Einride bets $38M on EV charging as it scales electric trucking

Einride is betting $38 million on EV charging through its first acquisition as a public company, agreeing to acquire Flipturn in an all-stock deal. The Swedish electric and autonomous trucking firm said the purchase will expand its EV charging ecosystem as it scales its electric trucking business, with closing expected later this month. Flipturn employs 17 people and will continue operating with the same team. Founded in 2022, Flipturn raised $15.5 million in venture capital to build EV charging software that can communicate with any EV charger using the Open Charge Point Protocol, while monitoring infrastructure health and pulling in data such as battery levels, driving history, and routes. The platform can also integrate with on-site solar and energy storage systems. Einride CEO Roozbeh Charli called the deal a “decisive step” in U.S. scaling. Einride’s revenue driver is a fleet of 200 heavy-duty electric trucks operating for Heineken, PepsiCo, and Carlsberg Sweden across Europe, North America, and the United Arab Emirates. The company recently secured Amazon as a customer for its Saga AI-managed trucks via Amazon Relay.