Swedish start-up Einride driverless electric truck is seen in Jonkoping, Sweden May 15, 2019. REUTERS
STOCKHOLM, Feb 24 (Reuters) – Swedish self-driving truck startup Einride said on Tuesday it had spun off its design business and sold a majority stake in the new company to Navisalma Design.
“Einride will retain a minority ownership stake in the company,” it said in a statement.
Navisalma Design is a newly formed design studio founded by Einride co-founder Linnea Kornehed, it said.
An Einride spokesperson said the divestment would not impact the firm’s plan to go public in the U.S. through a merger with blank-check firm Legato Merger Corp III in a deal valuing the company at $1.8 billion.
Reporting by Anna Ringstrom and Marie Mannes, editing by Terje Solsvik
