Electra AI, the former Electra Vehicles, entered a business combination with Iron Horse Acquisition II Corp. (NASDAQ: IRHO) on April 21, 2026. The transaction values Electra at roughly $250 million, including earn‑out targets, and will result in a Nasdaq‑listed entity under the ticker AIBR. The combined company is expected to close in the second half of 2026. Iron Horse’s prior IPO in December 2025 raised about $230 million, with Cantor Fitzgerald as underwriter.
In May 2026, Electra rebranded to Electra AI and, together with Iron Horse, filed a Form S‑4 registration statement with the SEC. That month the firm also signed a memorandum of understanding with satellite‑services provider D‑Orbit to develop battery‑intelligence solutions for space applications.
June 2026 brought a cybersecurity collaboration with Naoris Quantum Protocol Inc., aimed at protecting Electra’s battery‑management systems.
July 2026 saw Propel Industries, a maker of mining and construction equipment, adopt Electra’s EVE‑Ai Battery Fleet Analytics platform for its electric mining fleet.
In August 2026, Indian EV maker Omega Seiki Mobility partnered with Electra to embed battery‑health monitoring across its vehicle range, while Korean KOSDAQ‑listed battery‑diagnostic firm MinTech entered a technical collaboration to feed its data into Electra’s risk‑prediction platform for stationary energy‑storage systems.
September 2026 concluded the rollout of partnerships as Mooving, an Indian battery‑swapping network, selected the EVE‑Ai platform for its fleet operations.
The series of agreements underscores Electra AI’s strategy to expand its battery‑analytics technology across automotive, industrial, satellite and energy‑storage sectors ahead of its Nasdaq debut.
