Swedish self-driving truck startup Einride said on Tuesday it has spun off its internal design division and sold a majority stake in the newly formed entity to Navisalma Design, a studio founded by Einride co-founder Linnéa Kornehed Falck and partners.
Einride will retain a minority ownership stake in the new company, according to a statement, and has entered into a three-year retainer agreement for brand, design, and marketing services. The divestment was completed through a business transfer at fair market value based on an independent third-party valuation.
The company said separating the design organization — which covers product, industrial, and creative disciplines — would allow the team to expand its services beyond Einride while continuing to support the startup’s operations. Demand for external design work had increased, prompting the move to establish an independent structure.
“By carving out the design organization and partnering with Navisalma Design, we’re creating a genuine win-win,” Chief Executive Roozbeh Charli said. “We’re proud of what we’ve built together, and excited for what the team will be able to achieve in this next chapter with Navisalma Design.”
Einride added that the transaction will not affect its plan to go public in the United States through a merger with special purpose acquisition company Legato Merger Corp III, a deal that values the company at about $1.8 billion. An Einride spokesperson said the strategic shift is intended to strengthen both organizations while preserving access to the same design expertise.