- US producer of medium-duty electric and hybrid electric truck chassis, Harbinger, has raised $160 million in its Series C funding round, co-led by FedEx, Capricorn, and THOR Industries.
- Following the funding round, FedEx has also placed an order for 53 Harbinger electric truck chassis, which will be ready for upfitting before the end of the year and assist FedEx in its long term fleet electrification goals.
- The new funding will help Harbinger further develop its made-in-America EV chassis product offerings.
Harbinger raises $160m to drive forward its electric truck models
The latest $160 million funding round was co-led by FedEx as well as Capricorn Investment Group’s Technology Impact Fund and RV manufacturer THOR Industries, with numerous other organisations also making investments into Harbinger.
Alongside the Series C funding round, key investor FedEx placed an order for 53 electric truck units, consisting of a mix of high-capacity Class 5 and Class 6 models. This reflects the delivery firm’s move to optimise its delivery and logistics routes, now opting for larger-capacity vehicles. The move to fully-electric trucks also opens up new opportunities for optimising the network, by ensuring that charging sessions can take place at depots or during driver breaks. FedEx has set a global target of carbon neutral operations by 2040, which will include an all-electric parcel pickup and delivery fleet by the same date. Other EVs already operated by the firm include Chevrolet’s BrightDrop 600 van.
Paul Melander, Senior Vice President of Safety and Transportation at FedEx, commented:
“Any vehicle that holds up to our rigorous on-road testing and offers state-of-the-art safety features with lower total cost of ownership is win-win for drivers and for our business.
As we work toward a goal to electrify the entire FedEx pickup and delivery fleet by 2040, this trifecta of performance, price, and operational resilience is what we need to be able to continue to scale. We look forward to bringing these Class 5 and 6 units into our fleet and seeing electric medium-duty trucking options – like what Harbinger is offering – become more accessible in the marketplace for commercial fleets of all sizes.”
