FedEx orders 2,000 electric trucks from Harbinger in $300M deal
FedEx has placed a binding order for 2,000 medium‑duty electric trucks from Harbinger Motors, valued at more than $300 million. The vehicles are slated for delivery by the end of 2027 and will replace diesel trucks in its U.S. and Canada parcel network. FedEx aims to electrify all parcel‑delivery vehicle purchases by 2030, though it is reassessing the pace of EV adoption as its network redesign progresses. The order follows FedEx’s earlier co‑lead of a $160 million Series C round for Harbinger and an initial purchase of 73 trucks.
Why it matters
The deal could reduce FedEx’s fuel expenses by about $40 million annually and cut over 1.7 million tons of CO₂ emissions, according to Harbinger’s estimates. The company expects the savings to total roughly $800 million over a typical 20‑year service life, improving its cost structure as diesel prices remain high.
Key facts
- 1FedEx ordered 2,000 electric trucks from Harbinger Motors. wwd.com
- 2The order is valued at more than $300 million. wwd.com
- 3Deliveries are scheduled for the end of 2027. wwd.com
- 4Harbinger estimates each truck saves $20,000 in fuel per year. wwd.com
- 5Annual fuel savings from the 2,000 trucks are about $40 million. energytech.com
- 6Total fuel savings over a 20‑year life are projected at $800 million. wwd.com
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.