FedEx orders 2,000 electric trucks from Harbinger in a $300 million deal
FedEx announced a purchase of 2,000 medium‑duty electric trucks from U.S. startup Harbinger Motors. The contract is valued at more than $300 million and calls for delivery of the vehicles by the end of 2027 for use in the United States and Canada. Harbinger estimates the fleet will save FedEx about $40 million in fuel each year, roughly $800 million over a 20‑year service life, and avoid more than 1.7 million tons of CO₂ emissions. The order builds on FedEx’s earlier investment in Harbinger’s Series C round.
Why it matters
The company expects the trucks to cut diesel costs by $800 million over 20 years, improving operating margins. Analysts note the deal provides a benchmark for large‑scale electric truck deployment in North America.
Key facts
- 1FedEx ordered 2,000 electric trucks from Harbinger. marketscreener.com
- 2The deal is valued at more than $300 million. marketscreener.com
- 3Deliveries are scheduled for the end of 2027. act-news.com
- 4Harbinger estimates annual fuel savings of $40 million for FedEx. briefs.co
- 5Cumulative fuel savings are projected at $800 million over 20 years. esgnews.com
- 6The order could avoid over 1.7 million tons of CO₂ emissions. esgnews.com
Open questions
- Material 6 reports the deal value as $200 million, conflicting with the $300 million figure in most other sources.
- Material 7 cites annual fuel savings of $20,000 per truck, which differs from the $40 million total annual savings reported elsewhere.
Summary written by AlphAI from 14 of 14 sources. Not investment advice. Figures are as stated by the linked sources.