Swedish EV truck firm Einride has signed a definitive agreement to acquire U.S.-based EV charging and energy management software company Flipturn, Inc. in an all-stock transaction valued at $38.4 million. The acquisition marks one of the most significant consolidation moves in the heavy-duty electric trucking industry and is expected to close by the end of July 2026, subject to customary closing conditions.
Key Details of the Acquisition
The deal is structured entirely as a stock transaction. Flipturn shareholders will receive American Depositary Shares (ADSs) issued by Einride. The share allocation will be based on Einride’s volume-weighted average share price since its Nasdaq listing in June 2026. The agreement also includes additional earnout incentives tied to the achievement of specific business milestones.
Why the Acquisition Matters
With this acquisition, Swedish EV truck firm Einride will add more than 250 megawatts of managed EV charging capacity to its operations, more than doubling its existing energy management portfolio. The move also strengthens the company’s ambition to build North America’s largest heavy-duty EV charging network.
Einride CEO Roozbeh Charli said the merger enables the company to become the industry’s first provider with a fully vertically integrated electric freight technology stack, combining electric trucks, autonomous technology, charging infrastructure, and AI-powered fleet management under one platform.
Flipturn’s Software Strengthens Saga AI Platform
Founded in 2022, Flipturn specializes in EV charging and energy management software that communicates with chargers using the Open Charge Point Protocol (OCPP), the industry standard for charger-management systems.
Its software continuously monitors charger health while optimizing charging schedules using real-time data such as battery state of charge, driving history, delivery routes, electricity tariffs, on-site solar generation, and energy storage systems.
Following the acquisition, Flipturn’s open-protocol platform will be integrated into Einride’s Saga AI software. This integration is expected to improve automated power distribution, reduce electricity costs through time-of-use optimization, increase charger uptime, and enhance fleet charging efficiency.
Flipturn Team to Remain Intact
Flipturn was co-founded by Katie Siegel and has grown into a 17-member team after raising approximately $15.5 million in venture funding. Einride confirmed that the entire Flipturn workforce will remain with the company and continue supporting its existing commercial fleet customers after the acquisition.
Strengthening North American Operations
The acquisition significantly expands Swedish EV truck firm Einride‘s North American charging capabilities. While the company is globally recognized for its innovative cabless autonomous truck concepts, its commercial operations currently focus on a fleet of approximately 200 heavy-duty electric trucks serving major customers including Heineken, PepsiCo, Carlsberg Sweden, and Amazon.
By combining advanced charging software with its electric freight ecosystem, Swedish EV truck firm Einride aims to accelerate large-scale fleet electrification, improve energy efficiency, and simplify charging management for commercial transport operators.
Related Articles:
