FedEx believes $300M electric truck spend will save them $800M in diesel — SkimNews
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- FedEx ordered 2,000 all-electric Class 5 and 6 box trucks from Harbinger in a deal worth over $300 million, marking one of the largest commercial electric truck purchases in history.
- Harbinger will deliver medium-duty electric trucks designed for a 20-year service life, with each vehicle projected to save FedEx $20,000 annually in fuel costs compared to diesel equivalents.
- John Harris, Co-Founder and CEO of Harbinger, stated that FedEx’s prior experience with their vehicles demonstrated performance and economic advantages, leading to the expanded partnership.
- Paul Melander, Senior Vice President of Safety & Transportation at FedEx and Harbinger board member, emphasized that the trucks meet operational demands while reducing fuel and operating costs.
- FedEx aims to fully electrify its fleet by 2040, with this Harbinger deal representing a major step toward that sustainability goal.
Why it matters: FedEx stands to save $800M in fuel over 20 years by replacing diesel trucks with Harbinger’s electric models, turning a $300M investment into a 166% ROI while cutting 1.7 million tons of CO2—making electrification a financial and environmental win at scale.
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