Einride to Acquire Flipturn, Creating North America's Largest Heavy-Duty Charging Network
Einride will acquire Flipturn in an all-stock deal, adding 250+ MW of charging capacity and building North America's largest heavy-duty electric charging network.
- $38.4 million
- over 250 MW
- 19 million
- approximately $10 per share
What Happened
Einride AB has entered into a definitive agreement to acquire Flipturn, Inc., a developer of charging and energy management software for electric fleets, in an all-stock transaction. The acquisition is expected to lay the foundation for North America's largest heavy-duty EV charging ecosystem, connecting available charging capacity with fleets making the shift to electric. According to Einride, the deal will make it the first company in the industry with a fully vertically integrated electric freight technology stack, including charge point management, energy systems, and the brokerage layer that connects fleets to third-party charging networks.
Flipturn adds an established customer base with over 250 megawatts of charging capacity, including some of North America's largest truckload transportation, autonomous, and last mile delivery fleets. This more than doubles Einride's existing energy under management. The acquisition strengthens Einride's U.S. presence and customer offering as the Company continues to scale its North American operations.
“"This acquisition is a decisive step in our U.S. scaling strategy. Flipturn will further strengthen Einride's software layer for electric heavy-duty freight optimization and improve our customer offering by adding more cost efficient, more reliable, and accessible charging to our customers. With Flipturn, Einride is expected to become the first company in the industry with a fully vertically integ”
Saga AI, Einride's AI-driven platform for optimizing electric freight, has supported over 19 million electric miles worldwide, continuously optimizing vehicle utilization, energy consumption, and operational performance. Flipturn will strengthen Einride's software layer for charging infrastructure: using AI to predict charging times, optimize power delivery, and adapt to each fleet's vehicle and battery behavior over time, as well as keeping chargers online, handling driver access and payments (eMSP), and orchestrating on-site controllers. Flipturn's energy management technology also helps reduce grid energy costs, including time-of-use tariffs and peak demand charges, enabling a lower total cost of energy. By aggregating charging demand at scale, Einride can negotiate more competitive access to third-party charging networks.
“"Einride has spent a decade at the forefront of autonomous and electric freight, and that technical depth is what drew us to them. Our customers will keep the same team and platform they rely on today, with Einride's technology and scale behind us to deliver an even better charging experience."”
Einride's first trading day on Nasdaq; VWAP reference period begins
VWAP since June 10 is approximately $10 per share at market close
Acquisition announced
Anticipated closing, subject to conditions and approvals
The purchase price consideration is $38.4 million, subject to adjustment, to be paid in Einride American depositary shares (ADSs) representing ordinary shares at closing. The number of ADSs will be determined by the volume-weighted average share price from June 10, 2026, up to two trading days before closing. Flipturn stockholders are also entitled to earnout consideration in additional ADSs upon achieving certain milestones. Completion is expected in July 2026, subject to customary closing conditions and regulatory approvals.
Previously from Einride AB
Einride completed its business combination with Legato Merger Corp. III and began trading on Nasdaq under the ticker ENRD on June 10, 2026. The acquisition follows the company's go-public milestone, and the stock-based deal references Einride's ADS trading price since its debut.
- Einride Completes Business Combination, Set to List on Nasdaq Under Ticker ENRD
- Einride's SPAC Merger with Legato Merger Corp. III Approved by Shareholders
Background drawn from MotorClaw's earlier coverage of Einride AB's official releases.
Why this matters
This acquisition consolidates the electric freight industry, giving Einride a fully integrated software stack for charging, energy, and fleet brokerage. For fleets and shippers, it means more reliable, cost-efficient charging and better access to third-party networks through aggregated demand. Flipturn's existing customers keep their platform while gaining Einride's AI technology and scale.
Terms in This Story
- ADS
- American depositary shares; shares of a foreign company's stock traded on a U.S. exchange, representing ownership in the company.
- eMSP
- e-mobility service provider; a company that manages EV charging services such as driver access and payments.
- VWAP
- Volume-weighted average price; the average trading price of a stock over a period, weighted by trading volume.
- earnout
- Additional payment to sellers if the acquired company achieves specified future performance milestones.
Summarised from the linked release; details can be imperfect — always verify against the original source.