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

FedEx is ordering 2,000 electric trucks from EV startup Harbinger in a deal worth $300 million. Harbinger, which already has trucks in production, plans to deliver all 2,000 by the end of next year, the company told TechCrunch.

It’s the largest bulk order yet for Harbinger, which was founded in 2022 by former employees of Anduril, defunct EV startup Canoo, and Quantumscape. Bloomberg News first reported the new order Wednesday morning. FedEx led a $160 million Series C funding round for Harbinger late last year.

Harbinger’s pitch since its inception has been to make one main product: an electric medium-duty commercial truck chassis. That simplified approach appears to have paid off, as the company is in production and generating revenue despite being just a few years old. It has already delivered 53 trucks to FedEx as part of an order that the shipping giant placed alongside last year’s fundraise.

That said, Harbinger has started to look at other possible revenue lines. The company 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. All this comes as Axios reported in May that the company is considering an IPO.