Einride is buying 500 Tesla Semis, and Amazon owns a piece of the buyer
Einride is buying 500 Tesla Semis, and Amazon quietly owns a slice of the company that will run them. The Swedish electric-trucking firm said on Tuesday it will deploy the 500 electric big rigs for Amazon and other customers. It called the order the largest Tesla Semi deployment in the world to date. Einride announced the order through its Saga AI fleet platform.
The stake is the part Einride did not put in the press release. Amazon holds warrants for 25.2 million Einride shares, about 12 percent of the company, GeekWire reported, citing regulatory filings. Those warrants vest as Amazon buys freight services. Todd Bishop wrote that the warrants appeared on Einride’s books for the first time in its half-year report. That report was its first since the June listing.
The terms had been public but buried. Einride’s prospectuses refer to Amazon only as “the Specified Party,” GeekWire noted....
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