Harbinger announced a significant step forward in its growth trajectory with the closing of a $160 million Series C funding round co-led by FedEx, Capricorn’s Technology Impact Fund, and THOR Industries. The investment marks one of the company’s most significant milestones as it accelerates production of its American-made electric and hybrid medium-duty commercial vehicles and broadens market adoption across enterprise fleets.
The Series C round brought together a potent mix of strategic and financial investors. Alongside the three co-leads, participation included Ridgeline, Tiger Global, Leitmotif, Maniv Mobility, Schematic Ventures, Overture Climate, Ironspring Ventures, ArcTern Ventures, Litquidity Ventures, and The Coca-Cola System Sustainability Fund managed by Greycroft. With this latest round, Harbinger has raised a total of $358 million.
FedEx deepened its involvement beyond capital by placing an initial order for 53 Harbinger electric vehicles. The company will receive chassis ready for upfit by the end of the year, with deliveries including both Class 5 and Class 6 models. These vehicles support FedEx’s evolving operational needs as it continues to modernize its network and expand the use of larger-capacity pickup and delivery units.
Harbinger develops and manufactures its proprietary electric stripped chassis in-house in the United States. This vertically integrated model helps reduce production costs and provides a durable, purpose-built platform explicitly engineered for medium-duty applications rather than adapting combustion vehicle platforms for electric use. The company emphasizes advanced engineering, a driver-centric design, modern safety features, and a passenger vehicle-like driving experience.
The product line includes modular battery options, competitive acquisition costs relative to combustion vehicles, independent front suspension for improved handling, and up to 13,400 pound-feet of torque at the wheel. Harbinger vehicles can be configured for ranges of approximately 140 miles to more than 200 miles, aligning with specific fleet duty cycles.
The company focuses on comfort, durability, and ease of service. Features such as improved suspension, advanced driver assistance technologies, dynamic trajectory backup cameras, virtual bumpers, and acoustic vehicle alerting systems reflect Harbinger’s aim to elevate performance standards in a segment that has historically lagged in innovation.
The funding follows THOR Industries’ recent debut of the Entegra Coach Embark, the first range-extended electric Class A motorhome built on Harbinger’s chassis. The vehicle offers up to 450 miles of range through a hybrid architecture that recharges the battery system using a low-emissions gasoline range extender. The Embark originated from a 2024 test vehicle collaboration between THOR and Harbinger that earned recognition as a Fast Company 2025 World Changing Idea.
Harbinger plans to continue expanding its footprint in the rapidly growing medium-duty EV category as more commercial fleets seek domestic manufacturing, dependable supply chains, and vehicles optimized for last-mile delivery and specialty applications. The company describes its mission as transforming an industry that has had limited technological development for decades.
KEY QUOTES
“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. 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.”
Dipender Saluja, Managing Partner, Capricorn Investment Group’s Technology Impact Fund
“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. 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.”
Paul Melander, Senior Vice President of Safety and Transportation, FedEx
“Harbinger is driving the next generation of medium-duty electric vehicles with a clean-sheet platform designed for optimized fleet performance. The level of investor support we have 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.”
John Harris, Co-Founder and CEO, Harbinger
“We are excited to be delivering an industry-leading electric vehicle to the market while keeping all core manufacturing activities here in the U.S. Thanks to our exceptional U.S. workforce and resilient supply chain, we are building high-quality vehicles with a level of U.S. content that is 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 have experienced this year.”
Gilbert Passin, Chief Production Officer, Harbinger
“Harbinger’s proven execution and breakthrough technology are helping us accelerate long-term innovation at THOR. This additional investment reflects 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.”
Todd Woelfer, Chief Operating Officer, THOR Industries
