Einride Shares Climb After Partnering with Nvidia

Dow Jones09-21 19:13

Shares of Einride were higher after the company said it will partner with Nvidia to accelerate automation efforts across its freight network.

The stock rose 18%, to $4.64, in premarket trading Monday. The Swedish autonomous truck company made its trading debut on Nasdaq in June, after completing a merger with a blank-check firm.

Einride--which designs, builds and operates technologies for autonomous and electric freight networks--said before the bell that Nvidia will provide the underlying compute platform and artificial-intelligence tools for its autonomous-driving systems.

The collaboration will help to scale Einride's fleet of electric trucks to up to 2,000 vehicles by 2028. The company currently operates hundreds of electric trucks for major shippers across the U.S., Europe and the Middle East, it said.

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