.60%, after Uber sold 67.5 million shares at $7.10 per share on June 2. Trading volume hit 59.8 million shares, 132% above the three-month average. Shares have fallen 25% since May 14 and 38% since the 2021 IPO.
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