Harbinger raises $100 Million Series B to boost growth - chof 360 news

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(Photo: Harbinger)

For those unaware, the medium-duty electric vehicle space saw many entrants and exits as startups backed by special purpose acquisition companies created and then ran out of runway. In the case of Harbinger, a modest yet focused approach avoided the drama, and the company recently announced a $100 million Series B raise co-led by Capricorn’s Technology Impact Fund, which has $10 billion under management. Harbinger plans on using the funds to accelerate its growth and increase production capacity to meet demand, which comes in the form of an order book of 4,690 vehicles valued at around $500 million.

Some of the customers include Bimbo Bakeries, the U.S. subsidiary of Grupo Bimbo, the world’s largest baking company, and Thor Industries, the world’s largest recreational vehicle maker. If you’re wondering what a bakery delivery vehicle and an RV have in common, it’s all about the chassis, which Harbinger makes in-house. The company vertically integrates the production of its EV platform through its proprietary chassis, which is custom-made to include a scalable battery pack, e-axle and things like suspension, which touts better comfort and handling than traditional medium-duty trucks.

An advantage to Harbinger is structural, with the medium-duty market compared to the larger Class 8 market boasting a two-tiered system, where chassis makers sell to companies that then have another company add the body on top of the chassis. Harbinger focuses on the EV chassis but doesn’t have the costs of installing the body of the vehicle on them. Compare that to a Class 8 sleeper, which is made end-to-end at an OEM facility, including a chassis, harness, body and everything in between.

Keep an eye out for the Truck Tech podcast interview with John Harris, co-founder and CEO at Harbinger, which will be released in the next few weeks. We will dive into the details of how the company is shaking up the medium-duty space.

(Photo: ZM Trucks)

ZM Trucks, a subsidiary of Japanese commercial vehicle maker ZO Motors, recently announced its first North American manufacturing plant in Fontana, California. The zero-emissions commercial truck maker also relocated the company’s regional headquarters to its Fontana facility. The 210,000-square-foot facility is expected to assemble up to 100,000 units per year. ZM Trucks’ commercial line includes battery electric, hydrogen fuel cell electric and a still-to-come hydrogen internal combustion engine.

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The expansion marks a cornerstone of parent company ZO Motors’ U.S. operations and will operate through the ZM Trucks brand. In addition to entering the North American market, ZO Motors recently opened a manufacturing plant in Cambodia, aimed at supplying the Asian-Pacific markets.

While the Japanese truck maker is entering the U.S. market, the recent development followed an initial order announcement last June by 32GROUP, an exclusive distributor for ZM Trucks, for 900 units.

This isn’t the first time a zero-emissions truck maker has set up shop in California’s Inland Empire. Samantha Gowen with The Mercury News writes, “The automaker joins a growing EV business movement in the Inland Empire. Karma Automotive announced in 2023 it was adding electric trucks to its assembly line in Moreno Valley. Luxembourg-based B-ON is manufacturing its electric light-commercial trucks at Karma’s facility on N. Perris Boulevard.”

(Photo: Jim Allen/FreightWaves)

InductEV will deploy high-power inductive chargers in partnership with port terminal operator International Transportation Service (ITS) at the Port of Long Beach, California. ITS recently received a $3.3 million grant from the California Energy Commission (CEC) and partnered with the wireless electric vehicle charging company, which will charge medium- and heavy-duty electric vehicles.

The ITS project, Hands-free Charging for Battery Electric Cargo Handling Equipment, is part of a larger $33 million award spread across five projects by the CEC. ITS plans to use the chargers to power up to five parked vehicles at a time and it’s the first installation at a West Coast port facility for InductEV following a deployment last year at APM Terminals in Port Elizabeth, New Jersey.

The technology works through a high-power wireless charging system, powered by inductive charging pads. The in-ground pad is activated when paired with an under-the-vehicle pad. For charging capabilities, the current InductEV systems range from 75 to 450 kilowatts.

Tesla announced during its Q4 earnings call that it plans full production of its all-electric Class 8 truck by the end of 2025. The company is expanding its Gigafactory in Reno, Nevada, to accommodate the production. Tesla’s head of investor relations told analysts on the call that mass production will begin late this year and ramp up further in 2026.

On a recent episode of Loaded & Rolling, FreightWaves " target="_blank" class="link"> spoke with Earl Adams, vice president of public policy and regulatory affairs at Plus, about autonomous vehicle and transportation regulations. Before joining Plus in January, Adams was a Federal Motor Carrier Safety Administration deputy administrator and chief counsel. 
J.B. Hunt turns green with the launch of a solar facility in Arkansas. The facility is expected to offset as much as 80% of its corporate campus building power usage. According to the company, the energy generated from the solar facility will be equivalent to that used by nearly 1,200 homes. Additionally, the company said, “The carbon dioxide kept from entering the atmosphere will be equivalent to eliminating 1,400 passenger vehicles from the road each year.”

The post Harbinger raises $100 Million Series B to boost growth appeared first on FreightWaves.

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