FedEx (NYSE: FDX) has agreed to purchase 2,000 electric trucks from EV startup Harbinger in a deal valued at $300 million, marking a major milestone for the young manufacturer.
Harbinger told TechCrunch that it plans to deliver all 2,000 vehicles to FedEx by the end of next year, an ambitious timeline for a company founded just four years ago.
The order represents the largest bulk purchase in Harbinger’s short history, underscoring growing corporate appetite for electric medium-duty commercial vehicles.
Harbinger was founded in 2022 by former employees of Anduril, defunct EV startup Canoo, and QuantumScape, bringing together talent from across the defense and electric vehicle sectors.
Bloomberg News first reported the new order, which builds on an already deepening financial relationship between FedEx and the startup.
FedEx led a $160 million Series C funding round for Harbinger late last year, signaling the logistics giant’s confidence in the company’s commercial potential well before this latest deal.
As part of that earlier fundraise, FedEx placed an accompanying order, and Harbinger has already delivered 53 trucks against that initial commitment.
Harbinger’s core strategy since its founding has been deliberate simplicity, focusing on a single main product: an electric medium-duty commercial truck chassis designed for fleet operators.
That focused approach appears to be bearing fruit, with the company now in active production and generating revenue despite being only a few years into its existence.
Harbinger has begun exploring additional revenue streams beyond its core chassis business, including hybrid emergency vehicles and battery packs developed for use as standalone energy storage systems.
The company also acquired an autonomous driving firm in February and has started pursuing defense-related use cases, broadening its commercial footprint considerably.
With momentum building across multiple business lines, Axios reported in May that Harbinger is considering an initial public offering, which would mark another significant step in the company’s rapid growth.
The FedEx deal reinforces the broader shift among major logistics operators toward electrifying their last-mile and regional delivery fleets as emissions regulations tighten across the United States.
For Harbinger, delivering on this $300 million contract on schedule will be a critical test of its production capabilities and its ability to scale at the pace that large enterprise customers demand.
