FedEx Orders 2,000 Electric Trucks from Harbinger in $300M Deal
FedEx has placed an order for 2,000 electric trucks from EV startup Harbinger, in a deal valued at $300 million. The order represents Harbinger's largest bulk order to date.
Logistics company FedEx has ordered 2,000 fully electric trucks from electric vehicle manufacturer Harbinger. The deal, valued at $300 million, is scheduled for delivery by the end of 2027 and marks Harbinger's largest single order since its inception.
Harbinger, founded in 2022 by former employees of Anduril and Canoo, specializes in medium-duty electric truck chassis. The company has already supplied 53 vehicles to FedEx as part of a prior agreement made during the startup's Series C funding round last year. This new order significantly expands FedEx's electric fleet.
The agreement highlights the growing demand within the logistics sector for reduced emissions and more sustainable transportation solutions. The adoption of electric trucks is a key component in achieving the climate targets set by many corporations.
Harbinger's focus on a primary product has enabled rapid production and revenue generation despite the company's young age. Harbinger has also diversified into hybrid emergency vehicles, acquired an autonomous driving company, and is selling its battery packs for energy storage. The company is reportedly considering an initial public offering.