Harbinger Raises $160 Million in Series C Funding Co-Led by FedEx, Capricorn and THOR Industries; FedEx Places Order for Delivery Beginning in 2025

 FedEx leans into medium-class electric trucks to advance network transformation and business sustainability objectives

On the heels of debuting the Entegra Coach Embark range extended electric motorhome on Harbinger's platform, parent company THOR Industries deepens its investment in Harbinger

GARDEN GROVE, Calif., Nov. 13, 2025 /PRNewswire/ -- Harbinger, a leading American-made medium-duty electric and hybrid vehicle manufacturer, today announced it has raised $160 million in a Series C funding round co-led by FedEx, the world's largest express transportation company; Capricorn's Technology Impact Fund, a multibillion-dollar investment firm backing leading companies in electrification; and the world's largest recreational vehicle (RV) manufacturer THOR Industries, known for its operating companies which include Airstream, Jayco, and more. The round also featured major participation from Ridgeline, a longtime Harbinger investor backed by FedEx. Additional previous Harbinger investors that participated in the round include Tiger Global; Leitmotif, a U.S. venture capital firm backed by Volkswagen; and venture capital firms Maniv Mobility, Schematic Ventures, Overture Climate, Ironspring Ventures, ArcTern Ventures, Litquidity Ventures, and The Coca-Cola System Sustainability Fund, managed by Greycroft. With this round, Harbinger has raised $358 million to date.

Along with its investment, FedEx placed an initial order for 53 Harbinger electric vehicles (EVs) from the company. Harbinger will deliver chassis ready for upfit by the end of this calendar year. These vehicles—a mix of Class 5 and Class 6 models—reflect the shipping giant's ongoing network transformation and resulting need for larger-capacity pickup and delivery vehicles as it continues to optimize its network and routes.

"FedEx's participation signals a demand for innovation in the medium-duty truck sector and for an electric model that helps advance business and sustainability goals at the same time," said Dipender Saluja, Managing Partner of Capricorn Investment Group's Technology Impact Fund. "Over the last two decades, medium-duty truck fleets have generally deployed small volumes of demonstration electric trucks. The industry is now ready to move to mass adoption, with Harbinger leading that scale up."

Harbinger's proprietary electric platform, known as an electric vehicle stripped chassis, includes all major vehicle systems, which the company designs and manufactures in-house in America. This vertically integrated approach helps keep costs down, while providing a higher-performing, more durable solution than electric vehicles built upon existing diesel and gasoline platforms.

"Any vehicle that holds up to our rigorous on-road testing and offers state-of-the-art safety features with lower total cost of ownership is win-win for drivers and for our business," said Paul Melander, Senior Vice President of Safety and Transportation, FedEx. "As we work toward a goal to electrify the entire FedEx pickup and delivery fleet by 2040, this trifecta of performance, price, and operational resilience is what we need to be able to continue to scale. We look forward to bringing these Class 5 and 6 units into our fleet and seeing electric medium-duty trucking options—like what Harbinger is offering—become more accessible in the marketplace for commercial fleets of all sizes."

Harbinger created a driver-centric vehicle with improved suspension and handling features designed to improve driver comfort and reduce fatigue, an important consideration for large fleets. Harbinger trucks also bring modern safety and advanced driver assistance (ADAS) technology, which aren't industry-standard in the medium duty segment, including backup cameras with dynamic trajectory, virtual bumpers, acoustic vehicle alerting systems (AVAS), and more.

"Harbinger is driving the next generation of medium-duty electric vehicles with a clean-sheet platform designed for optimized fleet performance," said John Harris, Co-Founder and CEO, Harbinger. "The level of investor support we've received reflects strong belief in the practicality of our platform, and our order from FedEx demonstrates that this vision is already taking shape in the market."

Harbinger's vehicles are purpose-built from the ground up to be electric and to serve the rigorous needs of the medium-duty segment including last-mile delivery. Fleets select Harbinger's all-electric vehicles because they are engineered for durability, modularity, and ease of service. Additional key highlights of Harbinger's electric vehicle that fit FedEx fleet needs include:

• Acquisition costs that are competitive with current combustion engine vehicles, helping fleets achieve significant operational cost savings without large upfront electric vehicle costs.
• Modular architecture offering best-in-class battery configuration, with options to match duty cycles of the vehicle. Harbinger vehicles can be configured with electric range as low as 140 miles, to over 200 miles, allowing individual vehicles to be matched to specific needs to help reduce costs.
• Passenger vehicle-like driving experience, with smooth, intuitive handling, responsive acceleration with up to 13,400 lb-ft of torque at the wheel, and an industry-best 42 foot turning diameter¹ to better navigate tight streets, enabled by independent front suspension.

"We're excited to be delivering an industry-leading electric vehicle to the market while keeping all core manufacturing activities here in the U.S.," said Gilbert Passin, Chief Production Officer, Harbinger. "Thanks to our exceptional U.S. workforce and resilient supply chain, we're building high-quality vehicles with a level of U.S. content that's rare in the trucking industry today. Our early decision to focus on building onshore manufacturing capacity has been key to achieving a smooth volume ramp-up despite the volatile trade environment we've experienced this year."

In September, THOR Industries' operating company Entegra Coach unveiled the Embark, the world's first range extended electric Class A motorhome. The RV integrates Harbinger's advanced EV chassis with a low-emissions gasoline range extender that recharges the electric battery system, offering up to 450 miles of range. The Embark RV is based on the 2024 reveal of THOR Industries and Harbinger's test vehicle, an innovation that earned the companies a Fast Company 2025 World Changing Ideas Award.

"Harbinger's proven execution and breakthrough technology are helping us accelerate long-term innovation at THOR, said Todd Woelfer, Chief Operating Officer, THOR Industries. "This additional investment underscores THOR's commitment to innovate and bring clean motoring to the RV industry. The launch of the Entegra Coach Embark RV represents the next phase of a deep collaboration with Harbinger and reflects our commitment to offer innovative best-in-class RVing experiences to our customers while creating real, sustainable competitive advantage in the marketplace."

For more information about Harbinger, please visit www.harbingermotors.com.

About Harbinger
Harbinger is an American-made medium-duty commercial vehicle company that offers all-electric and hybrid powertrains. The company is on a mission to transform an industry starving for innovation. Harbinger's best-in-class team of EV, battery, and drivetrain experts have pooled their deep experience to support the growing demand for medium-duty EVs. Leveraging a foundation of proprietary, in-house developed vehicle technologies designed specifically for commercial and specialty vehicles, Harbinger has introduced a first-of-its-kind EV platform to market, priced at acquisition parity to traditional diesel vehicle. Harbinger: Familiar Form. Revolutionary Foundation.

To learn more about Harbinger, please visit www.harbingermotors.com. You can find the company newsroom HERE.

Harbinger Media Contact

Kylee Keskerian
PR Manager
419-822-6417
[email protected]

¹ Based on Harbinger's 158" wheel base compared to other parcel delivery vehicles in North America.

SOURCE Harbinger