Einride
Einride announces $500M for autonomous, electric vehicle development
FreightTech startup Einride announced Wednesday it had raised $500 million in financing through a combination of a Series C equity raise and a debt facility.
The Sweden-based company raised $200 million in the Series C with the Swedish pension fund AMF, EQT Ventures, Northzone, Polar Structure, Norrsken VC and Temasek, among others participating in the round. In addition, Einride said it secured a $300 million debt facility led by Barclays Europe.
“The time is now to act on not only developing...
https://www.freightwaves.com/news/einride-announces-500m-for-autonomous-electric-vehicle-development
GE Appliances to power up electric truck test
GE Appliances (GEA) is deploying six electric trucks at three locations as part of the first phase of an electric vehicle trial with Einride. GEA will use the trucks in Georgia, Kentucky and Tennessee with plans to add six more EV trucks later this year.
The companies first announced a partnership in October 2021 that included both EVs and trials of Einride’s autonomous Pod cargo transport system.
“We’ve adopted many environmentally sustainable manufacturing practices to reduce the carbon...
https://www.freightwaves.com/news/ge-appliances-to-test-electric-trucks-from-einride
Maersk to deploy 300 Einride electric trucks
Less than six months after opening a U.S. operation and launching initial pilots in North America, Swedish freight technology company Einride has inked a deal with global transportation provider A.P. Møller – Maersk.
The five-year agreement calls for Maersk to deploy 300 Einride Class 8 electric trucks (E-trucks), with the first delivery taking place in 2023. Maersk will use the vehicles in its North American warehousing, distribution and transportation business. The companies estimate the...
https://www.freightwaves.com/news/maersk-to-deploy-300-einride-electric-trucks
Einride’s long-term sustainability, near-term solution ideal for EQT investment
On Nov. 3, Einride officially announced its entry into the U.S. market through a pilot program with GE Appliances in Kentucky. While the company’s SAE Level 4 driverless Einride Pod has been running in Europe since 2019, the expansion into the U.S. is part of an aggressive push that company executives hope will transform freight movement on both sides of the Atlantic.
“The technology is here,” Robert Falck, founder and CEO of Einride, told Modern Shipper at the time. “It’s definitely happening...
Einride founder relishes chance to compete in US freight market
Swedish technology and autonomous vehicle company Einride is officially operating in the U.S. and has launched a line of products designed for the U.S. market in conjunction with the announcement.
Known for the driverless Einride Pod — a cabless box on wheels — the company is adapting the model for the U.S. market through its new range of global products including the Einride Saga operator system. The U.S. will see a local version of the Pod as well as a Flatbed Pod.
In addition, Einride...
https://www.freightwaves.com/news/einride-founder-relishes-chance-to-compete-in-us-freight-market
Truck Talk: Cost of change edition
This week, we look at the costs associated with changing corporate captains; tiremakers rolling into trucking autonomy and electrification, and static-free AM/FM radio in the Freightliner Cascadia.
The cost of changeLeadership change can be expensive, both to remove a current CEO and to hire a new one. Here are three recent example as startups and early stage growth companies onboard operating experience in place of visionary or slow-moving leaders:
Lordstown Motors Corp.The ouster of Steve...
https://www.freightwaves.com/news/truck-talk-cost-of-change-edition
Cabless pod developer Einride raises $110M from new and existing investors
Sweden-based Einride, whose driverless and cabless freight pods run on electricity, has raised $110 million in a Series B funding round.
First-time investors include Soros Fund Management LLC; Singapore’s Temasek Holdings Ltd.; Maersk Growth, the corporate venture arm of A.P. Moller – Maersk; and U.K. early-stage venture capital fund Northzone.
Existing investors EQT Ventures, Plum Alley, Norrsken VC, Ericsson and NordicNinja VC also participated in the round.
“With our global reach and...