Abstract:
FedEx has reached a $300 million deal with electric vehicle startup Harbinger to order 2,000 electric trucks. Harbinger said the company has entered the production phase and plans to deliver all vehicles by the end of 2027. This is the company's largest bulk order to date.
Harbinger was founded in 2022. The founding team members have worked in Anduril, the discontinued electric vehicle company Canoo and QuantumScape. Since its establishment, the company has focused on building one main product - medium-sized commercial electric truck chassis. Simplifying its product pipeline appears to be paying off, with the company already producing and generating revenue despite its relatively young history.
Last year, FedEx led Harbinger’s US$160 million Series C financing and ordered a batch of trucks during the financing period. Harbinger has delivered 53 vehicles to FedEx so far. This order of 2,000 vehicles is a further expansion based on previous cooperation.
At the same time, Harbinger is also expanding into other businesses, including hybrid emergency vehicles, battery packs for energy storage and defense applications. In February this year, the company acquired an autonomous driving company. Axios reported in May that Harbinger was considering an initial public offering.
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