FedEx Orders 2,000 Electric Trucks From Harbinger in $300M Deal
FedEx has ordered 2,000 electric trucks from Harbinger in a $300 million deal, the largest bulk order yet for the startup, which plans to deliver the vehicles by the end of next year.
The order is the largest bulk order to date for Harbinger, which was founded in 2022 by former employees of Anduril, the defunct EV startup Canoo, and Quantumscape. FedEx led a $160 million Series C funding round for Harbinger late last year. Harbinger has already delivered 53 trucks to FedEx as part of an order the shipping giant placed alongside last year's fundraise.
Since its inception, Harbinger's pitch has been to make one main product: an electric medium-duty commercial truck chassis. TechCrunch reported that the simplified approach appears to have paid off, with the company in production and generating revenue despite being just a few years old.
Harbinger has also started to look at other possible revenue lines. It is getting into hybrid emergency vehicles, acquired an autonomous driving company in February, and is selling the battery packs it developed as energy storage. The company is also getting into defense use cases. Axios reported in May that Harbinger is considering an IPO, according to TechCrunch.