● Covered by 1 source · 1 reportMedium impact1 neutral
FedEx Orders 2,000 Electric Trucks from Harbinger in $300 Million Deal
Key points
- FedEx ordered 2,000 electric trucks from Harbinger for $300 million.
- Harbinger expects to deliver all trucks by the end of next year.
- This is Harbinger's largest bulk order since its 2022 founding.
- FedEx previously led a $160 million funding round for Harbinger.
FedEx Expands Electric Fleet with Harbinger Order
FedEx has committed to purchasing 2,000 electric trucks from the electric vehicle startup Harbinger. The deal is valued at $300 million, representing a substantial investment in electrifying FedEx's logistics operations. Harbinger, founded in 2022, plans to complete all deliveries by the end of next year.
Harbinger's Growth and Production Milestones
This order is the largest bulk deal for Harbinger since its inception. The company, which focuses on electric medium-duty commercial truck chassis, is already in production and has previously delivered 53 trucks to FedEx. FedEx also led a $160 million Series C funding round for Harbinger late last year, demonstrating an ongoing partnership.
Strategic Expansion for Harbinger
Beyond its core electric truck chassis, Harbinger is exploring additional revenue streams. The company is developing hybrid emergency vehicles, acquired an autonomous driving company in February, and sells its proprietary battery packs for energy storage. Harbinger is also entering defense applications and is reportedly considering an initial public offering (IPO).
Impact on Commercial EV Adoption
This large-scale order from a major logistics company like FedEx signals a growing trend towards electric vehicle adoption in the commercial sector. It validates Harbinger's focused approach to electric truck manufacturing and contributes to the broader shift away from fossil fuel-powered fleets in transportation and delivery services.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
FedEx placed an order for 2,000 electric trucks from EV startup Harbinger, valued at $300 million, with deliveries expected by the end of next year. This significant order marks Harbinger's largest bulk deal to date and follows FedEx's previous investment in the company, indicating growing adoption of electric commercial vehicles in logistics.