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

FedEx has ordered 2,000 electric trucks from Harbinger in a deal worth $300 million, according to the EV startup, which told TechCrunch it plans to deliver all 2,000 vehicles by the end of next year.

It is the largest bulk order yet for Harbinger, a company founded in 2022 by former employees of Anduril, the defunct EV startup Canoo, and Quantumscape. Bloomberg News first reported the order Wednesday morning.

The relationship between the two companies runs deeper than a single purchase. FedEx led a $160 million Series C funding round for Harbinger late last year. Alongside that fundraise, FedEx placed an initial order, and Harbinger has already delivered 53 trucks under it.

A one-product strategy that worked

Harbinger's pitch since inception has been simple: make one main product, an electric medium-duty commercial truck chassis. That focus appears to have paid off. The company is in production and generating revenue despite being just a few years old — a rare position among EV startups, many of which have burned through capital before reaching scale.

Canoo, where some of Harbinger's founders previously worked, filed for bankruptcy and shut down. Harbinger's founders carried lessons from that failure into a leaner approach: build a single chassis platform and sell it to fleet operators with steady, predictable demand.

New revenue lines beyond trucks

Now Harbinger is expanding beyond that core product. The company is moving into hybrid emergency vehicles. In February, it acquired an autonomous driving company. It is also selling the battery packs it developed as energy storage products.

Defense has emerged as another target market for the startup's technology. Anduril, another alma mater of Harbinger's founders, has built its business on defense contracts.

The diversification comes as Axios reported in May that Harbinger is considering an IPO. A $300 million order from one of the world's largest shipping companies, with deliveries due by the end of next year, would give the company a revenue anchor likely to strengthen any public-market pitch.

For FedEx, the order deepens a bet on fleet electrification with a supplier it now partly backs as an investor. The 2,000-truck commitment follows the 53 vehicles already delivered, and the delivery timeline — roughly two years for the full order — will test whether a three-year-old manufacturer can scale production to Fortune 500 fleet volumes.