FedEx Orders 2,000 Electric Trucks From Harbinger in $300 Million Deal

FedEx has ordered 2,000 electric trucks from Harbinger in a deal worth $300 million, marking the startup's largest order to date, according to TechCrunch.

The order comes as Harbinger is reportedly considering an initial public offering, though TechCrunch's report did not specify a timeline for a potential listing or additional financial details beyond the value of the FedEx order.

Context

Harbinger is an electric vehicle startup focused on producing commercial trucks, an area of the EV market distinct from passenger vehicles that has drawn increasing interest from logistics and delivery companies seeking to reduce fuel costs and emissions from their fleets.

FedEx, one of the world's largest package delivery companies, operates a large fleet of delivery vehicles across the United States and internationally. Large logistics companies have increasingly explored electrifying portions of their fleets in recent years, both to cut operating costs over the vehicles' lifespans and to meet sustainability commitments.

An order of this scale represents a significant vote of confidence in Harbinger from one of the logistics industry's largest players, and could serve as a notable reference deal for the startup as it pursues further commercial partnerships or, potentially, a public listing.

TechCrunch's report did not include further detail on the delivery timeline for the trucks, specifications of the vehicles involved, or comment from either FedEx or Harbinger beyond confirmation of the order itself.