Swedish Einride aims for New York Stock Exchange listing

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Swedish Einride aims for New York Stock Exchange listing
Photo: Henrik Montgomery/TT

The Swedish manufacturer of self-driving electric trucks, Einride, aims to list its shares on the New York Stock Exchange.

The listing is planned to take place next year, via a so-called Spac company, a listed shell company that can be used to get to the stock exchange quickly.

The deal values Einride at $1.8 billion, equivalent to 17 billion kronor, writes the Wall Street Journal.

In connection with the listing, the company aims to raise several hundred million dollars in new capital to finance the development of the trucks.

Einride was started in 2016 and had revenues of SEK 458 million last year. The fleet consists of approximately 200 trucks sold so far. Among the major owners is the Swedish venture capital company EQT.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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