FedEx Goes Electric: $300M Deal for 2,000 Harbinger Trucks

FedEx has ordered 2,000 electric trucks from electric vehicle startup Harbinger in a deal valued at $300 million, the companies announced. The order represents the largest ever for Harbinger and marks a significant step in FedEx's efforts to electrify its delivery fleet.

The deal comes as Harbinger is reportedly considering an initial public offering, according to sources familiar with the matter. The startup, which specializes in medium-duty electric trucks, has been gaining traction in the commercial EV market. Financial terms were not disclosed beyond the $300 million figure, but the order underscores growing demand for zero-emission commercial vehicles.

The order is expected to help FedEx reduce its carbon footprint and operational costs, aligning with its goal of carbon-neutral operations by 2040. The news also highlights the increasing competition in the electric truck sector, with Harbinger positioning itself as a key player ahead of a potential IPO. Industry analysts suggest this deal could accelerate the adoption of electric trucks in logistics and spur further investment in the segment.