I get asked this all the time when I'm setting up a reading nook for friends — short version: it depends. Over the last few years manufacturers split into two camps. Most modern e-ink readers (the slim, paperlike ones you see everywhere) don't bother with built-in speakers; instead they offer Bluetooth so you can pair headphones or a speaker to listen to audiobooks from services like Audible or local MP3/M4B files. That keeps the device thin, light, and focused on battery life and reading comfort.
But there are exceptions. Some brands and models do include speakers or even a headphone jack, especially on more Android-like e-readers or pocket media players. Devices from companies such as PocketBook or some Onyx Boox models have shipped with physical speakers and even native text-to-speech features. And of course, if you buy a tablet-style device (think Amazon Fire) you get proper built-in speakers because they’re full tablets, not pure e-ink readers.
If you want to listen without fuss, check the specs: look for words like "built-in speaker," "headphone jack," "text-to-speech," or explicit Audible support. Personally, I usually prefer Bluetooth earbuds — they give better sound and preserve battery — but if I were commuting and wanted something where I can just press play without pairing, I’d hunt for a model that lists speakers in its feature set.