Einride targets 1,500 trucks by 2028 with Tesla and DAF deals

Fleet path and third-party financing

Einride is targeting cash-flow breakeven in 2028 with between 1,500 and 2,000 trucks in operation. Roughly $800 million of potential long-term annual recurring revenue sits in joint business plans with customers.

“We are scaling with capital discipline. By financing fleet growth through asset-backed structures, we’re able to convert signed demand into operating revenue faster while minimizing dilution for our shareholders and executing towards our target to reach cash flow breakeven point in 2028,” said Anubhav Verma, chief financial officer.

Net loss widened to SEK 1.12 billion from SEK 887 million a year earlier. Non-cash charges accounted for most of the increase, including a SEK 636 million recapitalization expense tied to the business combination and a SEK 245 million share-based compensation charge related to the listing. Cash stood at SEK 748 million ($77 million) as of June 30.

The listing and business combination with Legato Merger Corp. III included an oversubscribed $113 million PIPE financing earmarked for expanding Saga AI coverage and accelerating deployments. The transaction valued Einride at a pre-money equity value of about $1.35 billion, according to the company’s business combination announcement .

Amazon ramp and autonomy progress

Amazon remains the anchor customer. Einride secured a deployment of 75 manual electric heavy-duty trucks across five U.S. locations in Amazon’s middle-mile network, disclosed in April following an initial trial. Management named the Amazon ramp first when explaining the second-half guidance.

Autonomy is running at a smaller scale. Driverless hours in contracted customer operations rose 64% to more than 5,400 as of June 30 across six autonomous deployments in the U.S. and Europe. Total electric distance planned through Saga AI reached 18.5 million miles.

DAF integration timeline

The DAF work starts with interfaces. Einride, DAF and Dutch applied research institute TNO will define and test the integration of Einride’s autonomous drive system into DAF’s electric truck platform through 2026. Software integration and commissioning are scheduled for 2027, with subsequent testing performed on DAF trucks. Type approval remains the gate for any Level 4 expansion onto public roads.

The XD and XF Electric models on that platform were jointly voted International Truck of the Year 2026.

“By leveraging DAF’s decades of manufacturing excellence and market strength, we can expedite the global scale-up of Einride’s autonomous technology,” said Henrik Green, chief technology officer. “This collaboration validates our vehicle-agnostic approach to autonomy.”

Roozbeh Charli, chief executive officer, pointed to progress on recurring revenue and continued investment in Saga AI, charging infrastructure and autonomous technology as the company begins life as a public company.

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