Einride to Acquire Flipturn for $38 Million to Expand EV Charging Network

Swedish electric and autonomous trucking company Einride has agreed to acquire EV charging startup Flipturn in an all-stock deal worth $38 million.

The acquisition, expected to close this month, will expand Einride's EV charging ecosystem as the company scales its electric trucking business. Flipturn, which employs 17 people, will continue to operate with its existing team.

Founded in 2022, Flipturn has developed a charging software platform capable of communicating with any EV charger via the Open Charge Point Protocol standard. The software monitors charging infrastructure health and collects data on vehicle battery levels, driving history, and routes to help companies manage charging more efficiently.

Einride CEO Roozbeh Charli stated the acquisition is a "decisive step in our U.S. scaling strategy." The deal also aims to make Einride a more vertically integrated company, enabling it to offer customers not only electric trucks but also the necessary charging software for efficient and reliable operation.