"Los Angeles-based electric truck startup Harbinger has raised $160 million in a Series C funding round co-led by FedEx, as it scales up production of its commercial vehicle program. As part of the investment, FedEx has ordered 53 of Harbinger's electric truck chassis, which the startup says will be ready by the end of this year. Founded in 2022 by former employees of now-defunct EV startup Canoo and battery company QuantumScape, Harbinger set out to build medium-duty, commercial truck chassis - and basically nothing else."
"FedEx has spent a decade looking to add electric trucks to its nationwide delivery fleet. In 2018, the logistics giant took a gamble on another Los Angeles-based startup called Chanje, placing an order for 1,000 of its imported Chinese delivery vans in a deal that ultimately ended in a lawsuit. (Chanje collapsed soon after.) The market for commercial electric trucks and vans has matured since then, though the field still doesn't have many players."
Harbinger raised $160 million in a Series C funding round co-led by FedEx to scale production of its commercial medium-duty electric truck chassis. FedEx ordered 53 of Harbinger's chassis, which the company said will be ready by the end of the year. Founded in 2022 by former employees of Canoo and QuantumScape, Harbinger concentrates on building medium-duty commercial chassis and began production three years after inception following a $100 million Series B. THOR Industries and the Technology Impact Fund at Capricorn co-led the round alongside FedEx, with prior investors like Tiger Global participating. The commercial electric truck market has matured but remains sparsely populated, with major OEM programs showing mixed results.
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