Einride, the Swedish company building autonomous electric trucks, is set to begin trading on the Nasdaq under the ticker ENRD on Wednesday. The timing is either brilliant or terrible, depending on how you feel about competing for investor attention with the most hyped IPO in market history.
SpaceX’s public listing, targeting a valuation somewhere between $1.75 trillion and $1.8 trillion, is expected around June 12. Einride’s debut lands in the same window, which means a company valued at $1.35 billion is sharing the spotlight with one worth roughly 1,300 times more.
How Einride got here
Einride is going public through a merger with Legato Merger Corp. III, a special purpose acquisition company. For those unfamiliar, a SPAC is essentially a blank-check company that raises money through its own IPO, then uses that cash to merge with a private company and take it public.
The deal was first announced on November 12, 2025, with an initial valuation of $1.8 billion. By June 2026, that number had been revised downward to $1.35 billion.
