Harbinger, a Los Angels, CA-based electric truck manufacturer, raised additional $13M in funding.
The round, which brought the total amount to $73M, included participation from Coca-Cola System Sustainability Fund, managed by Greycroft.
The company intends to use the funds to to continue expanding its manufacturing capacity and launch its commercial start of production in Q4 of 2024.
Led by CEO John Harris, Harbinger is an electric truck maker that manufactures its own motors and battery packs.
The company has created a proprietary electric platform, also known as an electric vehicle stripped chassis, from the ground-up. It includes all major vehicle systems, which the company designs and assembles in house, including the powertrain, high voltage (HV) battery system, steering, brakes, and more. This vertically integrated approach keeps costs low and provides a higher-performing, safer and more durable solution than electric vehicles built upon existing diesel and gasoline platforms, which is common in the industry.
Once Harbinger assembles its electric vehicle stripped chassis, the company sells them to a dealer, a specialty upfitter, or directly to large fleet customers. From there, the dealer or customer works with a third party to upfit the chassis with a commercial or specialty body.
The company has already produced and delivered a limited number of pre-production trucks to key customers. Harbinger, which will begin producing and delivering its first production vehicles starting at the end of 2024, leverages proprietary, in-house developed vehicle technologies designed specifically for commercial and specialty vehicle applications.
The company also announced its order book, which included 4,000 binding vehicle pre-orders from customers including Bimbo Bakeries USA; the world’s largest RV manufacturer, THOR Industries; postal service operator, Mail Management Services; North American commercial vehicle dealers; and more, valued at more than $400M.
FinSMEs
21/05/2024