EVwire brief: Harbinger has landed the largest bulk order in its short history: 2,000 electric trucks for FedEx, in a deal valued at more than $300 million.
Harbinger, which is already building trucks, aims to deliver the full order by the end of 2027, the company told TechCrunch. The deal was first reported by Bloomberg.
Harbinger co-founder and CEO John Henry Harris shared the news on LinkedIn:
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Harris laid out his math on fuel savings. Assuming a delivery truck covers 100 miles a day, six days a week, a diesel walk-in van getting 8 mpg would burn about 3,900 gallons a year, or roughly $32,760 at California's $8.40-per-gallon diesel price.
Running the same route electric at 0.9 kWh per mile and California's average commercial rate of $0.2313 per kWh comes to about $6,494, a difference of $26,266 per truck per year before any maintenance savings, per the CEO.
In a press release, Harris highlighted Harbinger’s existing relationship with FedEx is already very familiar with Harbinger’s technology:
FedEx is demonstrating that the business case for incorporating electric vehicles into real-world fleet operations at scale makes sense. 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.
By the way, it sure looks to us like you are an EV geek like ourselves.
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Context:
Harbinger was founded in 2022 by former staff from Anduril, Canoo and QuantumScape, and it built its business around a single core product: a reliable, durable electric medium-duty truck chassis. FedEx has backed the company for a while, leading its $160 million Series C late last year and taking 53 trucks from an earlier order.
Harbinger has also been branching out beyond delivery trucks. This year it moved into hybrid emergency vehicles, bought autonomous driving company Phantom AI in February, began selling its battery packs for energy storage and started pursuing defense work. The company is reportedly weighing an IPO as well.
Source: John Henry Harris on LinkedIn, Harbinger, TechCrunch, and Bloomberg News
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