Harbinger’s Series C Funding Round
Harbinger has successfully secured $160 million in its Series C funding round, co-led by FedEx, Capricorn’s Technology Impact Fund, and THOR Industries. This funding will aid the medium-duty electric vehicle manufacturer in ramping up production and gearing up for its first fleet deliveries scheduled for 2025.
Total Funding Exceeds $350 Million
With this latest funding round, Harbinger has raised a total of $358 million. The investment also saw continued support from existing backers such as Ridgeline, Tiger Global, Leitmotif, and several others, as outlined in a release issued by Harbinger on November 12. The new funds will facilitate increased production capacity and market penetration as medium-duty fleets transition from initial pilot schemes to widespread electrification.
Innovative Electric Vehicle Platform
Harbinger has developed a U.S.-manufactured EV stripped-chassis platform, which is designed to reduce costs and enhance durability compared to retrofitted diesel platforms. This innovative system offers modular battery configurations that provide a range between approximately 140 to over 200 miles, delivering a torque of up to 13,400 pound-feet and enabling a 42-foot turning radius, catering specifically to last-mile delivery needs.
FedEx Orders Electric Trucks
As part of this investment, FedEx has placed an initial order for 53 Class 5 and Class 6 electric trucks. Harbinger plans to start delivering these as upfit-ready chassis by the end of the year, supporting FedEx’s pursuit for larger, more efficient pickup and delivery options as the company aims to electrify its fleet by 2040. The focus on U.S. manufacturing and early investments in domestic supply chains have helped Harbinger maintain stable production amidst trade uncertainties.
THOR Industries Expands Investment
THOR Industries is increasing its investment following the launch of the Entegra Coach Embark—a range-extended electric Class A motorhome based on Harbinger’s platform, which offers a combined range of up to 450 miles. THOR recognizes that Harbinger’s innovative technology is accelerating its own initiative towards clean mobility.
Future Outlook
The influx of capital and new strategic partnerships position Harbinger to be a key player in the growing medium-duty electric vehicle market. As fleets shift towards electrification, the company is poised to support this transition effectively.
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