Electric Trucks Are Selling Like Hotcakes

Electric truck sales have surged despite the premature end of the US federal EV tax credit on September 30, 2025. Harbinger, a relatively new California-based startup specialising in Class 4-6 medium-duty electric trucks, reported nearly doubling its sales in the final quarter of 2025 compared to the previous quarter. This growth is notable given the broader decline in EV sales following the tax credit’s expiration, highlighting Harbinger’s strong market entry and the growing demand for electric medium-duty vehicles. Harbinger’s success is partly attributed to its focus on the medium-duty segment, where competition remains fragmented and no dominant manufacturer has emerged. Unlike Tesla, which does not produce Class 4-6 trucks, Harbinger offers fully customisable, all-electric stripped chassis, appealing to commercial fleet operators looking to replace gas and diesel vehicles. Data from the International Council on Clean Transportation (ICCT) and S&P Global confirms the relatively small but rapidly expanding market for these vehicles, with Harbinger outselling all competitors combined in 2025. A key driver behind Harbinger’s growth has been its partnership with FedEx, which is committed to electrifying its entire pickup and delivery fleet by 2040. In 2025, FedEx ordered 53 Harbinger trucks and co-led a $160 million Series C funding round for the startup, alongside other investors including THOR Industries and Capricorn’s Technology Impact Fund. FedEx’s senior vice president of safety and transportation praised Harbinger’s vehicles for their performance, price, and operational resilience, signalling strong commercial confidence in the brand’s offerings. The political landscape has added complexity to the EV market, with former US President Donald Trump’s administration and Republican Congress members successfully ending the federal EV tax credit earlier than planned. This move also eliminated tax incentives for electric commercial vehicles, which had been as high as $40,000. Despite this setback and broader industry challenges, Harbinger’s economic and operational case for electric trucks remains compelling, especially as rising fuel costs strengthen the appeal of electrification for commercial fleets. Looking ahead, Harbinger’s trajectory suggests a promising future for medium-duty electric trucks, particularly as major fleet operators like FedEx accelerate their transition to zero-emission vehicles. The company’s ability to scale production and maintain competitive pricing will be critical in sustaining momentum amid shifting regulatory and market conditions. With fuel prices soaring and environmental concerns intensifying, the shift to electric trucks in the commercial sector appears set to gain further traction in the coming years.