EV truck maker Harbinger gets over $300 million order from FedEx

Harbinger Motors Inc. will deliver 2,000 all-electric trucks to FedEx Corp. in a deal worth more than $300 million, deepening the startup’s ties to the parcel company.

Harbinger plans to deliver the vehicles by the end of 2027, it said in a statement to Bloomberg News. FedEx will deploy the trucks across its pickup and delivery operations in the US and Canada. The fleet will replace an equal number of internal-combustion vehicles.

“The whole order is planned for delivery in less than 18 months, it’s unprecedented for the industry,” said John Harris, Harbinger co-founder and chief executive officer.

The deal, expected to be announced later on Wednesday, builds on a partnership between the two companies after FedEx co-led Harbinger’s Series C financing late last year.

FedEx has said it’s aiming for all parcel delivery vehicle purchases to be electric by 2030. The company operates nearly 9,500 electric vehicles across its global fleet currently, which includes on- and off-road vehicles. Fuel prices have surged recently due in part to the war in Iran, with diesel touching record levels.

“The transportation industry is undergoing a fundamental transformation, and electrification is set to play a pivotal role in the future of commercial fleets,” Vinay D’Souza, senior vice president of global assets and infrastructure at FedEx, said in the statement.

“This order with Harbinger helps us advance that transition, allowing us to build a more modern, efficient and intelligent fleet,” he added.

Harbinger estimates each of its electric trucks can reduce fuel costs by an average of $20,000 per year when compared with the diesel vehicle it replaces. It estimates 2,000 vehicles can generate roughly $40 million in annual fuel savings.

The Southern California-based company recently finished building its 1,000th vehicle, Harris said. For the FedEx deal, its Canadian dealer Kaizen Automotive Group will support distribution in the country.

Companies have been pushing to increase the number of electric trucks in their fleets. Tesla Inc. is ramping up the production and deployment of its Semi heavy-duty trucks after years of delays.

Elon Musk’s company held a launch event at its Semi factory in Sparks, Nevada last week to mark high volume production of the trucks, though it hasn’t disclosed production volume for 2026.