Swedish autonomous‑truck maker Einride will list on Nasdaq Wednesday, merging with SPAC Legato Merger Corp. III. The deal values the firm at roughly $1.35 billion pre‑money, a cut from the $1.8 billion announced in November and far below the $5 billion ceiling discussed with banks. The timing aligns with Elon Musk’s SpaceX IPO, which CEO Roozbeh Charli expects to shine a spotlight on deep‑tech ventures.

Einride chose the lower valuation to attract capital, keeping Capital Group and EQT Ventures as its biggest shareholders, followed by Alyeska Investment Group. The listing joins fellow driverless‑trucking firms Aurora Innovation and Kodiak AI, both of which posted weak post‑SPAC performances, highlighting valuation pressure in a sector still wrestling with high truck costs and sparse charging infrastructure.

Investors will watch whether Einride’s software‑centric model can scale faster than hardware‑heavy rivals. A successful debut could validate the market’s appetite for electric and autonomous freight solutions despite the industry’s slow diesel‑to‑electric shift. For now, the company secures a public platform to fund its rollout, but its share price will likely echo the mixed results seen in recent deep‑tech listings.