FedEx has ordered 2,000 electric trucks from commercial vehicle startup Harbinger in a deal valued at $300 million, marking the largest bulk order to date for the U.S. electric truck manufacturer.
The order expands an existing relationship between the two companies. FedEx has already received 53 Harbinger electric trucks from an earlier order placed alongside the startup’s $160 million Series C funding round late last year, which FedEx also led.
Harbinger Expands Electric Truck Production
Founded in 2022 by former employees of Anduril, Canoo and QuantumScape, Harbinger has focused primarily on developing an electric medium-duty commercial truck chassis.
The company is already in production and generating revenue, with its vehicles being deployed by FedEx. The latest order represents a substantial expansion of that deployment and includes a mix of models from Harbinger’s all-electric vehicle lineup.
FedEx plans to use the vehicles as one-for-one replacements for conventional trucks as it works to modernize its fleet and reduce emissions.
FedEx Expands Fleet Electrification
John Harris, Co-Founder and CEO of Harbinger, said the existing deployment gave FedEx direct experience with the company’s vehicles.
“FedEx is demonstrating that the business case for incorporating electric vehicles into real-world fleet operations at scale makes sense,” said John Harris, Co-Founder and CEO, Harbinger.
“Our previous work together gave FedEx firsthand experience with the performance and economic advantages Harbinger vehicles can deliver. We are proud that a global leader like FedEx is turning its sustainability goals into action by choosing Harbinger to help expand its electric fleet.”
Paul Melander, Senior Vice President Safety & Transportation at FedEx and a member of Harbinger’s board, said the larger deployment is intended to combine fleet electrification with operating-cost reductions.
“Electrifying a fleet at this scale requires vehicles that can perform the work our robust operations demand while also delivering meaningful economic benefits,” said Paul Melander, Senior Vice President Safety & Transportation, FedEx.
“Expanding our deployment of Harbinger vehicles gives us an opportunity to continue making progress toward our fleet electrification goals while reducing fuel and operating costs.”
Vinay D’Souza, Senior Vice President of Global Assets and Infrastructure at FedEx, said the order supports the company’s broader fleet modernization efforts.
“The transportation industry is undergoing a fundamental transformation, and electrification is set to play a pivotal role in the future of commercial fleets,” said Vinay D’Souza, Senior Vice President of Global Assets and Infrastructure, FedEx.
“This order with Harbinger helps us advance that transition, allowing us to build a more modern, efficient, and intelligent fleet that meets the evolving needs of our customers, our team members, and our global operations.”
Harbinger Broadens Its Business
Although Harbinger has focused on electric commercial truck platforms since its founding, the company has expanded into additional applications.
The startup is developing hybrid emergency vehicles, acquired an autonomous driving company in February, and is selling battery packs developed for its vehicles for stationary energy storage applications. Harbinger is also exploring defense applications.
Axios reported in May that the company was considering an initial public offering.
Electric Trucks Target Lower Operating Costs
Harbinger estimates that each of its electric trucks can reduce fuel costs by an average of $20,000 per year compared with the conventional diesel vehicle it replaces.
The company’s vehicles are designed for a 20-year service life, which Harbinger says corresponds with the typical operating life of Class 5 and Class 6 medium-duty trucks.
Based on those estimates, Harbinger calculates that 2,000 electric trucks operating in a single North American fleet could generate approximately $40 million in annual fuel savings, or about $800 million over a 20-year vehicle life.
Harbinger also estimates that replacing 2,000 diesel trucks with its electric models would avoid more than 1.7 million tons of CO2 emissions over their operating lives, based on published U.S. Department of Energy data.
