FedEx orders 2,000 electric trucks from Harbinger in $300M deal

FedEx has placed a significant order for 2,000 electric trucks from EV startup Harbinger, a deal valued at $300 million. Harbinger, founded in 2022 by former employees of Anduril, Canoo, and Quantumscape, aims to deliver the entire fleet by the end of next year, according to the company. This order marks the largest bulk purchase for Harbinger to date.

FedEx also led a $160 million Series C funding round for Harbinger late last year. Harbinger's core strategy has been to focus on producing a single electric medium-duty commercial truck chassis, a simplified approach that has allowed it to generate revenue and begin production within a few years of its founding. The company has already supplied 53 trucks to FedEx as part of an earlier order placed alongside the fundraising.

Beyond its core truck chassis, Harbinger is exploring other revenue streams, including hybrid emergency vehicles, autonomous driving technology through an acquisition in February, and selling its developed battery packs for energy storage. The company is also looking into defense applications. In May, Axios reported that Harbinger is considering a potential initial public offering (IPO).