Harbinger Secures $160M to Electrify Medium-Duty Trucks for FedEx
Los Angeles-based electric truck startup Harbinger has raised $160 million in a Series C funding round co-led by FedEx , as it scales production of its medium-duty truck chassis. As part of the investment, FedEx has ordered 53 chassis , which Harbinger says will be ready by the end of the year. The startup was founded in 2022 by former employees of EV startup Canoo and battery company QuantumScape , and has deliberately focused on building only truck chassis rather than a full vehicle lineup.
Harbinger’s narrow focus appears to be paying off. Earlier this year, the company raised $100 million in a Series B and began producing chassis just three years after its founding. Alongside FedEx, THOR Industries , one of the largest RV manufacturers, co-led the Series C round, joined by Capricorn Investment Group’s Technology Impact Fund, Leitmotif , Tiger Global , Maniv Mobility , and Schematic Ventures . The investors signal confidence in Harbinger’s ability to scale production in a market where few players have succeeded.
FedEx’s investment comes after a decade-long effort to electrify its delivery fleet. Previous attempts, like a 2018 order of 1,000 vans from Los Angeles startup Chanje , ended in failure, and other automakers — including GM , Ford , and Rivian — have struggled to gain traction in commercial electric trucks. Harbinger, by focusing on larger medium-duty trucks rather than smaller delivery vans, is targeting a segment of the market that has seen less competition and demonstrated early demand.
The company says it has sold over 200 chassis this year and is expanding into Canada , signaling early commercial success. “FedEx’s participation shows demand for innovation in medium-duty trucks and for an electric model that advances both business and sustainability goals,” said Dipender Saluja , managing partner at Capricorn’s Technology Impact Fund. With fresh funding and a growing customer base, Harbinger is positioning itself to lead the transition from pilot programs to mass adoption in electric commercial trucking.
Sources:
TechCrunch
The EV Report
Axios
A.M.
