Core Insights - The electric trucking industry is experiencing increased investment despite ongoing challenges in freight demand and slow EV adoption [1][2] - FedEx is co-leading a $160 million funding round for Harbinger, a medium-duty electric and hybrid vehicle manufacturer, and has placed an initial order for 53 EVs [1][2] Investment and Market Dynamics - Einride, a Swedish autonomous trucking technology company, is preparing to go public via a SPAC at a valuation of $1.8 billion, following Kodiak AI's recent public offering [2] - FedEx's investment in Harbinger aligns with its network transformation and the need for larger-capacity vehicles to optimize operations [2] Company Operations and Production - Harbinger has produced approximately 400 vehicles since starting manufacturing in January and expects to increase production to about 3,000 vehicles next year [4] - The company specializes in designing and manufacturing stripped chassis, which are then completed by other truck manufacturers [3] Market Challenges - The freight market is contracting, with a projected exit of more trucking capacity in 2025, and medium-duty truck sales have declined by roughly 10% through September compared to the previous year [4] - The commercial electric truck segment has faced difficulties, exemplified by General Motors ending production of its BrightDrop electric vans, which FedEx had been a customer of [5]