Autonomous electric trucks are coming to Austin, Texas. And a company in Sweden is behind it.
What’s happening:
- Sweden based autonomous vehicle company Einride has won a new approval from the National Highway Traffic Safety Administration to be able to operate their autonomous electric trucks on public roads in Austin, Texas
Why it matters:
- This is the first regulatory approval to operate on public roads that Einride has ever been granted in the state of Texas
Going deeper:
- The new approval from the National Highway Traffic Safety Administration will allow Einride to operate their vehicles on public roads without a human driver on board and one remote operator supervising each ride
- Einride has already previously received approvals to operate their autonomous electric trucks in other states in America including Arizona, Colorado, South Carolina and Tennessee
The intrigue:
- Einride previously entered into a business combination with Legato Merger Corp III (NYSE: LEGT) in a SPAC deal that values Einride at roughly $1.8B USD
